if the first answer is right this means that you can only open and close a day trade ONCE every 5 days, because the last day trade in useless if you can't close it
you should check with your broker. it seems each broker interprets it and has their own set of guidelines. Example: my margin account at IB - once you use all 3 day trades you no longer can open a position for overnight or swing. So essentially I'd always have to save a day trade in case I wanted to overnight a stock. if you have cash account there is no PDT requirement. Hope that helped
if the first answer is right this means that you can only open and close a day trade ONCE every 5 days, because the last day trade in useless if you can't close it
is useless*
It doesn’t count as a daytrade if you hold it overnight.
you should check with your broker. it seems each broker interprets it and has their own set of guidelines. Example: my margin account at IB - once you use all 3 day trades you no longer can open a position for overnight or swing. So essentially I'd always have to save a day trade in case I wanted to overnight a stock. if you have cash account there is no PDT requirement. Hope that helped
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