PDT and Account Freezing Issues

[RiceRocket]

Quote from trader_david:

no, brokers will not do that. pdt is specific with every account.

you can open many small account with the same brokers (if you have three account, you get nine trades every week, good enough for you to play, also you can play tricks like transfering your money from the no day trade left account to the day trade remaining account, then transfer the money back to do the same)then you get enough trades and enough fund to do day trading. that is legal.

or you just open a future account, then transfer out the money to trade future, they will not freeze your money.

Which broker allows you to do this? Do you have experience? I know a couple that won't. Tradestation, Schwab.

 

[TraderSU]

Quote from RiceRocket:

Which broker allows you to do this? Do you have experience? I know a couple that won't. Tradestation, Schwab.

I was told by Sogo that I can't have two margin accounts with them. But they would let me open other account in my wife's name.

My PDT Nirvana technique is bit different...

Go long in first margin account and latter (same day) go short in other margin account to lock the profit (or limit your loss). You can do it many times in a day (as long you have balance). If day-trading different stock go long in second account and short in first (to maintain balance).

Next day settle the trade in pre-market when bid-ask spread is bigger (sell to yourself) / or trade during market hours at the cost of lost spread.

No day trade If you are not closing the position same day, then no need to pay double commission.

Sounds interesting? http://nopdt.com/forums/pdt-avoidance/pdt-nirvana

Cheers,
Sudhaker
http://nopdt.com