Dunno about your account size, but watch out for PTD rule. Never revenge trade either. Lick your wounds, study, and get back in the game tomorrow. =)
It look like you are using Etrade, I use them to I was recommend creating an account with TOS I don't use them for trading just for the on demand and the charting. True what daber360 stated if you have a small account watch you day trades in Etrade it under the balance section.
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the easy answer is a pump and dump!.. The question is how did you get the info? what charts did you run? what times did you review, what news did yu look for? where did you get the info? what is the story on the play? who is what? why was it sold or bought? STUDY IT befor you lose your ass! trust me look at my profit chart and read my trades!!!
Sorry to hear about your recent personal losses. As tough as it may be you need to cut your losses and get out. There's always a chance it might spike back up but there's more of a chance that it doesn't and your loss will grow. Take the hit now and study your ass off. All the best!
Dude, that's too much of a broad question. That's like asking: how many stairs are in a staircase. It would depend on the height. You see where I'm going with this? There is no simple answer, since we don't know the stock etc.. Sounds like you bagholding bud, I'd take the loss however big it may be
But yes, it is a pump and dump. They literally have: 12k in cash, 715k in debts, 62k in revenues and 9.2k in profits. All of this found on yahoo finance in 2 minutes. Haven't even checked the SEC filings and my advice would be: get out
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If your account was flagged with a day trade then it will be removed on the following Tuesday per your example
PDT rule only affects margin accounts. My solution is just to go long with a cash account until you acquire the 25k.
There are the FINRA rules, and then there's the determination of the broker as to whether or not an account is flagged for PDT. Make sure by checking the documentation with your broker and resources like these: https://www.sec.gov/fast-answers/answerspatterndaytraderhtm.html , http://www.finra.org/investors/day-trading-margin-requirements-know-rules . Once an account is flagged for PDT, it doesn't go away.
Most brokers will keep tabs on your day trades and make that info visible.
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Hi Bob, thank you very much for your watch lists and information.. Have really appreciated learning from you. Just wondering how a big a stop you use on your trades? Some of these breakouts pull back for a couple days, like the ImmunoGen you mentioned from a few watchlists back, pulled back and is now breaking out again.. Thanks again for your posts!
On swings, the stops are further away than a day trade. I set the stops at major support and resistance levels. I post my swings on twitter showing the stops @turbobob129
Thank you TurboBob
I think you should try swing trading. The volatility of day trading requires your 100% focus. Keep your job and swing swing trade until your have enough money to day trade full time. Another alternative is to get a job working second/third shift and trade during the day. I don't have STT because I told myself that I need to hit a goal $ before I buy it, but I use the fidelity app alongside tradingview.com and constantly watch the stocks I'm focused on.
+1 for tradingview. also thinkorswim mobile doesn't use a lot of data & I do all my trading from my phone
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