Dear fellow traders,
Interactive Brokers has an algorithm that rejects any fourth trade, if 3 day trades have been executed within the prior 5 working days.
How should I manage my available day trades, if I also want to do overnight swing trades?
Is it enough to always keep one day trade available at any time to be able to swing trade, or do I have to consider anything else as well?
Thanks in advance for any tips.
Cheers,
Gordon
@BASSxMASTER thanks for the reply. I try to do more overnight trades until I'm out of PDT.
@Kody Thanks. Cash account is not an option for me. I want to be able to short-sell and to use more buying power to wnter higher priced stocks. I will study up on overnight holds and short-term swings.
You can also open up a sub account and transfer some of your funds over to that. So you have two trading accounts, allows you to get around the PDT but buying power limited but the amount you split up.
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