If I have $80k Day Trade buying power, can I use the full $80k multiple times in one day…?
So, I have a strategy where I want to trade stock in XYZ corp in $40,000 blocks anywhere from 5 to 10 times a day, with never holding more than a $40,000 block at a time, can I do that with only $80,000 worth of day trading buying power? Or am I limited to doing this only 2 times ($40k X 2=$80k) a day without violating Reg T — free ride rules?
For example, buying $40k selling it than buying it again, than selling it, etc. at least 5 to 10 times a day. My understanding is this would likely put me in violation of free ride rules? Can anybody answer this for me….thanks
Also has anybody ever tried program trading….does it work? Any advise…?
my concern is if I do this 10 times in one day, I have essentially bought and sold $400,000 worth of securities that will not settle for three days….and I think this would constitute a violation of free ride rules…..? Am I Wrong…?
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about 1 year ago
You’re asking Yahoo instead of your broker?
about 1 year ago
interesting i dont think you can do that…
i have a question is this just for you or do you work for someone. have you heard of active management?/ paul detrich?
about 1 year ago
To the best of my knowledge, I believe you are indeed violating Regulation-T rules, which can result in legal trouble for you. Also, I use to day trade until I lost about $40,000 of my own money. Now I work at Cosco and I am 39. My advice; be very careful in this market.
about 1 year ago
With the limited knowledge of trading that you seem to exhibit with these questions, I am very surprised that you are willing to risk that kind of money in the markets. Why not save the commissions and just send it directly to me? I’ll pay the costs.
about 1 year ago
There are 3 separate issues to address in your question:
1) Freeriding: If you have a margin account, which it sounds like you do, T+3 settlement issues generally do not apply. You can’t freeride in a margin account.
2) Daytrading: If you have less than $25k in your margin account, you can’t daytrade more than 3 times in a 5-business day period or you’ll be labelled a pattern daytrader and be required to bring your account up to $25k and keep it there. A “daytrade” is the buying then selling OR shorting then covering of the same stock on the SAME DAY. Once you have $25k in the account, you can daytrade all you like.
3) Assuming you have at least $25k in your account, yes, you can buy & sell up to your available buying power multiple times per day as long as your broker uses the “time & tick” method of record-keeping, which most (but not all) do. It’s best to ask you particular broker to make sure.
Edit: Funny that some genius gave me a thumbs down when everything I said is 100% correct.
about 1 year ago
Ask at wherever you have your trading account. I can do this with my account, as long as the total I own at any one moment is not more than the total available to me. I can buy $100,000 of XYZ, sell it ten minutes later and buy the same amount in ABC if I have 100,000 in the account. This is my own cash I’m talking about, not margin. I can’t take any cash out of the account until settlement but can make multiple trades within the account on the same day. But I’m in Canada, I understand we have some different rules.
about 1 year ago
If your account is what u say it is, then why are u buying stocks. The short moves of a stock brings in minimal results. Buy the stock options. They are cheaper and yes, they are more volitale, but the returns are much greater. I trade stocks with options. I have developed my own short term trading method that produces a 90%+ accuracy. Will be willing to pass along recommendations as they develop. Email me at openrangetraders@gmail.com.