Day Trader doubt

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Old Dec 27, 2016, 5:12pm   #1
 
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Joined Dec 2016
Day Trader doubt

Hi T2W members,
I have a doubt about day trader definition.
Assume, I bought 10 different shares today and sold all share tomorrow. If I am following this pattern. Am I under day trader definition?
-Yshrini
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Old Dec 28, 2016, 3:04pm   #2
Joined Dec 2016
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Originally Posted by Yshrini View Post
Hi T2W members,
I have a doubt about day trader definition.
Assume, I bought 10 different shares today and sold all share tomorrow. If I am following this pattern. Am I under day trader definition?
-Yshrini
Hi Yshrini, The definition of a Day Trader changes depending on whom you ask. My definition is someone who closes all trades at the end of the day, regardless of whether they are winning or losing, i.e. holds no trades overnight. The aim would be to end the day on a positive of course but not always as day traders will have winning days and losing days.
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Old Dec 28, 2016, 3:52pm   #3
 
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Quote:
Originally Posted by Yshrini View Post
Hi T2W members,
I have a doubt about day trader definition.
Assume, I bought 10 different shares today and sold all share tomorrow. If I am following this pattern. Am I under day trader definition?
-Yshrini

Does it matter? Trade the way you want to trade. Find what you are good at. Don't worry about fitting into a category.
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Old Dec 28, 2016, 4:13pm   #4
Joined Jul 2004
in the land of opportunity

"Pattern Day Trading
The SEC defines a day trade as any trade that is opened and closed within the same trading day. They define pattern day trading as four or more day trades within five trading days, assuming that the number of day trades is more than 6% of the total trades taken in the five day period."

https://www.thebalance.com/day-tradi...stocks-1031352
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Old Jan 17, 2017, 2:42pm   #5
Joined Jun 2016
"A day trader engages in long and short trades in an attempt to profit by capitalizing on the intraday movements of a market’s price action resulting from temporary inefficiencies in the supply and demand of the moment. A day trader often closes out all trades before the market close and does not hold any open positions overnight" ... Basicaly!
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Old Jan 17, 2017, 5:06pm   #6
Joined Feb 2002
Regardless of SEC bureaucratspeak, a day trader closes all trades on the same day they're opened. If you hold overnight you're just a trader
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Old Jan 17, 2017, 5:09pm   #7
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Quote:
Originally Posted by Yshrini View Post
Hi T2W members,
I have a doubt about day trader definition.
Assume, I bought 10 different shares today and sold all share tomorrow. If I am following this pattern. Am I under day trader definition?
-Yshrini
No , but make sure to not use unsettled funds for your next trade if you working in a cash account .
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Old Yesterday, 2:54pm   #8
 
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Joined Jan 2017
Interactive Brokers (IB) - Perhaps the largest options trading professional platform defines daytrading as opening more than 4 complete round trip transactions within a one week period. By exceeding this they claim to apply different criteria to ones trading account. An interesting assumption for them to make.
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