Does this mean that if you trade a different vehicle ie different stock or different options every day, that you will not be labeled a PDT?
No. Once you enable margin, they track the # of your trades in the "Quotes & Trade" menu so its easy to keep up with. If you go over, you are immediately tagged a PDT and they slap the restrictions on.
I was under the impression that it didn't matter what you traded....different stock....same stock......options....etc....that if you did more than 4 "in and outs" in any "rolling 5 day time period" you would be tagged a PDT.
It's easy to say that you want to do longer period swing plays, but if your stops are too tight you will get stopped out on a daily basis and essentially become a "PDT". This happened to me. It didn't affect me in an adverse way so I'm not complaining, but just be aware that a few positions that go against you early on could affect your status.
Doesn't make much sense. The best way for somebody to learn is to day trade. If it is so risky, you would think they would rather somebody trade with a small account. Oh well, I guess it's none of my business how much anybody has in their account. I just don't understand why it is the governments business how anybody wants to spend their money.