Stock tip

[ironchef]

You need to qualify as a pattern day trader, which means you must have $25k in equity/cash minimum in an account. So in your example no you couldn't. But if you have $50k cash in your account, yes you could buy $10k worth of stock using only $5k cash.

FYI ironchef if you have less than $25k in your account you can only buy and sell a position during the same day 3 times per week max.

http://en.wikipedia.org/wiki/Pattern_day_trader


This doesn't apply to FOREX btw.

Yea I know about the round tripping. I usually don't do it, CHTP today was out of the ordinary. I see myself more of a swing trader.

Looks like I have to work my way up to $25k and then $50k.

[SampaGuy]

Yea I know about the round tripping. I usually don't do it, CHTP today was out of the ordinary. I see myself more of a swing trader.

Looks like I have to work my way up to $25k and then $50k.

Yea me too, monday was the first time i did it.

Nothing happens at $50k, that was just my example. All you need is more than $25k.

[ironchef]

Yea me too, monday was the first time i did it.

Nothing happens at $50k, that was just my example. All you need is more than $25k.

Something does happen, you have $50k .

[SampaGuy]

Something does happen, you have $50k .

I would email/call customer service and ask first, tony's probation thing sucks lol.

[tony]

I would email/call customer service and ask first, tony's probation thing sucks lol.

sucks doesnt begin to explain it