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I have a non-margin enabled cash only account with about $30,000 in it. If
my account falls
below $25,000 will I still be able to day trade? Do the day trading rules
only apply to margin
accounts or to cash accounts as well? I was thinking it was both but now I'm
not sure.
Oscar De-La Hoya versus Manny Pacquiao. Take De-La Hoya in a cakewalk he'll rip
this bum apart with his left jab for eight rounds before finishing him off. I've
gotten every fight i've bet this year right all 34 of them. I'm up 71 million on
fights this year alone. I just take half of the stash and bet it on each fight.
mac79 wrote:
> I have a non-margin enabled cash only account with about $30,000 in it. If
> my account falls
> below $25,000 will I still be able to day trade? Do the day trading rules
> only apply to margin
> accounts or to cash accounts as well? I was thinking it was both but now I'm
> not sure.
--
The Grandmaster of the CyberFROG
Come get your ticket to CyberFROG city
Nay, Art thou decideth playeth ye simpleton games. *Some* of us know proper
manners
Very few. I used to take calls from *rank* noobs,
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Using my technical prowess and computer abilities to answer questions beyond the
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Regards Tony... Making usenet better for everyone everyday
"mac79" <m...@n...ck> wrote in message
news:6fUXk.94371$E41.10791@text.news.virginmedia.com
...
>I have a non-margin enabled cash only account with about $30,000 in it. If my
>account falls
> below $25,000 will I still be able to day trade? Do the day trading rules only
> apply to margin
> accounts or to cash accounts as well? I was thinking it was both but now I'm
> not sure.
>
It does not matter how your account is coded (cash vs. margin). Your account
requires a minimum value to open and close a stock position in the same day. If
your account falls below a minimum value you can still daytrade futures and
single stock futures.
The rules are always changing and some brokers have even higher minimum balances
than the Fed and SEC have prescribed.
"mac79" <m...@n...ck> wrote:
>I have a non-margin enabled cash only account with about $30,000 in it. If
>my account falls
>below $25,000 will I still be able to day trade? Do the day trading rules
>only apply to margin
>accounts or to cash accounts as well? I was thinking it was both but now I'm
>not sure.
The daytrading rules apply to equities trading, but some brokers also
apply them to options trading even though that isn't quite kosher.
It's been several years since I was playing the nickel slots; find the
rules, read the rules, don't believe what this lot tells you, and if
your broker tells you something other than what the rules state
double-check before changing brokers.
--
victim: A newbie who has it all figured out.
Lubow <l...@l...com> wrote in message
news:4930a715$0$851$ec3e2dad@news.usenetmonster.com.
..
> "mac79" <m...@n...ck> wrote in message
> news:6fUXk.94371$E41.10791@text.news.virginmedia.com
...
> >I have a non-margin enabled cash only account with about $30,000 in it. If my
> >account falls
> > below $25,000 will I still be able to day trade? Do the day trading rules only
> > apply to margin
> > accounts or to cash accounts as well? I was thinking it was both but now I'm
> > not sure.
> >
> It does not matter how your account is coded (cash vs. margin). Your account
> requires a minimum value to open and close a stock position in the same day.
No matter what name he posts under, old man Tenenbaum is always
an idiot...
If you are a "pattern day-trader" (makes four or more round-trip trades
of any stock in a single day in a five-day period), you MUST have a MARGIN
account of more than $25,000.
http://www.patterndaytraderrule.com/
http://www.patterndaytraderrule.com/nasdrule2520.htm
l
This is what happens when some idiot decides to get a "Series 3"
NFA license for no apparent reason except to sit around all day in his
tattered bathrobe and threaten to sue people on the Internet if they
say he doesn't have it:
http://www.nfa.futures.org/BasicNet/Details.aspx?ent
ityid=0230572
---
William Ernest Reid
Post count: 1354
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