brooklyn_gent
New member
- Mar 20, 2009
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Okay, I have read the previous pattern day trader questions and answers but I am still not sure I completely understand. So here is the question:
The rules say I am classified as a pattern day trader if I execute 4 or more round trips in 5 consecutive business days. So, does this mean I can do 3 round trips, buy/sell of the same stock on the same day using all the cash in my account? If so, how long must I wait to do it again? and how do weekends play into this, I hear "5 consecutive business days", does that mean if I make 3 trades on Friday that I must wait until the following Friday?
Thanks
The rules say I am classified as a pattern day trader if I execute 4 or more round trips in 5 consecutive business days. So, does this mean I can do 3 round trips, buy/sell of the same stock on the same day using all the cash in my account? If so, how long must I wait to do it again? and how do weekends play into this, I hear "5 consecutive business days", does that mean if I make 3 trades on Friday that I must wait until the following Friday?
Thanks