Replies to post #2689 on One Play A Day

[trading.jeff]

All brokerages have to conform to the 3-in-5 rule as it's a federal rule, not just the three you included in your post.

As far as what you wrote for them, "3 round trips in a week," this may be a little misleading. If a person makes three roundtrips on Thursday, he can't start over again, fresh, on Monday. He will have five business days from Thursday. Assuming there is no holiday during the next week, Friday is day 1, Monday is day 2, Tuesday is day 3, Wednesday is day 4, Thursday is day 5. He will be able to trade same-day roundtrips again on Thursday. The period is not a Monday-through-Friday week, but a rolling five-day period.