Well I bought drys at 5.80 and a little later it spiked to 6.80 but no I can't sell I have a small account and I'll be patterned as a day trader so I held and now I'll probably be burnt in the morning
Well I bought drys at 5.80 and a little later it spiked to 6.80 but no I can't sell I have a small account and I'll be patterned as a day trader so I held and now I'll probably be burnt in the morning
No it doesn't, you just need to hold stocks overnight or trade less...it forces you to become a better trader
Well I took the trade because it looked like the stock pattern was changing direction and it was holding 5.80 pretty solid ....Tim Sykes you are the man I watch you all the time but the pdt rule still sucks a person should be able to trade as much as they want
Not saying it won't make me a better trader
I would suggest that you check out Mathew Owens' Trading Around Equilibrium DVD, and trade futures. Futures have no PDT rule. My account is at 2600 atm and I can trade futures to my hearts content. Just be careful with them because money can leave your money fast with them. You also have to employ a different trading strategy with them, or at least alter Tim's strategy to trade them.
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