A few days ago I accidentally found out that 1 opening and 2 closing trades on E*Trade only counts as 1 day trade. I accidentally found out that 2 opening and 1 closing on TD Ameritrade only counts as 1 day trade.
Had a position opened premarket and was trying to close it right before a meeting as the market was opening because my thesis wasn't holding up. Wasn't paying attention and doubled my position instead with a second buy. Realized it about 15 minutes later after my meeting and frantically closed it (for an accidental gain). Checked my balance online and the day trade count only showed 1 day trade.
Still need to try 1 open and 2 closing trades on TD to see what that counts as but at least in this case (1 pre-market buy, one regular market buy, and one regular market close), you can scale in with TD Ameritrade and close out in one order and only use 1 day trade.
Thanks for the info I started with TD a little bit ago and have been wondering about scaling in and out of positions effecting my day trades. THANKS
@Jason_Raposo yeah, it's amazingly annoying. I read the SEC rule way back when, really closely, and was pissed when I saw E*Trade didn't follow the rule exactly. I'm sure the specifics for each broker is laid out in the user agreements but I'm too lazy to look for it.
@phuhinvesting just be sure you have an extra trade available if you do it (don't be down to your last trade). I know it worked but there's a chance it might be contingent on having a premarket trade involved or something else really stupid.
Of course. i probably wont be trying it unless a 4-5 star setup rolls around and I decide to increase my position size. Thanks for the advice though truly appreciated!
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