Definition PDT-Question

Discussion in 'Trading' started by pete180, Sep 26, 2001.

  1. pete180

    pete180

    under 25.000 $ traders
    if I buy today three different stocks and sell em tomorrow, did I finish my trading week ? or can I buy tomorrow again and sell the day after tomorrow and so on ? the question is: am I a PDT if I always hold overnight ?
    thanx
    pete
     
    #1     Sep 26, 2001
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  2. Atlantic

    Atlantic

    pete - you are not. pdt concerns pure intradaytrading.
     
    #2     Sep 26, 2001
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  3. pete180

    pete180

    would this mean that i could make as many trades as i want if i stay in every trade overnight ?
     
    #3     Sep 26, 2001
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  4. Atlantic

    Atlantic

    yes - i think so. but holding overnight can be very risky these days. and if one of your stops gets triggered the same day - you would have a daytrade.
     
    #4     Sep 26, 2001
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  5. tuna

    tuna

    Pete....My understanding is you are allowed 3 roundtrip daytrades in any 5 day period. Anymore you're classified as a pattern daytrader.
    Anything held overnite is not a daytrade so doe'snt count,..do as many as you want.

    Take a look at EXDS 24/9---25/9 shows that to do it that way it may pay to be on the ball at 8am
     
    #5     Sep 26, 2001
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