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yeah x 2 thanks fohat.....Don't seem like any of them are about to play by those rules..Comfirmed mytrack ain't..but thanks for your input on getting the head around it. Appreciated...

Sallyboy So if you buy a stock in a cash account and sell it before 3 days is up or (T+3) we are now in violation of Reg T(free riding) swingtrade.... buy day 1 get stopped out day 2... Reg T breach. This is off the planet

Fohat that was an email received on the 28th. Be making some more enquires on Monday before i do any trading.Dam whys it such a big deal...Its f...n b/s apparently trading e-minis thru them is still 2 months off.

Fohat whats this saying? Procedures: Penson will begin issuing a new type of call for trading in the cash account. If there are not settled funds in the cash account to pay for all trades, a money due notification will be issued. Cash account trades must be paid for in full, by...

ok Fohat i hope your right.... maybe they'll think up a margin type just to cover t+3 or something.

lol ok i see where your at now Guess they thought that disallowing people to swingtrade would be taking it a bit far huh.

now now Bucky not everyone was born with a silver spoon in his mouth. How do undercaptilised learners learn...?? Come up with 25k and then start?? Thats a good recipe for disaster. Guess their tryng to breed a new investor instead of daytraders while all the big money firms daytrade their...

Ok Fohat i agree with your application on reg t and up till now thats how my brokers applied it too..... i've got a feeling that the brokerage firms have been pushed to take a step the other way. Mytrack...cash account...(no margin ever).this up until now updated realtime so profit/losses...

Zarrar what you got told does'nt seem to be correct i've emailed Datek 3 times and it goes in two stages ok..outlined below Part 1...... If you are tagged as a pattern Day Trader and your account is below $25,000.00 your account will immediately become Restricted. If your account is...

Fohat...this is part of an email from Datek The new regulation regarding Pattern Day Trading begins September 28th. The rule stipulates that if you make 4 Day Trades in a rolling 5 business days you are a Pattern Day Trader. A day trade is when you both open a new position and close it...

Zarrar this is what i got back from them(Datek) Q)hi...Cash accounts with datek,...can i daytrade more than 3 times a week and not be catagorised as a PDT?? If so is are the accounts real time update or t+3...... A)No, anyone who daytrades four or more times in any five...

well if thats true Datek are going to get alot of business...including mine What a shambles on the mytrack help board today. ALOT of people knowing nothing about it. Mytrack has already labeled people PDT's during this week. Their policy is cash accnt or margin,,more than 3 daytrades your...

Funny that ...i thought the only person i was putting at risk daytrading a cash account was myself. I now don't have the right to do that,but your saying i should just say yeah ok and move on???? Cash accounts now need to be margin accounts with 25k in them if you wish to daytrade. Sorry but...

I'm 5000 miles away but Count me in..I'm more than willing to devote time and/or money to it......I'd rather see the ruling taken to task legally. or at least looked at by someone. The examples that Fohat has previously pointed out are good examples of that. I got the same "canned"...

found a website that does some explaining so i'll have a read. If anyone else is interested http://www.eminis.com/school-eminis.htm#emini and a better one at http://www.cme.com/getting_started/index.cfm Thanks Fohat

Excellent........thanks for the lesson..got a couple more dopey questions if you'd be kind enough to answer them 1)I'm a bit lost with how it would only "cost" $5250 how do we arrive at that figure?? 2)i've got charting ok...is there such a thing similiar to level 2 on these?

Fohat your a legend...thanks for that post and the others i know you've put alot of time into,....there much appreciated. I know nothing at all about futures or options...AT ALL Is what your saying run like this AT 1500 I Buy long 1nq (=800qqq) brokerage =2.95 qqq at this time was...

I'm in the same position only option i've seen so far is here http://www.elitetrader.com/vb/showthread.php?s=&threadid=2275&perpage=6&pagenumber=1 Thats not a recommendation,check it out for yourself

Pete....My understanding is you are allowed 3 roundtrip daytrades in any 5 day period. Anymore you're classified as a pattern daytrader. Anything held overnite is not a daytrade so doe'snt count,..do as many as you want. Take a look at EXDS 24/9---25/9 shows that to do it that way it may pay...

LET EM KNOW HOW YOU FEEL http://www.sec.gov/complaint/selectconduct.shtml