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01-22-2023, 11:29 PM
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#91
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Registered User
Join Date: Jan 2006
Posts: 28,549
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Quote:
Originally Posted by PaceAdvantage
I remember when that $20,000 minimum went into effect for day trading stocks...I also remember it being a bummer...lol
It's called the "Pattern Day Trading" rule...you can't make more than 3 (or is it 4?) day trades in a week if I recall. If you do, they require you to put $25,000 into the account in order to day trade.
Just looked it up...it's 4 day trades in a 5 day period...and it's $25k minimum to continue, not $20k
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That's the main difference between the racetrack and the financial markets. Put $25,000 in a trading account...and you are a small fry. Put $25,000 in a horse-betting account...and you are a big shot.
__________________
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01-23-2023, 07:11 PM
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#92
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PA Steward
Join Date: Mar 2001
Location: Del Boca Vista
Posts: 88,612
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01-23-2023, 07:18 PM
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#93
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PA Steward
Join Date: Mar 2001
Location: Del Boca Vista
Posts: 88,612
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01-25-2023, 09:50 AM
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#94
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PA Steward
Join Date: Mar 2001
Location: Del Boca Vista
Posts: 88,612
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01-27-2023, 02:27 AM
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#95
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PA Steward
Join Date: Mar 2001
Location: Del Boca Vista
Posts: 88,612
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01-28-2023, 12:59 PM
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#96
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PA Steward
Join Date: Mar 2001
Location: Del Boca Vista
Posts: 88,612
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01-31-2023, 08:59 AM
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#97
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PA Steward
Join Date: Mar 2001
Location: Del Boca Vista
Posts: 88,612
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02-04-2023, 10:29 AM
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#98
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PA Steward
Join Date: Mar 2001
Location: Del Boca Vista
Posts: 88,612
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02-07-2023, 02:03 AM
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#99
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PA Steward
Join Date: Mar 2001
Location: Del Boca Vista
Posts: 88,612
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02-09-2023, 07:55 PM
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#100
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PA Steward
Join Date: Mar 2001
Location: Del Boca Vista
Posts: 88,612
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02-09-2023, 09:36 PM
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#101
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Registered User
Join Date: May 2011
Posts: 22,640
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Quote:
Originally Posted by PaceAdvantage
I remember when that $20,000 minimum went into effect for day trading stocks...I also remember it being a bummer...lol
It's called the "Pattern Day Trading" rule...you can't make more than 3 (or is it 4?) day trades in a week if I recall. If you do, they require you to put $25,000 into the account in order to day trade.
Just looked it up...it's 4 day trades in a 5 day period...and it's $25k minimum to continue, not $20k
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The rule only applies if you have a margin account, not if you have a cash account. Of course you can't trade futures and takes 2-3 days for cash trades to settle.
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02-11-2023, 01:16 PM
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#102
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PA Steward
Join Date: Mar 2001
Location: Del Boca Vista
Posts: 88,612
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02-11-2023, 07:57 PM
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#103
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PA Steward
Join Date: Mar 2001
Location: Del Boca Vista
Posts: 88,612
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02-14-2023, 09:05 AM
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#104
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PA Steward
Join Date: Mar 2001
Location: Del Boca Vista
Posts: 88,612
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02-14-2023, 07:59 PM
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#105
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PA Steward
Join Date: Mar 2001
Location: Del Boca Vista
Posts: 88,612
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