|
PureBytes Links
Trading Reference Links
|
> > The new requirements for day trading accounts state that there must
> > be $25,000 in the account. I understand that if more than four
> > trades in one week are closed within the same trading day, this
> > imposes restrictions on the trader.
My understanding is that if you day trade four times or more in one week
(this means more than three), your account becomes flagged as a pattern day
trader (sounds like some sort of addictive psychosis). You then have to wait
until enough trades have settled (T+3) that your account reverts back to its
pristine state and you are no longer a pattern day trader in order to trade
again.
I have also heard that IB is not giving 4-1 margin to anyone, regardless of
how much is in your account. This I learned from www.elitetrader.com which
has a lot of threads concerning IB. It is very useful in this regard and in
general. One of the elitetrader members, who contributes frequently, is
known as def. He is employed by IB and answers people clearly and promptly
on the elitetrader site. You can also get his email address through the
site.
Hope this helps.
Gila
----- Original Message -----
From: Michael Ferguson <wl7bdn@xxxxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Thursday, September 20, 2001 10:54 PM
Subject: Re: [RT] Question on Day trading restrictions
>
> I have emailed IB several times asking for a specific answer to this
> question, and they refuse to state one way or the other. They will happily
> talk about what it means to those with $100,000.
>
> Hopefully someone has a definitive answer to this.
>
>
> > The new requirements for day trading accounts state that there must
> > be $25,000 in the account. I understand that if more than four
> > trades in one week are closed within the same trading day, this
> > imposes restrictions on the trader.
> > Do these new restrictions apply to trades even if they are fully
> > funded, or only to those day traders who are given special lower
> > margin requirements? If it applies even to fully funded
> > transactions, then a prudent trader who closes out losing trades
> > quickly to keep losses small will be penalized for his prudence.
> > Does anyone know for sure?
> >
> >
> >
> > To unsubscribe from this group, send an email to:
> > realtraders-unsubscribe@xxxxxxxxxxxxxxx
> >
> >
> >
> > Your use of Yahoo! Groups is subject to
http://docs.yahoo.com/info/terms/
> >
> >
>
>
> To unsubscribe from this group, send an email to:
> realtraders-unsubscribe@xxxxxxxxxxxxxxx
>
>
>
> Your use of Yahoo! Groups is subject to http://docs.yahoo.com/info/terms/
>
>
------------------------ Yahoo! Groups Sponsor ---------------------~-->
FREE COLLEGE MONEY
CLICK HERE to search
600,000 scholarships!
http://us.click.yahoo.com/47cccB/4m7CAA/ySSFAA/zMEolB/TM
---------------------------------------------------------------------~->
To unsubscribe from this group, send an email to:
realtraders-unsubscribe@xxxxxxxxxxxxxxx
Your use of Yahoo! Groups is subject to http://docs.yahoo.com/info/terms/
|