You must read this if you have a small account (less than $25000) like me. I have crossed 3 day trades allowed within 5 business days on my E*trade account. It happened unintentionally because I was scaling in and scaling out of a trade. Then I received the following warning in my account.
I called E*trade customer service and explained my problem. There is a little known fact as first time offender. They can allow an exception if you have done this extra day trade for the FIRST TIME. They removed my restriction and I am back to business. So, please contact your broker if you have this problem in future.
Thanks for reading.
Posted Nov 23, 15 9:58 PMbymaroon8
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I cannot wait until you start doing this with your small account next year. It'll teach me alot
Thanks Tim, Yes, I am holding some stocks overnight and using multiple brokers to avoid this situation.
I am so glad I saw this post. I violated that this morning. Are you still able to trade on margin?
@motoman1500 Yes.
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