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Re: griffygriff3 post# 926

Tuesday, 08/15/2017 3:38:14 PM

Tuesday, August 15, 2017 3:38:14 PM

Post# of 48133
I already sold everything @0.0148 made a couple extra hundres bucks for the day. only have 13 shares left in my account. LOL, TD Ameritrade flagged me for Day Trading. WTF? Never seen that before?

What is a day trade/round trip?

A day trade occurs when you buy and sell (or sell and buy) the same stock or option position during the same trading day. A trading day includes all pre-market, normal trading hours, and extended session hours. Selling a position held overnight and reacquiring the position the following day is not considered a day trade.

FINRA provides that a pattern day trader is any account that executes four or more round-trip day trades within any rolling five-business-day period, provided the number of day trades represents at least 6% of the total trading activity during the same five-business-day period.

If you are flagged as a pattern day trader, you'll be subject to restrictions, including a minimum equity of $25,000 at the start of any day in which day trading occurs. Pattern day-trader accounts that fall below the $25,000 minimum equity requirement for day trading will be restricted to closing transactions only for 90 days, or until the equity is brought up to $25,000.
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