Monday, October 16, 2023 5:54:58 PM
"As a retail investor, you can't buy and sell the same stock more than four times within a five-business-day period. Anyone who exceeds this violates the pattern day trader rule, which is reserved for individuals who are classified by their brokers are day traders and can be restricted from conducting any trades."
"FINRA rules define a day trade as:
The purchasing and selling or the selling and purchasing of the same
security on the same day in a margin account."
Most OTC investors don't have margin accounts.
A day trader might make 100 to a few hundred trades in a day, depending on the strategy and how frequently attractive opportunities appear - and most day traders close out all positions each day.
And they don't become emotionally attached to a stock like most OTC investors.
The First Casualty of Emotion is Reason.
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