Is anyone familiar with TD Ameritrade? Do I need 25k to day trade? I only funded a few hundred to see how they react to trading But after I sold the first time today my "unsettled cash" can't be used.
Is anyone familiar with TD Ameritrade? Do I need 25k to day trade? I only funded a few hundred to see how they react to trading But after I sold the first time today my "unsettled cash" can't be used.
Most brokers will require a minimum of 25k for day trading. You can still trade up to 3 times open/close trades within a 5 day period. I've traded on unsettled funds with Scottrad, usually receiving a warning message prior to confirming the order.
I figured as much. I may have to settle for the 3 trades and work my way up.
Honestly, that restriction is making me a better trader. Good luck!
Keeps you from getting an addiction and losing it all lol thanks
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