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?
Linked trades
32.75% GAIN
My Size at $2.68
Nick CundyOctober 26
Michael Panebianco's avatar
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.
Emmet Barta's avatar
I'm in the same boat yet I don't have a lot of day trades , I am more of a swing trader
Emmet Barta's avatar
If you can wait 12hrs till next day after buy or sale of same stock you won't be listed as a day trade, this is why I tend to be more of a swing trader, fast money on grows in people that have funds to invest over 10000 a day on day trading



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