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Just trying to get my question answered

Where did you get this information? I haven't read anything like that anywhere that I've looked.

Picky, picky. so it's four "round trip trades" instead of executions. Either way, my point is still intact: If you only "daytrade" for 4 business days at a time (consecutively) then you are not considered a "pattern daytrader."

Very informative.... why don't you give me a link or something because all of the sources that I've seen tell me that this can be done. One of my sources: datek my broker. Here is what they have to say: "A pattern day trader is defined as an account that makes 4 round-trip day trades...

Thank you rtharp. I am well aware of the SEC's new rule. However, I didn't say that they were daytrading accounts... I said that they were accounts with direct access brokerages. Also, if you read the rule carefully you will notice that you are considered a "daytrader" if you make 4 or more...

Alechin, I'm not sure exactly what your question is. However, I have a lot of doubt about whether brokers do the research that is required to verify that any of their members annual income. It also seem that the requirement really has only one purpose: to keep their butts out of hot water...

Lol :) Funny. I guess the reason that I brought this up is because it seems stupid for Brokers to even ask the questions that they do. They really can't / don't verify the information anyway. Besides, it is in their best interest to allow whoever has money to trade so that they can make...

I was just wondering how many of us lied to our brokers in order to open our trading accounts and or to receive enhanced account features. Any comments? My personal thought on this is that some brokers seem to require a large amount of income, experience, etc. Experience is a requirement...