Daytrading patten rule any way around it?

[bat1]

prop shop in lake charles,la?

sorry none around here

 

[MandelbrotSet]

Quote from bat1:

prop shop in lake charles,la?

sorry none around here

Well then you need to learn about trading futures ... go extremely slowly.

 

[millionaire7]

Interesting idea

Quote from loufah:

Once your price point is reached, you can sell in-the-money options to lock in your gain. Then , the next day, sell the stock and buy back the options. Of course, this could more than double the commissions you have to pay, so find a broker with low commissions, or at least one who will let you trade stock and options with a single commission.

 

[SForce]

Quote from kandlekid:

The pattern day trading rule only applies to margin accounts. If you trade using a cash account, it does not apply. But then you can't short, and settlement may become an issue.

Quote from gaj:

WRONG.

3 day trades in a 5 day period is allowed, no more, for equities.

PERIOD.

Nope, he was right. PDT applies to margin accounts only. Of course settlement becomes an issue. So to answer the OP's question: Use a cash account and daytrade options. Avoids the PDT rule and the problem with settlement.

 

[MandelbrotSet]

Quote from SForce:

Use a cash account and daytrade options. Avoids the PDT rule and the problem with settlement.

Another good idea, but then he would have to learn how options work. Once again not the easiest thing to do, and it will require work and a learning curve to succeed at it.

 

[OffTilt]

Quote from bat1:

prop shop in lake charles,la?

sorry none around here

trade remote

 

[gaj]

sforce, kandlekid - you're both right. mea culpa.

 

[KINGOFSHORTS]

Quote from bat1:

I only got $20 grand to trade with.
Scottrade says I need $25 grand to
daytrade. So how can I get around this?

the rule is 4 complete trades aday in and
out in 5 days is patten daytrading. Right?


Thanks,
Ed

Cant you just wait and save an extra 5K? What is the hurry? The markets will always be there.

 

[TradingPilot]

Prop shop is your best bet but remember u will prob have to pay data and platform fees.

Just because you have 100K buying power doesn't mean you have to trade 1000 shares at a time!

 

[bat1]

Quote from KINGOFSHORTS:

Cant you just wait and save an extra 5K? What is the hurry? The markets will always be there.

So I save to 25K then do a few trades
then I lose a few go under the 25K
rule and I'm back to where I am now



Guess you really need 50K to daytrade
then way you stay above the 25K
rule.