To those that just start trading on etrade, here is a learning point if you started with only $500 account like myself, you cannot trade more than 3 trades a day(means you buy/sell same day, but just not exceed more than 3 trades in a day for a 5 rolling days period[include weekends]), or you will gets restricted as your account will get bump up to become a pattern day trader status. To remove the status you either have to get help on etrade or raise your account to at least $25000 to clear the restriction. And while in restriction status you can only trade cash-only transaction for 90 days or until you clear the $25000 funds in your account.
So good luck to you all rookie traders, be safe and have fun :)
@kobayashimaru I have been paper trading. I haven't been doing bad. I also know what the PDT rule is that's why I am going to use E*Trade instead of suretrader or a broker like that.
@TrishaDawn19 Sounds good, Once you get consistent profitable trading you can always open multiple accounts to skirt around the PDT.
@kobayashimaru That's very true. Once I get better then other brokers are definitely a good option.
@TrishaDawn19 @Soul08 whatever works for you guys
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