Nick Cundy's Posts | Commonstock

Wish I had more $ so I could do more than three day trades in a week. Does anyone know a platform that will let you do more than three trades in a week without suspending your account?

Michael Panebianco

@tecantra10/26/2021

If you've got less than $25k in your margin account then you'll be falling foul of the 'Pattern Day Trading' rules; it's not a brokerage thing but a law that the SEC enforces.

I say 'margin account' because if you use a cash account instead then you won't be subject to that rule. But then there's another thing to be wary of called a "Good Faith Violation".

If you trade using a cash account then you have to wait for the funds to clear (usually two days) before you can use them again. Otherwise you commit a 'Good Faith Violation'; I know that some brokerages permit you a certain number of GFVs per year but I don't know if that's a legal precedent.

In effect, unless you have $25k in a margin account or enough cash in a cash account to keep yourself trading over a period of three days (to build in a buffer), you can't day trade unfortunately.

+ 2 comments

Nick Cundy

@nickcundy10/21/2021

Bought 12044% more DWAC

Digital World Acquisition at $14.30

10/21/2021

Finally got lucky on one.... too bad I didn't have more $ to begin with.

Nathan Worden

@nathanworden10/21/2021

Dang! Up 356% today! Its at $45.50 now

+ 1 comment

Nick Cundy

@nickcundy10/13/2021

My Investing Story:

Installed Robinhood a little over a year ago and had zero experience or knowledge. I decided to invest in EV infrastructure since the automotive industry is going electric. Specifically $BLNK and $FCEL. I let them ride for about 6 months and ended up making 2.5x my investment. Then they began to go down and I sold. Since then I've been chasing meme stocks for that quick 50% gain and have lost everything I made from my initial investments plus some. Need discipline & patience

Nathan Worden

@nathanworden10/13/2021

Welcome Nick! The experience you've had so far is valuable— you know what it's like to ride things up and how it feels when things come crashing down.

I agree with @mnr that making mistakes and then improving your process is a badge of honor.

+ 8 comments

Nick Cundy

@nickcundy10/13/2021

Me buying #GWH during the intraday high. Some days I let my emotions get the best of me...

#Follow #Rookie #NewGuy