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/biz/ - Business & Finance

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19897607 No.19897607 [Reply] [Original]

Hey guys. I day trade successfully with a cash account(since I don't like to mess with anything that could bring debt) but the 2 business day settling time is killing my potential earnings. Is there a way to avoid this? Maybe get a limited margin account of some kind so I can technically trade with my earnings immediately but find a way to dodge the pattern day trading penalty for accounts under 25,000 usd? I use TDAmeritrade if that matters any.

>> No.19897655

>>19897607
You can make 3 trades/week no penalty, after that penalty applies. You can open a margin account and just trade 1:1 (no debt)

>> No.19897728

>>19897655
this.

essentially you’ll have to get in the habit of swing trading, which in my case forced me to be more deliberate with entry and exit targets.

if you exceed 3 day trades per calendar week on a regular (margin) account you’ll be placed on PDT probation and can’t make a single day trade for 90 days, so avoid that at all costs.

>> No.19897737

>>19897655
Wait, seriously? I thought that the rule of 4 a week kicked in if you move from a cash to a margin account. Fucken awesome if true.

>> No.19897742

>>19897607
Foreign broker. Just applied for CMEG, they have 6x leverage as well. Shits good

>> No.19897770

>>19897737
it applies to all day trades in the US

>> No.19897769

>>19897737
Fuck. Misread that. Weird thing is I have always been better at day trading than swing. No idea why desu. Guess its just less stressful to have shit traded and done by days close.

>> No.19897794

Just trade crypto you dumb Boomer you can make 1 billion trades per day if you'd like

>> No.19897803

>>19897607
It’s like we need a way to make settlements instant/near-instant with zero/near-zero fees, and cross border/global transactions. Hmmmm...wonder that could be. I’m gonna create this and call it secret currency and people will be able to use it everywhere on their phone.

>> No.19897847

>>19897794
Not a boomer, but funny enough I was recently looking into it. It has always just been intimidating since crypto and its services have been hard for me to keep up with while balancing work and school. I remember when I think coinbase was the go too coin trader but that doesn't seem to be the case anymore?

>> No.19898008
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19898008

>>19897769
Ha! And I’m the opposite! We need to exchange notes.