Not another pattern daytrader question!

Discussion in 'Retail Brokers' started by janko, Feb 28, 2002.

  1. janko


    sorry guys, i have been on this board for couple of years and seen al the discussions on this daytrading rule, but as i was reading thorugh IB disclosure statement it said:

    The Day Trading margin requirements are in effect from 9:30am to 3:55pm NYT each trading day, and at 3:55pm each trading day regular stock margin requirements will govern until the opening of the next trading day.

    i dont need a long threda on this and administrator feel free to kill it after a few posts.
    but my question is, if the PDT rule is in effect from 9:30- 3:55, does it mean that i can have a daytrade in the pre market hours and not count it towards a day trade? or can i open a position in pre mkt and then close it during the day, would the system read it as a closing position from previous day?
    thnx for a brief explanation/
  2. Htrader

    Htrader Guest

    No, you cannot. pre-market counts as the regular day in terms of daytrades. The 9:30-3:55pm rule refers to the 4-1 daytrading margin. You still need 25k.
  3. janko


    thnx htrader. i got it now.
  4. neo_hr


    He he Jan, you clever sod :cool:

    I thought about the same thing a while ago but you already got the reply NO IT CANT BE DONE. BEsides, dnload IBs trader workstation and in the top line youll see a number 3 (daytrades9 Thats how many daytrades you have left in this 5 day period.

    Cheers man