This week's point of improvement: CUT LOSSES QUICKER. PDT rule makes it harder to do, and certainly being patient has its merits, but I think the next level for me is to determine which positions require patience and which are simply not going my way. As they say, don't fight the market.
Stupid PDT! Got tagged, but this time not just for a "potential pattern day trade" but I actually executed the 4th day trade and got suspended under the PDT for 90 days. Upon request, however, the designation was lifted. Apparently, brokers are authorized to do this once every 90 days upon agreement by the trader that he will not engage in pattern day trades.
Really need to be more careful especially since I am doing so well. Up over 20% in less than a month of trading! Although the PDT designation was lifted, I will have to wait until Monday before entering a new position. Absolutely sucks.
Totally forgot about the PDT rule. My broker won't let me open a new position until Thurs ("potential pattern day trade"), which keeps me out of PDT. Better a few days of no trading than 90 if i get suspended, I guess
Just joined profit.ly.
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