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Replies to #19208 on Cat House
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Manti

01/30/12 11:31 AM

#19209 RE: yogowypi #19208

Any margin account that executes four or more day trades/round trips within a rolling five business days has shown a pattern of day trading. The account will be flagged as a pattern day trading account and subject to the National Association of Securities Dealers (NASD) Pattern Day Trading Rules.

If you have a cash account, you have settlement criteria to deal with in addition to pattern day trading.