Is it possible to make 3 day trades a week on Monday, Wednesday, and Friday in order to avoid being labeled a day trader. I don't have 25k so it would be great to avoid day trader status. Monday...............(1 day trade) [1 total for the last 5 days] Tuesday Wednesday.........(1 day trade) [2 total for the last 5 days] Thursday Friday.................(1 day trade) [3 total for the last 5 days] Monday..............(1 day trade) [3 total for the last 5 days] ..........It's only 3 because Monday through Monday would be a 6 day period. Tuesday Wednesday..........(1 day trade) [3 total for the last 5 days]........same as above, if you include the previous wednesday, thats 6 days Thursday Friday..................(1 day trade) [3 total for the last 5 days].... etc. Does that make sense or is there some flaw to this logic?
there is a flaw to the logic in your initial statement "Is it possible to make 3 day trades a week on Monday, Wednesday, and Friday in order to avoid being labeled a day trader." also ask "Is it possible to kill 3 people a week, on Monday, Wednesday and Friday in order to avoid being labeled a serial killer."
Yeah, I heard about futures not having daytrading rules. I asked support at thinkorswim and they said that it seemed fine as long as I didn't exceed 3 trades in 5 days.
Nobody here can relate to your problem or think it makes much sense. We're either futures traders or the stock traders have plenty enough to meet the 25k minimum. What you are saying just doesn't make any good sense ... let's say one of those days you miss, is an excellent day for your system. Then what?
IF you do not have 25K why are you bashing your luck against these cruel markets? Save you money, it will be gone in 6 months. No point being under capitalized when the markets are merciless on people with lot larger stashes.
i think your 3 daytrades per 5 day is fine and you wont get frozen fo r90 days. BUT...why dont you want to daytrade?You should focus on making 1 really good day trade or 1 swing trade/overnight trade with conservative dow stocks etc...like making a day trade today in ge,vz or leh would be good enough for a week...if you currently donmt have 25k then its really hard to make worthwhile money daytrading or scalping.In fact you'll be better off mentally and financially just making a couple of trades per week or month...Take it easy...dont rush into it...
By definition I'm daytrading because I'm buying and selling in one day but I'm really not a "daytrader" because I'm only doing this once in a given day and I'm looking for bigger moves. I'm not trying to use daytrader strategies while being undercapitlized. You guys are right, that doesn't work. The reason why I'm not holding positions longer is that I want to avoid overnight risk and margin interest.
my post should say why do YOU want to daytrade....not why DONT you want.... sorry for the typo.... If you dont want to hold overnight positions and who can blame you ,dont trade at all....I havent traded in a 6 weeks...got whacked real good in january....so im just chillin til the wackiness has mellowed out...