Stock Trading and Other Things

Getting day trading status removed?

I was hit with a day trading status so now I have to have $25,000 in my account. Is there a way to have this removed. This is the second time I was hit with it. The brockerage firm removed it the first time but can't the second time. I was told that if I wait 90 days without a day trade it will go back to a regular margin account....is this true?
Is it 90 regular days or 90 trading days?

Public Comments

1. Yes, depending on the firm you may have to remind them. They are only following NASD Rule 2520.

For full explanation go here;

http://www.patterndaytraderrule.com/

2. You may want to consider trading futures or currencies which do not have the 25,000 day trading requirement.