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/biz/ - Business & Finance

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55624695 No.55624695 [Reply] [Original]

>got flagged as a pattern day trader
how fucked am I? why the fuck do they make it impossible to get ahead

>> No.55624724

>>55624695
switch to a cash account retard. starting in september, if you get flagged it stays on your account permanently.

>> No.55624726

>trader
>70-80% of traders fail to beat the market
>70-80% of trader literally get outperformed by passive index fund investors

your broker is saving you from yourself, be thankful and tip them!

>> No.55624735

>>55624695
It's for your protection go- my friend.

>> No.55624752

When will you realize they do not want you to make money?
Start killing those in power.

>> No.55624829

The stock market is only good for long-term investments. It's absolute garbage for anything else and it's the primary reason crypto even exists today, despite the use cases that people assure you are so important that no one actually uses crypto for.

>> No.55624914

>>55624695
Prepare to have all your assets confiscated.

>> No.55626789

>>55624695
1. who flagged you?
2. why is this bad?
3. why are you retarded and trade patterns.

what kind of local shit brokerage problem is this? US?

>> No.55626825

>>55626789
It’s a FINRA regulation. You only need to have 25k+ in your account to be allowed to day trade so OP’s problem is being poor as always

>> No.55626847

>>55626825
>>55624726
and this, OP is a retarded gambler that will end up losing his money anyway so it’s actually a good rule to have to protect dumb retail traders

Money is basically a proxy for IQ, it’s the reason they have these rules about needing to have 25k to day trade or 1M to invest in Private Equity as an accredited investor. It’s to protected the sheep from being devoured by wolves

>> No.55626896

>>55624724
>switch to a cash account retard
This.

>> No.55626923
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55626923

>>55624726
The trick is you make enough money each day to buy yourself a nice meal at subway or Applebees for tenders and fries every day and don’t get greedy. I don’t need to be rich, just a free double pastrami foot long every day

>> No.55626944
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55626944

>>55624695
You can't do whatever the fuck you want with your money when trading stocks? I didn't know that.
How fucking submissive can you be to jews, holy shit? Giving them money and imploring on your knees to adhere to their rules for the tiniest slice of the pie

>> No.55626976

>>55626847
>it’s the reason they have these rules about needing to have 25k to day trade or 1M to invest in Private Equity
What the fuck are you talking about. Is this a USA thing? I have never heard or see anyone face restrictions like this. My portfolio is about€40,000 and I could trade it all if I liked.

>> No.55626979

>>55624695
>>got flagged as a pattern day trader
How does this work?

>> No.55626994

>>55626944
>>55626976
That's because he has margin account, basically he can borrow money from the broker.
He can always switch to cash account and be limited to how much money he has.

>> No.55627010

>>55626994
So you can't daily trade with leverage, but you can with a cash account? I thought the only barrier to entry was having 25k deposited

>> No.55627032

>>55626944
I recently got back into the stock market after years and years of fucking off to crypto instead. I forgot how gay it was. You also can only trade during market hours, can't trade on weekends or holidays, and some other limitations and regulations you have to be aware of.

>> No.55627045

>>55624726
I hate this advice. As long as you arent greedy and actually do some work, then outperforming passive funds isnt difficult. Especially when your a small fry who doesnt impact markets when you enter and close a position.,

>> No.55627055

>>55627032
You are also open to the wim of the brokerage, always with the aim that the little guy can never win. Remember when RobinHood restricted people from buying/selling Gamestop?

>> No.55627069

>>55627045
wrong
>b-but
Youll see

>> No.55627490
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55627490

Stakingchads don't have to deal with these situations so thanks for playing, I guess.
Currently Kava has some really good incentives with that higher than average APY for providing liquidity so I'm all in on that.

>> No.55627493

>>55624695
at least you didn't get yourself liquidated bro

>> No.55627499
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55627499

>>55627490

i would probably consider that as an option if it weren't for the fact that i have already staked my linkies. locked for a substantial amount of time

>> No.55627504

>>55627490
>they want your liquidity
you know how this ends up being, brehs

>> No.55627527

>>55626944
>>55626994
>>55627032
I've heard back in the day when you receive a MARGIN CALL you simply don't pick up the phone and you're "fine".

>> No.55627544

>>55624695
Time to run

>> No.55628518
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55628518

>>55624695
stop being poor and switch to a real brokerage
imagine..... not being able to set market orders
or needing 25k to make three trades a day
lmao

>> No.55628523

>>55626979
It's a broker-agnostic rule set by FINRA, google it retard

>> No.55628525

another benefit of paying ~$1 per contract is that it discourages dumb shit like buying alot of far otm 0dte contracts

>> No.55628526
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55628526

>>55624726
Listen to this man you retard

>> No.55628528

>>55624829
>long term
so leaps, yes
git gud

>> No.55628532

>>55624726
this is tiny hat man trying to keep you down
>dont even try cuz muh stataistics, invest in grypto and pray!

>> No.55628939
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55628939

>>55628532
>NOOOO BRO YOU DON'T GET IT YOU DON'T UNDERSTAND MY MAGIC LINES THAT ARE ARBITRARILY DRAW ONTOP OF OTHER MAGIC LINES THAT I BOUGHT FROM IAMGAY DOT COOM FOR ONLY 699.99 TOLD ME A BUNCH OF SUPER SEKRET STOCK TRICKS!

>> No.55629111

>>55624695
just tip 30% on your taxes and you'll be fine

>> No.55629126

>>55624726
>but bro 90% of traders fail
>this means you shouldn’t even try
Peak poorfag mindset. Why try anything at all?

>> No.55629130

>>55627032
Retard you could just trade futures instead which are all hours of the day. Jesus Christ this board is shit