Clarifying day trading rules

Discussion in 'Trading' started by Option Trader, Aug 11, 2008.

  1. If one closes out a trade from the day before, then opens a new trade, is that viewed as a separate trade, or does that use up one of the 4 round trippers?
  2. It has to be opened and closed on the same day. The one from the day before wont count as a day trade because you held it over night. Opening a new trade doesn’t count either, not yet I should say, its not decided until you close it... and caution on thinking you have 4 trades, you have 3, the 4th one is when they nail you... ie "4 or more" not "more than 4"
  3. Thank you. What I meant by "opening a new trade" is on the same stock or options symbol which I closed out from yesterday; is that what you were referring to?