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Thanks all for your advice! Here is the update: my account balance dropped to about $24.5K, I cut my losses nearly at the very bottom, felt very bad about it. Anyway, I asked for a PDT reset, I still can't trade yet. Now I'm wondering if I should stick to day trading. Is the bearish market...

I'm closer to the PDT penalty. Scared money can't win, the lowest balance was $25001.:rolleyes:

Another bearish day, placed a few orders and cancelled all before they were completed. My brain just can't get used to short trades. No rush, if I don't trade, I will be safe. :)

Thank you so much for your all honest and very helpful advice. I decided to reduce my trading size significantly so that I can remain calm while watching the charts, maybe $2~3K per trade. My two biggest losses on Friday was MSFT and NFLX which I invested $30K each, too much for my fund level...

Thanks, Chris, I realized the main reason of my failure was that I was going long in a bearish day. I haven't got to used to short trading, my brain was trained only for long positions.

I wasn't firm on the maximum loss per trade, and didn't follow my rules strictly either. Thanks, this is very helpful. Previously I invested $10K per trade because of the $6.95 commision per trade, now I'm with IB, I don't have to trade that much which did make me nervous. I didn't think of this.

When the account value drops below $25K, the day trading was disabled, not the account, right?

I had a very high success rate before last Friday, hope it's not just new trader's luck. I'm fine tuning my trading rules every day. If I don't trade, how can I become a better trader? Added several rules after the failure: 1. Never ever trade more than $10K at one trade. 2. Never lose more...

You must be a very funny guy, why I always find you posts hilarious. :p

Thanks :D, and I totally understand that, but I don't want to stop trading, I want to learn from trading.

Thanks, I will be more careful, cut losses quickly.

Yes, started trading since two weeks ago.

No, just stocks. I kinda lost control after I lost the first $300, tried to get it back quick, doubled my investment, then lost more. I added quite a few rules after the failure.

Last Friday was a really bad day, I lost $1K, now my balance is $25100, as a pattern day trader, I only have $100 to risk. Next Monday is very important to me, I will invest $5K instead of my usual $10K, if the market is not good, I may not trade at all. I know there is no 100% safety but I need...

The best way is investing, if you are rich enough. Check out EB-5 program https://www.uscis.gov/eb-5, you need to invest $1M and can afford to risk losing it all. It used to be half million but there are too many rich people what want to move to USA. Otherwise, you can enter US as a tourist...

Never mind, my old broker has disabled my trading privileges.

I'm transferring my account to a broker via ACATS for (much) lower commision, I do dozens of day trades every day, and always sell all positions before market closes. It seems that the transfer will take several days, anyone know if I can still trade like before during the transfer? It would...