Ok just a quick question lets say I make a day trade on a Tuesday and I'm under the 25k does that day trade fall off on the next Tuesday or do I have to wait until the following Wednesday to use that day trade again?
Posted Mar 15, 18 6:37 PMbyBlagg
Categories
Basics
If your account was flagged with a day trade then it will be removed on the following Tuesday per your example
PDT rule only affects margin accounts. My solution is just to go long with a cash account until you acquire the 25k.
There are the FINRA rules, and then there's the determination of the broker as to whether or not an account is flagged for PDT. Make sure by checking the documentation with your broker and resources like these: https://www.sec.gov/fast-answers/answerspatterndaytraderhtm.html , http://www.finra.org/investors/day-trading-margin-requirements-know-rules . Once an account is flagged for PDT, it doesn't go away.
Most brokers will keep tabs on your day trades and make that info visible.
Join now or log in to leave a comment