Quick question

[szaby_n]

Hello,

If i have a 5000 $ cash account at my brokerage can i trade intraday without beeing flagged as a pattern day trader?

 

[1245]

Quote from szaby_n:

Hello,

If i have a 5000 $ cash account at my brokerage can i trade intraday without beeing flagged as a pattern day trader?

NOPE. Need > $25,000.

 

[stevegee58]

Yes you can trade intraday. BUT it's gotta be less than 4 day trades in a 5 day period.

Really dood you should be exercising your google-foo more.

 

[szaby_n]

Quote from stevegee58:

Yes you can trade intraday. BUT it's gotta be less than 4 day trades in a 5 day period.

Really dood you should be exercising your google-foo more.

I was kinda hoping that the margin part in the wikipedia article is something i don`t fully understand but i was wrong

 

[NoDoji]

Quote from szaby_n:

Hello,

If i have a 5000 $ cash account at my brokerage can i trade intraday without beeing flagged as a pattern day trader?

Yes, you can trade futures without worrying about the PDT rule.

Futures, however, are highly levered and should be treated like any dangerous weapon.

 

[Wide Tailz]

Isn't it strange how the futures & forex markets, what with their huge leverage and no PDT rule, almost seem as if they were designed to shake the money out of small accounts?

:eek:

Then there are stocks..... completely opposite, to the point where it almost feels like Your Mother is protecting you from yourself.

 

[stevegee58]

Quote from Wide Tailz:

Isn't it strange how the futures & forex markets, what with their huge leverage and no PDT rule, almost seem as if they were designed to shake the money out of small accounts?

:eek:

Then there are stocks..... completely opposite, to the point where it almost feels like Your Mother is protecting you from yourself.

It always struck me as odd too. But the CFTC has their own motherly protection with leverage limits, no hedging etc.

 

[oraclewizard77]

You can if you join a prop firm and get a series 7.

 

[comintel]

Quote from szaby_n:

Hello,

If i have a 5000 $ cash account at my brokerage can i trade intraday without being flagged as a pattern day trader?

Actually yes you can, subject to the below.

Pattern day trader rules do not apply to a CASH account.

However with a cash account, proceeds of trades will be held 3 days under the three day settlement rule (since the broker cannot advance them to you without a margin account). So it is not very practical for that reason.

P.S. It would be helpful to indicate the subject of your post in the title.