Will This work?

Discussion in 'Retail Brokers' started by ewile, May 10, 2002.

  1. ewile


    In an effort to sidestep the pattern daytrader rule, can I open a second account (I already have one) with IB and transfer funds between the two-so that I have 6 trades per 5 days.

    Anyone do this?
  2. trdrmac


    I suspect that this would not work. And I am guessing this based on both audit and computer related checks that brokers have in place for all regulatory requirements. What would work is to just divide your capital between two separate firms.
  3. ddefina


    Just learn to trade the emini's. :D
  4. If nothing else it is creative ...
  5. skerbitz


    or wait 4 weeks (!@#$#@) for the Single Stock Futures ...

  6. 4 weeks? I'll believe it when I see it. There was a link to a magazine article posted here recently that made me think these things are never going to get off the ground. The lobbying by the groups who don't want ssf's seems to be working and the roadblocks just keep getting thrown up.

  7. You can trade options ...

    same $1 per execution

    $1 for 1 option
    $1 for 100 shares

    there will be some more slippage perhaps
    and the moves intrday will usually be less

    but that is one way to trade as often as
    you like without the 25 K rule limits
  8. If trend is up, sell put options.
    If trend is down, sell call options.
  9. I did this for a couple of months. I had one account in my mothers name and one in mine. I switched accounts every other day. I finally switched to futures out of frustration. Please dont tell anybody about what I did.:)
  10. Bad boy, next thing you know you will be spoofing ...
    #10     May 11, 2002