Maybe someone can help with this question as I don't eant to risk being stuck with PDT and haven't been able to find a clear answer:
If you're at your PDT limit for the rolling 5 days and do a 4th trade, but hold it overnight are you going to be affected by PDT or will it not count against it even though you've done 3 in the rolling 5 day period?
My hunch is that you'll be fine, but does anyone have acrual experience and or knowledge about this?
Thanks in advance!
Posted Dec 07, 17 12:09 AMbyothealpha
Categories
Basics
if the first answer is right this means that you can only open and close a day trade ONCE every 5 days, because the last day trade in useless if you can't close it
is useless*
It doesn’t count as a daytrade if you hold it overnight.
you should check with your broker. it seems each broker interprets it and has their own set of guidelines. Example: my margin account at IB - once you use all 3 day trades you no longer can open a position for overnight or swing. So essentially I'd always have to save a day trade in case I wanted to overnight a stock. if you have cash account there is no PDT requirement. Hope that helped
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