Pattern Day Trading Question?
November 30th, 2009
Question 1.
If I commit 3 day trades on a Tuesday, will I be able to make 3 day trades on the following Tuesday?
Question 2
Lets say that I come up with the 25,000 account equity requirement to qualify as a pattern day trader. How many trades can I make in one day?
I am using a Scottrade account, and am trying to play by the rules. If you have any links, or book recommendations about Day Trading, I would greatly appreciate it!
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Tags: amp, book recommendations, day trades, day trading, pattern day trader, Question Question, Scottrade, trades
If you put up the $25k in your account you can trade as a day trader, they put that rule in to discourage regular traders from buy and sell strategies. If you want to day trade there are better brokers out there than Scottrade.
well… i know that e*trade frowns on minimum capitalization. fluctuations drop you below the line. when i finally managed to get that account unfrozen i moved it immediately. seriously tho if u r trying to play by the rules dedicate more cash to ur day trading enterprise. as 4 question 1…. its buying and selling the same equity repeatedly within the window…. not just buying and selling.
Why not open a future account? You can trade the e-mini s&p with about 6k with most broker. Buy and Sell as many time as you want. Plus you get a tax break, 60% are tax long term and 40% are tax short term.
How to trade the e-mini contract? You sell if you think the S&P will drop, you buy if you think the S&P will rise, each .25 point it move in your direction, you make $12.50, so each 1 points is $50.