lose $50 I mean.

@Chongette32 Thanks for the advice it is much appreciated. Great advice for some reason i was thinking you meant .04 instead of .40, so used to seeing the 0 after a number lol. Thanks agian

The .06c represents the current buy price?

haha no worries. 6 cents is your risk or how much you're willing to lose per share. So 80 cents minus 74 cents just say. With that equation that's how you work out your position size based on how much your'e willing to lose dollar-wise.

congrats!!

Congrats i started about two weeks ago and know exactly what you mean. Goodluck to you

The key to trading with Cash accounts is to only trade with settled funds. If you have $10,000 in your account and you perform three days trades on Monday then you'll have to wait for those funds to settle 3 days later before you can trade with them again. I converted one of my TD Ameritrade margin accounts to a Cash account and day trade options every week and do more than three day trades and never got flagged.

Also, the way I understood it back when I was with Scottrade, if you have a Cash account with $10,000 in it and you use $5,000 to to day trade on Monday, those funds won't settle until 3 days later, which is Thursday. You can still trade before Thursday but can only do so using the remaining $5,000. If you day trade with the remaining $5,000 on Tuesday then those funds won't settle until Friday.

Where I think things can get a little ugly with Cash accounts is that the 3 day settlement period applies to both day trades and swing trades. Even if you hold your positions overnight and sell them the next day you still have to deal with the 3 day settlement period whereas you don't have those types of restrictions when swing trading with margin accounts.

Day-Trading Margin Requirements: Know the Rules http://www.finra.org/investors/day-trading-margin-requirements-know-rules

"buy the fucking dip" I LOVE IT!!!

There's some irony in Broccoli Man talking about the dip ... haha!