am I? :confused:

[michaelmaxwell2]

So I am considering day trading i have a brokerage account and it also have margin attached. But the problem is i don't have $25,000 dollars for equity to put in the account to be allowed to day trade. So my question is if I day trade one day out of the week does these rules apply to me?

 

[byeung7]

As long as you don't exceed 3 day trades per week, you are fine.

 

[rathcoole_exile]

or switch to trading futures - SSFs or indeces (YM, ER2, NQ etc) and the Pattern Day Trader rules don't apply .......as long as you have the minimum funds required by your broker you can trade as often as you can afford or wish to ...

 

[Mr.J-Arthur]

Futures is a great way to avoid the SEC rule-pattern day trader.

Just don't over trade! I've done 300 trades in 5 days easily, wayyyy to much.

 

[Triton]

Hi All,

I'm trying my hand at paper trading. I did a few trades, not caring about profit or loss too much, just to get to understand the platform.

But then I also got the message that I exceeded the 3 trades per 5 day week. What confuses me is that I did over 10 trades before I got this message. So, does anyone know how they count the 3 trades?

Is a trade considered as an "entry and exit"? In other words only 3 of them allowed a week?

Also, if my third trade then turns against me, am I basically stuck with it until the next week if I didn't use stop limits or orders?

I'm still new and learning, so please excuse if I grossly misinterpreted something.

Cheers!

 

[bnaimy]

Futures is a great way to avoid the SEC rule-pattern day trader.

Just don't over trade! I've done 300 trades in 5 days easily, wayyyy to much.

WOW 300 trades in 5 days, i would be around 100 trades a month

But if it is working for you then great

To the tread starter, i recommen u trade the emini futures, u dont need to much capital and u wont need to start with 25k, 10 would do as a start toget you going.Dont riskt to much, cause if u cant make money with 10k then 25k will not change that. I recomend u use a simulator for a few weeks or months to put together a method and get the right mindset before starting.

I wish you good woth your new profession, and as always the more the marrier

WIith regarsd
Bashir naimy

 

[alexander]

Futures is a great way to avoid the SEC rule-pattern day trader.

Just don't over trade! I've done 300 trades in 5 days easily, wayyyy to much.

:clap:
Way to go!

Alex

 

[Charlton]

Day Trade definition

Hi All,

I'm trying my hand at paper trading. I did a few trades, not caring about profit or loss too much, just to get to understand the platform.

But then I also got the message that I exceeded the 3 trades per 5 day week. What confuses me is that I did over 10 trades before I got this message. So, does anyone know how they count the 3 trades?

Is a trade considered as an "entry and exit"? In other words only 3 of them allowed a week?

Also, if my third trade then turns against me, am I basically stuck with it until the next week if I didn't use stop limits or orders?

I'm still new and learning, so please excuse if I grossly misinterpreted something.

Cheers!

A day trade is one that is opened and closed in the same trading session. I assume that the previous 10 trades were opened during one trading session and closed in another.

If you look at your broker site this should be defined somewhere. Here is an example from Interactive Brokers

http://www.interactivebrokers.com/en/trading/marginRequirements/margin.php?p=d&ib_entity=llc

Charlton