we cannot daytrade? any buy gets recorded at end of day.but if we buy and then sell..it is the difference between end of day price and open price?? or is it closing price of next day?
From what I read you cant daytrade. All orders are filled at the end of the day. If you place a buy and then a sell i think the sell will get rejected because you dont own the shares yet.
My interpretation is a BUY and SELL on the same day (before 4pm) is a wash: since the buy and sell price is set as at 3:59:59pm and would be the same. The rules imply that you should not buy and sell or sell and buy the same stock on the same day.