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Need HELP with question about PDT rules
- Thread starter dumtom
- Start date
Yes you can open a non PDT account and short,
The margin requirements will be the same as any other account but you only get 4:1 buying power with 25k or more. As far as what PDT is , I know that different firms have different rules but the basic rule is 3 roundtrip (buy and sell in the same day) trades in a five business day span.
The margin requirements will be the same as any other account but you only get 4:1 buying power with 25k or more. As far as what PDT is , I know that different firms have different rules but the basic rule is 3 roundtrip (buy and sell in the same day) trades in a five business day span.
4 round trips (which are all day trades) in 5 days will get you a PDT margin call, unless your broker's software automatically restricts you from initiating your 4th RT in under 5 days, as is with IB.
overnighters don't count. period.
if you get the margin call, you will be restricted to cash (means you have to wait 3days for transactions to settle, and have no margin at all) for (i think) 90 days.
write an e mail to SEC telling them to stay out of your business. gordon has the address...
overnighters don't count. period.
if you get the margin call, you will be restricted to cash (means you have to wait 3days for transactions to settle, and have no margin at all) for (i think) 90 days.
write an e mail to SEC telling them to stay out of your business. gordon has the address...
Dum/bung
The rules are open to interpretation by the individual clearing house or firm..some firms are 3 round trips, some are 4 and I do know of one particular firm that doesn't care how many you do!, although I won't say who. As far as writing the SEC, It's a little late for that. Once these rules go into effect it's very hard to get them to revert back. look at the uptick rule? That is so old and antiquated, but they still have it .
The rules are open to interpretation by the individual clearing house or firm..some firms are 3 round trips, some are 4 and I do know of one particular firm that doesn't care how many you do!, although I won't say who. As far as writing the SEC, It's a little late for that. Once these rules go into effect it's very hard to get them to revert back. look at the uptick rule? That is so old and antiquated, but they still have it .