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2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

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24003087 No.24003087 [Reply] [Original]

>Buy and sell too many stocks in a week
>Dip down under $25k in your margin account
>Go to jail

https://www.warriortrading.com/pattern-day-trader-rule/
>Pattern Day Trader (PDT) rule is a designation from the Securities and Exchange Commission (SEC) that is given to traders who make four or more day trades in their margin account over a five business day period. A day trade is when you purchase or short a security and then sell or cover the same security in the same day.
>Essentially, if you have a $5,000 account, you can only make three-day trades in any rolling five-day period. Once your account value is above $25,000, the restriction no longer applies to you.

How can anyone defend this shit?

>> No.24003149
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24003149

>>24003087
dont trade goy, buy buy buy

>> No.24003230

>>24003087
Only rich people are allowed to make money

>> No.24003437
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24003437

>>24003087
does this apply to crypto trades?

>> No.24003537

>>24003437
I honestly don't know, but I imagine they want it to if it doesnt

>> No.24004093
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24004093

>>24003087
IN THE LAAAAAAND

>> No.24004159
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24004159

LAND OF THE FREE

>> No.24004198

>>24003087
Wow this is even more kike'd than the "Accredited Investor" rule, where you need over 1 million net worth to even be allowed to invest in certain things like securities.
>It's for your own safety, goy!

>> No.24004308

You don’t go to jail, lmao. They just freeze your Robinhood account.


t. Happened to me last year, frozen for 3 months then back to normal

>> No.24005106

>>24004308
They just unfroze it? Or did you need to deposit more funds? Do they freeze the funds you currently have in your account?

>> No.24005176

>>24003087
You can thank Pocahontas for that

>> No.24005240

>>24005106

No. You are just banned from making any day trades for 90 days. You can still withdraw your money, buy stock, sell stock, etc. but you just can’t buy and sell the same stock in a day anymore

>> No.24005294

>>24005240
What a dumb rule

>> No.24005306

>>24003087
this is one of those redpills that makes even communists reconsider the concept of "free" market
tell it to literally any lefty friends you have and watch them recoil in absolute disgust

>> No.24005588

>>24003087
>no goy, the stock market is only for chosenites to make money. Filthy goyim get back in your wage cages

>> No.24005970

>>24005176
She's the most obvious example of controlled opposition i can think of.

>> No.24006755

>>24003087
>this is the freedom these bootlickers keep talking about