pattern day trader - the ARROGANCE rule

Quote from roadstar4:

well, thanks... :p
i don't mind irony. just to satisfy your curiosity

i made 840$ out of 2200$ wich is actually + 38.18% in one day, only trading stocks. CSIQ, EJ

i have 10k USD more that i will add to the account and 25K will be a matter of a few months.
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sorry, i saw in the snapshot IB changed the last price for CSIQ to 18.00 so it's $780.
 
Quote from ProfitTakgFool:

Why the government equates wealth with knowledge I'll never know. If the government really wanted to ensure people knew the risks of day trading there should be an educational requirement, not a monetary one. No one can say for sure if the gov't is trying to keep the little guy down but if they are not then their efforts are misguided.

There is a solution however ---->>>> Futures. If you want to day trade there simply isn't a better market, imo.
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yes, you're right

but the point is that i'm not a day trader!! but if there's volatility, 3 day trades in 5 days may happen to every swing trader
 
The PDT rule is such a crock of shit. Thankfully in Canada we dont have to worry about that BS.

You could try getting a Canadian adress and amybe set up with a Canadian broker. Ive heard of some doing things like this but im not sure how dificult it is to pull off.

As far as I know only Interative Brokers enforces the PDT rule in Canada.
 
its a great rule. hold overnight so the futures drip like a ton of bricks and wake up broke. the government really looking out for us! its nonsense.
 
the rule only applies to margin accounts. You can daytrade using a cash account with settled funds (options settle the next morning). That's what I do.
 
I hope you guys are aware that there are prop firms where you can put down $5k, not have a series 7, and legally get significant leverage and have no PDT rule.
 
Quote from IndexSwing:

the rule only applies to margin accounts. You can daytrade using a cash account with settled funds (options settle the next morning). That's what I do.
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i didn't think about that... interesting.
 
Quote from NY0BScalper:

I hope you guys are aware that there are prop firms where you can put down $5k, not have a series 7, and legally get significant leverage and have no PDT rule.
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i personally don't know what a prop firm is, and what a series 7 is...

can you give an example?
 
Quote from GSP:

The PDT rule is such a crock of shit. Thankfully in Canada we dont have to worry about that BS.

You could try getting a Canadian adress and amybe set up with a Canadian broker. Ive heard of some doing things like this but im not sure how dificult it is to pull off.

As far as I know only Interative Brokers enforces the PDT rule in Canada.
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i didn't know that. i'm going to email a couple of canadian brokers about it...

thanks
 
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