
i still dont have a good handle on ptd. my account was small to start and i limited myself to no more than 3 day trades per 5 days. Account has grown and i now have over 25K... so my understanding was that i could increase number of day trades as long as i maintain 25K. so yesterday i exceeded the 3 trades per 5 days and it triggered pdt status.. also yesterday i had 5 k in cash available for withdrawal. Today that 5 k is available for trades but i can not withdraw it until feb 17?? why are they holding my funds? (i am allowed to trade with it, just not withdraw it) It is my understanding that once triggering pdt status that stays in effect even if i didnt do a day trade for weeks. But that raised a hypothetical.. what if i needed to withdraw a large amount (by cashing out stock ) lets say for taxes.. and that decreased my account to below 25K.. what are the options? (if i had to take money out, putting money back in to get back to 25K wouldnt be done quickly.... so what are the penalties? could you go back to less than 4 day trades, or are you not allowed to day trade at all. Seems strange that they withold funds from withdrawal for 5 days. (which they didnt do before) and that you basically can't access 25K of you funds at some point without penalty. Could some one clarify for me?
adding.. i have 4k in cash but when i am placing trade it says i am exceeding my intraday purchasing power (order was for $900).. and may need to hold overnight??
here is the message i getImportant: This order exceeds your intraday (but not your overnight) buying power. You "can place the order, but it will need to be held overnight to avoid a day-trading margin call.
why if i have 4000 in cash?
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