Is there anything i can do to get around the PDT rule?
- Thread starter cashclay
- Start date
*smacks zghorner with a large fish*
How DARE you give such a simple and elegant answer like that on ET! You go sit in the corner on a stool with this pointy-hat. Shame!
I would not get an offshore account, I think it is
too much hassle plus there will probably be fees.
Some ways to work around PDT rules are:
Have a cash account
Multiple accounts with various brokers
Only one day trade every other day
Swing trade, hold stock until tomorrow
Until you have $25K or think of something
else, that's what I would do.
too much hassle plus there will probably be fees.
Some ways to work around PDT rules are:
Have a cash account
Multiple accounts with various brokers
Only one day trade every other day
Swing trade, hold stock until tomorrow
Until you have $25K or think of something
else, that's what I would do.
This is absolutely the best way to go.
%%
Yes;
you can swing trade or position trade.
Inverse ETFs are better than shorts ,[sometimes short term trading] with a plan; no such thing as margin call .
SDS[ cash inverse]......... makes money off bear SPY move; but you still need a plan.
But like SCHW discloses '' NOT suitable for most investors''
SH+ PSQ is far better to learn to trade than any kind of leveraged stuff including futs, SDS.
But for max\ thrills chills + losses use as much leverage when you dont know how to trade or invest[sarcasm + dont do this @ homeLOL
]
Your Best Possible Future likely waits for you in the Futures Market.
I was a stocks day trader back in the mid to late 90's before there were any PDT rules. I do NOT miss the huge tax envelopes I had to mail to the IRS each year, documenting every trade.
I do NOT miss my earnings all being taxed as regular income, instead of being split 60/40 between long term and short term capital gains. The tax advantages of futures are very significant.
It is a relief to have a very simple figure to put on my tax returns, using a one page form!
The leverage available in this realm is tremendous, even 3X ETF products don't begin to compare.
Since you have a smaller account for now, just use Micro Futures, there is a growing suite of great products. The micro Oil MCL has fantastic volume and now has options as well, as just one example. And those options are NOT subject to PDT rules!
I was a stocks day trader back in the mid to late 90's before there were any PDT rules. I do NOT miss the huge tax envelopes I had to mail to the IRS each year, documenting every trade.
I do NOT miss my earnings all being taxed as regular income, instead of being split 60/40 between long term and short term capital gains. The tax advantages of futures are very significant.
It is a relief to have a very simple figure to put on my tax returns, using a one page form!
The leverage available in this realm is tremendous, even 3X ETF products don't begin to compare.
Since you have a smaller account for now, just use Micro Futures, there is a growing suite of great products. The micro Oil MCL has fantastic volume and now has options as well, as just one example. And those options are NOT subject to PDT rules!