Message Font: Serif | Sans-Serif
No. of Recommendations: 0
My understanding is if you trade in and out of any security (buy and sell) in the same day and you repeat this activity on that particular stock four times within "a rolling 5 business day period", you can be classed as a pattern daytrader. But as I understand it, the only restrictions have to do with minimum balances in your account and margin requirements.
And, after MAGS, I guess that's what they'll classify me as.

I don't think there's anything else involved. If I'm wrong - somebody please let me know what I'm missing.

Print the post  


When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.