This is to all of the guys / gals that are battling with not getting an active day trader, (PDT) violation. I feel your pain. Timothy Sykes gives us all plenty of homework and information to digest and keeps us busy but to stay on the sidelines and watch the community make so much money just because you can't trade for the day without getting an PDT violation SUCKS!!! The answer to that is to open another brokerage account or two. It has it's pros and cons for example, I opened Thinkorswim, E-trade and Charles Schwab. I had $6000 in E-trade and I then transferred a third of that amount to Schwab and the other third to Thinkorswim. $2000 is the key in each account so that you can be on margin, critical for shorting. This way you can trade at least once a day and sometimes twice. Okay, that was the pro now here's the con, It is dam confusing trying to trade three platforms. I have made a few mistakes that have caused a trade when I didn't want to but mostly it just slows me down on executions because I have to rethink what platform I'm on. I love it though!!! Put me in coach! I feel like a real trader when I can trade everyday. What it also does is lets you try three different platforms. Once I have enough money to be an official day trader I will choose either StocksToTrade or one of the three platforms and get busy. I would like to end this blog with a special thanks for all the work Timothy Sykes goes through to teach us spoiled rotten beaches.
It's the PDT and hold stocks overnight and you're fine...if you're bumping up against it, you're overtrading, especially with a small account
I corrected thanks.
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