Three trades per Broker ! I found the PDT had its advantages. The biggest is it saved by small account from dwindling away with over trading, not enough knowledge in the beginning, and enormous fees.

@Jules exactly

Thank you for the advice guys!

@timothysykes gotcha, I felt like I was doing the same as well but I guess the difference is I don't have the same experience as you do haha. I realized that I'm not good at overnight holds so I've decided not to hold positions overnight. If I do I'll make it a very small position so it doesn't hurt my account.

Haha right? i got burned bad like that, all my trades from suretrader say my winn/loss b.c. (before commissions) and i think it was mostly my fault too for overtrading. Im saving up fro interactive brokers. I also use Robinhood which is commisson free. I havent had any problems with anything really, the set up is fast, within minutes youll be setup and be trading today. i use it for my small account because as Tim mentions, out since there is no commissions, i think more people than not will use

it as an excuse to trade when they shouldnt, like i did at first lol

Thanks Tim for the link...I will move to IB & ETrade too

Yes @MadMan79, agreed better to follow PDT with 2 brokers to allow max of 6 trades per week than overtrade and pay those useless commissions with PDT free brokers!! Lesson learnt the hard way!

it's total bs... I really don't get it either

Check out Ustocktrade. $1 trades+$1 dollar monthly membership= No PDT rule and instant settlement. It is a Alternative Trading System(ATS) so it follows different rules than a broker.

the PDT rule only applies to margin accounts. In addition to Ustocktrade, Suretrader does not have a PDT rule.

Its perfectly fine to use.. I was able to deposit money and take it all back out. Without the PDT rule, you have to be very careful with over trading or else you will bury your own grave and blow up your account.

Thank you!

my whole small account strategy is based off of buying after hours and selling in the morning. This way it doesn't count as a day trade

Thanks for sharing!

Thank you!

This is really helpful