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Question on Trading rules
What if I became a pattern day trader with an account balance below 25000 dollars and my brokerage firm disabled trade until my account was brought up to 25000 dollars is it possible to put my money with another brokerage firm without them knowing I broke the FINRA rule 2520? Basically I am looking to brake the rules?
If you are day-trader status and you flip a stock while under a 'minimum equity call' situation-you will be restricted to account cash status trading for 90 days.-If you want to go to all the trouble to transfer your account to another brokerage & wait for cash to settle just to then make 5 round trip flips before getting restricted again?---Good Luck
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fz4fun
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It's only money----but try not to lose it, OK?
fz4fun is 100% correct. Another thought - if you are day-trading, you might want to consider the emini futures contracts rather than individual stocks. Great trading vehicle for the serious day-trader.
