Trades take 2 days to settle (T2). Even with immediate access in a margin account you would be limited under the Pattern Day Trader rule (PDT) until you can maintain the required minimum. Less trading is a good thing anyway while you study and only trade the best setups. Good luck!
@Adam3561 Aww ok i just read it again and saw $500. Yeah it's gonna suck until then..
Trades take 2 days to settle (T2). Even with immediate access in a margin account you would be limited under the Pattern Day Trader rule (PDT) until you can maintain the required minimum. Less trading is a good thing anyway while you study and only trade the best setups. Good luck!
Wait so even when I get the 2000 saved up for margin it will still restrict me until I can maintain that balance?
You need 2000 to sell short and 25k+ to make more then 3 day trades in a rolling 5 day period. This article explains PDT: https://www.investopedia.com/terms/p/patterndaytrader.asp
Join now or log in to leave a comment