Although I finally was granted, the ability to again daytrade without restriction, I do not normally plan on trading in and out of trades all day every day… Instead, it’s more of when a stock like this arrives that is just perfect for daytrading… Not just predictable, uptown movements, but a hefty percentage in between
Stocks like this are what I like to call honey pots
RIPPEROP :
By the way, I just happen to see this on TV as they were trying to spin a positive light on GameStop as if they can get on the right side of history really quick
RIPPEROPDaddyNannydaytrader:
If you have less than 25,000 in a brokerage account you cannot daytrade…… you are only allowed three in a five day span.
After 25K, you can buy, sell, buy, sell, buy sell of the same stock all day, if desired as long as you stay above 25k
hands down, restricting people from trading should be every retail traders biggest enemy…. if anyone wants to shout and complain about the rules of the system, it should be started with that one and only that one until it’s fixed. So a lot of times probably 98% of people trading out their pick up a stock right now and all of a sudden let’s pretend it starts crashing… They have to hold onto the opposition and watch it crash and are unable to sell it until the following day if they’ve used up there, three weekly trades… Which go very quickly
Wind_Storm :
Strictly cash accounts with no margin requirements can be traded multiple times to the limit of the cash in the account. pdt does not apply.
RIPPEROPDaddyNannydaytrader:
No, I’ve never been penalized for anything…… Soon after the original GameStop event in 2021, the SEC created what is called the day trade restriction role, which prevents traders with less than 25K in their accounts from doing more than three day trades in the five day span. Before that rule was implemented, anyone, and everyone could trade freely in and out of whatever stock they prefer. Since that rule has been implemented you can tell they have been predatory practices abusing it and moving stocks in very specific ways that would cause retail attention to jump in knowing a large percentage will be stuck, holding it until the following day, when it will be at whatever price their desire
DaddyNannydaytraderRIPPEROP:
Well I just learned about a DT CALL because of max DTBP lol so I have to deposit 37k and I can pull it back out haha. Oops yes I know the 25K Rule but I got myself into another issue with a DT CALL but glad I got the money to cover it and learned this lesson sooner than later
RIPPEROP : BRDS has been perfect for day trading
Although I finally was granted, the ability to again daytrade without restriction, I do not normally plan on trading in and out of trades all day every day… Instead, it’s more of when a stock like this arrives that is just perfect for daytrading… Not just predictable, uptown movements, but a hefty percentage in between
Stocks like this are what I like to call honey pots
RIPPEROP : By the way, I just happen to see this on TV as they were trying to spin a positive light on GameStop as if they can get on the right side of history really quick
DaddyNannydaytrader RIPPEROP: How did you get restricted ?
71409556 : Is this still gonna reverse split tomorrow ?
RIPPEROP DaddyNannydaytrader: If you have less than 25,000 in a brokerage account you cannot daytrade…… you are only allowed three in a five day span.
After 25K, you can buy, sell, buy, sell, buy sell of the same stock all day, if desired as long as you stay above 25k
hands down, restricting people from trading should be every retail traders biggest enemy…. if anyone wants to shout and complain about the rules of the system, it should be started with that one and only that one until it’s fixed. So a lot of times probably 98% of people trading out their pick up a stock right now and all of a sudden let’s pretend it starts crashing… They have to hold onto the opposition and watch it crash and are unable to sell it until the following day if they’ve used up there, three weekly trades… Which go very quickly
Wind_Storm : Strictly cash accounts with no margin requirements can be traded multiple times to the limit of the cash in the account. pdt does not apply.
DaddyNannydaytrader RIPPEROP: So basically it was a DT CALL
RIPPEROP DaddyNannydaytrader: No, I’ve never been penalized for anything…… Soon after the original GameStop event in 2021, the SEC created what is called the day trade restriction role, which prevents traders with less than 25K in their accounts from doing more than three day trades in the five day span. Before that rule was implemented, anyone, and everyone could trade freely in and out of whatever stock they prefer. Since that rule has been implemented you can tell they have been predatory practices abusing it and moving stocks in very specific ways that would cause retail attention to jump in knowing a large percentage will be stuck, holding it until the following day, when it will be at whatever price their desire
RIPPEROP DaddyNannydaytrader: I’m guessing you have more than 25k in ur account correct?
Otherwise, you would know exactly what I’m talking about without question
DaddyNannydaytrader RIPPEROP: Well I just learned about a DT CALL because of max DTBP lol so I have to deposit 37k and I can pull it back out haha. Oops yes I know the 25K Rule but I got myself into another issue with a DT CALL but glad I got the money to cover it and learned this lesson sooner than later
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