Pattern Day trader rule

Discussion in 'Retail Brokers' started by Samson77, Nov 14, 2005.

  1. I have an account at IB that was flagged PDT.

    They tell me that once it is flagged it can not be converted back to a regular account :confused:

    Is this true.
  2. plugger


    You've crossed the line. All is lost now.
  3. jsmooth


    "An SEC designation applying to any individual who buys and sells a particular security in the same trading day at least four times in a five-day period, and for whom same-day trades make up at least 6% of the trader's activity during that period. Pattern day traders are subject to special rules. "

    You need at least 25k in your account to get around since your flagged, i assume its basically like a margin call for 25k
  4. bighog

    bighog Guest

    Switch to trading the ES, ER2, YM, NQ, tell the NYSE to take a walk.....:D Futures are where it's at....:)
  5. magicz


  6. Here's the thing !

    I used to use this account in the past but now I want to just trade options in it but they won't let me trade anything because it only has 24 k in it.


    This is the stupidest thing I have ever seen.

    So now I have to close this account and open a whole new one ?

    Why not just say that unless an account has over 25k it can daytrade but under it can not?
  7. Thanks nyc

    Nice to see you back on the forums.
  8. I'm still here. From time to time I still throw my 2 cents in (which is worth only about 1 cent). lol
    #10     Nov 14, 2005