Do i have this straight from reading the rules, if i, in 5 days, buy and then sell, i am not a daytrader, but if i buy and sell, buy and sell the same stock or other in five days this would account for daytrading because i made four or more trades in the course of 5 working days, no margins.??? if classed as a daytrader, what exactly are the ramifications?? thanks in advance
I think its if you make more than 4 daytrades i.e you buy and sell the same stock more than 3 times in a day in a five day period . So if you buy INTC and sell it and then go ahead and buy GE and sell it and then buy IBM and sell it and then buy IGEN and sell it you can still go ahead and buy XYZ and sell on the same day and so on, but if you have less than 25K in your account you will only have a 2:1 buying power . But if you buy say INTC more than 4 times and sell you will get a margin call. I think this is the jist of the whole thing. I hope i am right as i have not actually experienced it in realtime.You should confirm this with your broker though