Recent week i did more that 3 daytrade per 5 days. And i cannot do trades anymore. I was told that i have 2 options To transfer extra amount which exceed 25k Or i get 90 days penalty Do i have 3/d option to withdraw my money? Does any of you has faced to similar problem?And what have u done?
Before getting a PDT ding, I recognized the risk and deposited mo' money in the account. I've heard tell that you can appeal it if it's your first time and they'll let it go once.
a. You can get forgiven, if it is the first offence. b. You may withdraw your cash. c. Open up a futures account with NO PDT BS rules, and lose the rest of your funds much faster!
You need to learn about and how to trade futures. The game you're playing is actually one of the most rigged games around, and only really playable by deep pockets at this point in time anyway.
WTF are you asking us for? WE obviously don't trade stocks with less than $25k, LOL ... call your damn broker already! Sheesh ... :eek:
Switch to a cash account. Overnight settlement for options and no PDT. 3 day settlement on stock though
So what you're telling us is that you're trading with an account that has a balance of less than $25k an that you really have no idea what the regulations are in regards to buying and selling the same stock every day. It's called a Pattern Day Trader and the SEC has restrictions/regulations in place regarding such. You need to contact your broker and admit you really have no idea what you're doing and hopefully they'll get you off the hook. They'll likely slap your hand as well as ask you to get the account funded so that you've got at least $25k. I'm sure you'll find printed information on PTD on the web site of your broker.