Falcon has this happened to you before?? Being labeled a PDT that is? If not, many times you can phone your broker and tell them some bs about over trading on accident and there are a few (maybe more, maybe all, I'm not sure) that will remove the restriction on your account IF you're a first time offender.
My option trades
- Thread starter ryanpatrick
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Falcon has this happened to you before?? Being labeled a PDT that is? If not, many times you can phone your broker and tell them some bs about over trading on accident and there are a few (maybe more, maybe all, I'm not sure) that will remove the restriction on your account IF you're a first time offender.
Thats an interesting comment. Might give it a try?
I was thinking of throwing in the towel. Closing my account and opening with another broker maybe? I like the platform at TOS, but they are severely crimping my style and ability to exit a losing trade. Iôve lost my edge in ability to stop and reverse. Or at least EXIT when in danger. Lost about $600 this day past and wondering how to get out of it, as I could not exit. As a retail small trader, I canôt afford not being able to react. When your wrong you should be able to get out. Not be stuck over the day and into the next day. Iôm figuring on taking the loss tomorrow morning. Just hope it is not as bad as it seems and maybe the loss grows by tomorrow morning.
Option Trading is short term trading, has nothing to do with buying stocks for long term.
I was thinking of throwing in the towel. Closing my account and opening with another broker maybe? I like the platform at TOS, but they are severely crimping my style and ability to exit a losing trade. Iôve lost my edge in ability to stop and reverse. Or at least EXIT when in danger. Lost about $600 this day past and wondering how to get out of it, as I could not exit. As a retail small trader, I canôt afford not being able to react. When your wrong you should be able to get out. Not be stuck over the day and into the next day. Iôm figuring on taking the loss tomorrow morning. Just hope it is not as bad as it seems and maybe the loss grows by tomorrow morning.
Option Trading is short term trading, has nothing to do with buying stocks for long term.
Falcon, definitely try phoning your broker before you do an acct. transfer.. I'm not sure, and maybe someone will pipe in about it, but if there is a time limit or not. Once they issue the PDT margin call I believe you have 5 days to fund the acct.
This happened to me once before and I was to phone them within the 5 days and they told me they do a 1 time PDT restriction removal per account.
So bottom line, if you like your broker and are currently PDT restricted, call them.
I got greedy....had a chance to close out PAY calls at $1.20 or so and ended up holding and eventually selling out for a bigger loss. Ended with a loss of ($605.11) on this trade pushing me back to $2600...We'll, onto ACN calls, I like the charts and its strong post for the past 4 Qs.
Short-time lurker, first-time poster. Just signed up specifically because of this thread.
OP: If you don't want to blow up your account playing around "being greedy," step back and look into more conservative strategies. There's money to be made trading iron condors, double diagonals, covered calls, etc. Sure, it's boring and you won't get that Las Vegas thrill, but with managed risk you'll consistently grow your account. Save the gambling for Vegas.
OP: If you don't want to blow up your account playing around "being greedy," step back and look into more conservative strategies. There's money to be made trading iron condors, double diagonals, covered calls, etc. Sure, it's boring and you won't get that Las Vegas thrill, but with managed risk you'll consistently grow your account. Save the gambling for Vegas.
767 good luck. Already tried explaining this concept, or at least applying risk management to the trades. Oh well right. Gotta learn somehow I guess.
