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I think that www.patterndaytraderrule.com site explains NASD Rule 2520 pretty well. You are not taking what they are saying for what it means. Your adding your own spin on it. Heres the quote: "An NASD & SEC rule that applies to anyone who buys and sells a particular security in the same...

I apologize if I came across as rude in my last post. However, theres no reason to argue about it. It simply cannot be done that way. Lets just move on.

Come on, was that a serious post? No, it cant be done like that. A broker cannot decide to trade a stock that the exchange has halted, How are they going to explain that when the NASD or SEC comes in to audit them? "Umm we thought it didnt apply to us so we made up a bid and ask and traded it on...

This can happen with pretty much any firm on NYSE orders. It is part of the game and has to do with the orders going to the floor of the exchange. This Once in a while it just takes time to get accepted, executed, or cancelled. Nasdaq is all electronic and generally much quicker.

Thats nothing new, its always been mostly negative feedback here. The worst thing you can do is say your making money and try to explain how. 20 jerks will immediately try to tell you why you're wrong. You learn that right away on ET, the jerks out number (or at least out-post) the people...

Nope. Don't count on ever seeing bullets again. They dont generally make any regulations LESS restrictive, they only tend to make them MORE restrictive.

Just open a foreign corporation, transfer the money into its name, open a brokerage account, get checkwriting and debit card thru the broker. I think that'd get you what your asking. Foreign corps do not pay tax to the US.

I know my buddy has had an acct with Alliance (www.alldaytraders.com) for I think almost 2 years now. He hasn't had any problems. He day trades all the time with under $25k. I think they're legit. Now if you want to get into the logistics of whether you can ever be a successful active trader...

No, you don't calculate every trade, you just use the totals. All you need is your schedule D for the year.

Yes, you can short on a dwontick thru ARCA. I do it almost every day. The reason they can do this is because ARCA is its own exchange (they bought the Pacific Exchange) and has the ability to set some of its own regualtory guidelines. But you definitely can short on a downtick thru ARCA.

The first hour is the best time to trade. That is where the Volume and Volatility are. Day traders want and need those 2 things to take larger moves for more profit. The middle of the day is bland and generally there is not enough movement to take the larger moves (at least with my method).

How about "Snobby Connecticut Pricks" :D ? Thats more descriptive.

I dont think thats a surprise to anyone who ever had an account at Aneritrade or Etrade. They are notorious for holding trades, especially in a fast market (when the market maker they send the order to has trouble making money trading against you order).

US brokers do not report any tax information to foreign governments. They only report 1099 info to the US. So theoretically (of course), your government will never know what you made or lost in the US markets unless you tell them. I think you see where I'm going with this...

Easily, its the 1st hour and a half (9:30 - 11am) and the last hour (3 - 4pm).

I found a site that gives a fairly comprehensive description of the Pattern Day Trader Rule (NASD rule 2520). The site is: http://www.patterndaytraderrule.com

The only requirements for most prop shops are around $5,000 deposit and a face (and the face is optional). As long as your putting down money most will give you a seat no problem.

Its an NASD/SEC rule (NASD rule 2520), the restriction is the same for all US brokers. There are foreign brokers who will allow you to pattern day trade under $25,000 like http://www.alldaytraders.com (Alliance). I know some people who use them and they do pattern day trading with less than...

I can do GTC Stops through www.realfasttrader.com as well.

They way I figure it should be done is as follows. It should be the margin rate divided by days in a year. That number times debit amount times days held. .06 (Annual rate)/ 364 (Days a year)= .0001648 (Daily Rate) .0001648 * 10,000 Margin Debit)= 1.648 per day Isn't that right?