scottrade day trading question?
I have scottrade account with $1000. Do I violate the rules if I do the trading like this.
1.I buy ABC stock on Monday, and sell it on Tuesday. Trading with cash, do this every week.
another case:
2. I buy XYZ stock on Monday,and sell it on the same day.Trading with cash, do this every week.
Public Comments
1. Doing this once a week should not set off the "Pattern Day Trader" rule. Nor should you have settlement issues. Starting off day or swing trading by a novice may not be a wise move.
Hopefully you've read 6 or more books on the subject(s).
2. if you buy anything one day and sell it other day does not violate the rule
the rule is violated when you sell one stock on monday buy any stock tuesday and then sell it before friday
ie sell - buy sell should take more than 4 days in total especially the last sell
can use scottrade Choose "Referred by a friend" and enter Coupon Code ZKJY0395 for three free trades (for sure) might get 7 depend on when you use this coupon