Investor Help (NO Ihub questions)

[cintrix]

1. You don't need the minimum 25k as long as you keep it under the pattern day trade requirements.

2. You can day trade in a cash account and not have to worry about pattern day trading BUT you have to trade with cleared funds. So say you had 10k in a cash account and you bought 10k worth of stock and then sold the same day. You could use those proceeds to immediately buy a new stock, but you can't sell it until those funds from the original sell clear - the T3 rule. If you are looking to do day trading it is easier to have a margin account, but you do need to watch how many you do if you are under 25k.

3. I know nothing about Trade King. I thought the pattern day trade rule was a FINRA rule.