retire56

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?

retire56
retire56 Feb 12, 11:55 AM

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??

retire56
retire56 Feb 12, 2:36 PM

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.

retire56
retire56 Feb 12, 2:37 PM

why if i have 4000 in cash?

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retire56

Last week just a disaster for me.. had 3 days of etrade being seriously slow and one day of that i watched as my holdings went down, kept going down and i couldnt open my etrade trade page... saw one go down 60% in 25 minutes and nothing i could do (during the gamestop, amc, reddit time)... having to re-calibrate now, stuck in some of the positions and will be selling/sold for large losses. (have to update) .

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Received 3 Karmas
simonfuture2
1
simonfuture2 Aug 30, 20 11:59 PM

Thx for sharing, totally spot on with ur tips here, also I like how u added the RSI , I use that all the time for helping me with my entry points. Good luck and let’s get to that bag!

ragincajun83
1
ragincajun83 Aug 31, 20 12:13 AM

@simonfuture2 you know it's funny, I went through a phase where I didn't really use RSI. I had no idea how helpful it was and could be going forward. It's one of my main tools now. Don't know what I'd do without it. Thanks man.

stocker
stocker Sep 02, 20 11:24 AM

@retire56 You can have more than one E*Trade account. I have one cash and the other margin. Plus, two more at other brokerages. They are treated as completely separate from each other.

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retire56

@retire56 just became a fully transparent trader today!

retire56
retire56 Jul 12, 20 3:38 PM

just signed up but purchased novice subscription. dont have access to chat? do i need to change subscription level?

retire56
retire56 Oct 17, 20 9:53 AM

trades not up to date, slowly entering

retire56
retire56 Oct 17, 20 9:56 AM

actual gains up to today is only 277.00

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