**Brokerage account trading**
If you trade stocks in a brokerage stock account and you have under $25,000 "net liquidity value", then you cannot show any "day trade pattern" trading or you will NOT be able to trade for 5 business days.
"Day trade pattern" is 4 or more trades in a particular security over 5 business days that resemble day trading...in, out, in, out, in, out...etc.
I learned that the hard way in Thursday's sell off in CME. I bot and sold it a few times and soon found that I can't put on any trades for 5 business days. I can, however, exit positions if I choose to do so.
Giddy up!
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It is said that one "learns something new everyday". Well, those that know me will tend to agree that there's something "just not right" about the way my mind works. I say it adds character. Regardless of anyone's opinion of me, I thought it would be Worldly worthwhile to share the 1 thing that I learn everyday. Keep these thoughts in your back pocket to use at Social Events. Here goes nothing!!
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