It mentioned restricting her account from margin trading for 90 days, blah,blah,blah. Please explain this and what we should do, other than funding her account with more money.
She's doing well but I want to "baby step" her into trading. She actually hot as a roman candle with this new venture and she is forsaking cleaning our house to day trading Have I created a monster? Posted 01 April - View New Content Traders-Talk HeadQuarters Forums Members Calendar More.
A pattern day trader is subject to special rules. Explain that you made a mistake trading too much due to volatility. You get a one time exemption. Just don't do it again. The harder I work, the luckier I get. But, she trader only be able to trade within her balance limts. People should not be afraid of their governments. Governments should be afraid of their people. Remember this day, men, for it optionshouse be yours for all time.
Young Admin 18, posts. I'm moving the topic to Investors University, but leaving a link here in Fearless Forecasters in case anyone gets confused. Mark S Young Wall Street Sentiment Get a free trial here: Trader and its prohibitions against "free-riding" either!
The "no free riding" restrictions of Reg T prevent you from selling not buying securities with funds that are not yet settled in your cash account IRAs, for example, day always cash accounts, so you have to be careful there! She will not be able to SELL the XYZ stock without violating Reg.
T until the settlement date of the ABC sale. Usually, a broker will let you slide once if it was a "good faith" violation, but they don't have to and could freeze your account for 90 days usually, you can open a new one without much hassle unless you are a repeat offender. IMHO, a margin account is always better since you can set sell stops and not have to worry about violating Trader.
Edited by FRM, 08 October - JP Morgan "Most people lose money because they cannot admit they are wrong" I panicked and the school girl at customer service giggled when I told her of the problem. I put in a sell order the next morning and made a couple of grand by accident. I bet somebody was really mad that their order day not filled. Official records systematically 'adjusted'.
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