Will This work?

E

ewile

In an effort to sidestep the pattern daytrader rule, can I open a second account (I already have one) with IB and transfer funds between the two-so that I have 6 trades per 5 days.

Anyone do this?
 
I suspect that this would not work. And I am guessing this based on both audit and computer related checks that brokers have in place for all regulatory requirements. What would work is to just divide your capital between two separate firms.
 
Originally posted by ewile
In an effort to sidestep the pattern daytrader rule, can I open a second account (I already have one) with IB and transfer funds between the two-so that I have 6 trades per 5 days.

Anyone do this?
More...

If nothing else it is creative ...
 
Originally posted by skerbitz
or wait 4 weeks (!@#$#@) for the Single Stock Futures ...

:D
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4 weeks? I'll believe it when I see it. There was a link to a magazine article posted here recently that made me think these things are never going to get off the ground. The lobbying by the groups who don't want ssf's seems to be working and the roadblocks just keep getting thrown up.

http://www.sfomag.com/
 
You can trade options ...

same $1 per execution

$1 for 1 option
$1 for 100 shares

there will be some more slippage perhaps
and the moves intrday will usually be less

but that is one way to trade as often as
you like without the 25 K rule limits
 
I did this for a couple of months. I had one account in my mothers name and one in mine. I switched accounts every other day. I finally switched to futures out of frustration. Please dont tell anybody about what I did.:)
 
Originally posted by easyrider
I did this for a couple of months. I had one account in my mothers name and one in mine. I switched accounts every other day. I finally switched to futures out of frustration. Please dont tell anybody about what I did.:)
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Bad boy, next thing you know you will be spoofing ...
 
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