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Author: averagjoe Big funky green star, 20000 posts Top Favorite Fools Top Recommended Fools Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 36686  
Subject: Re: Daytrader Date: 4/20/2004 1:00 AM
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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
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Is that 5 times for one stock or 5 day trades total (any stocks) in a rolling 5 day period?

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Read the rule again. It says Four or more times, which means you're limited to three; four falls within "four or more". And it doesn't matter whether it's the same stock or several stocks. Three trades, that's all.

~aj
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