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Warrior Trading // Ross Cameron // Day Trade Warrior

On the one hand, we have a lot of choices. We can trade with us Brokers or International but of course we're restricted by that pesky PDT rule the pattern day trader rule. So all U.S Brokers enforce it not just on U.S residents, but on International traders who open accounts with a US broker. So the PDT rule states that if you're going to day trade in a margin account, you need to maintain at least twenty five thousand dollars to be able to take an unlimited number of day trades.

So the two ways around that would be one to trade in a cash account. But then you have to wait two days for every trade to settle. So if a five thousand dollar cash account with TD Ameritrade you could trade by five thousand dollars worth of stock on Monday but then on Tuesday there's no money available. You're waiting for Monday's trades to settle which settle Wednesday morning.

So then you could trade five thousand dollars again on Wednesday.

By Stock Chat

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12 thoughts on “Navigating the pdt rule for day trading brokers #daytrading #trading #stockmarket”
  1. Avataaar/Circle Created with python_avatars Ohad Oren says:

    So how do you trade without this problems Ross? And what can I do to trade on td with a cash account?

  2. Avataaar/Circle Created with python_avatars VSci says:

    Orrr, trade $2500 on Monday, $2500 on Tuesday, $2500 on Wednesday, $2500…I think you understand.

  3. Avataaar/Circle Created with python_avatars Premeditated Profits says:

    The PDT Rule was def something that Limited my growth early on. The way I got around it is just trading Options vs. Trading Shares. Trying to play the "Settle Days" is really not worth it. Just trade Options until you make enough then switch back over to Shares. Options also have No PDT Rule in a Cash Account but you trade with the type of size you want to whereas in Shares you are severely limited if you have a small account.

  4. Avataaar/Circle Created with python_avatars kawasaki450fast says:

    just open 2 or more brokers accounts then day trade and alternate accounts

  5. Avataaar/Circle Created with python_avatars Cobu Lin says:

    The sec made an amendment to this rule were t+2 is now goimg to be t+1. It goes into effect march 31 2024. So you can use all your bp an have it ready next morning instead of having to wait 2 days

  6. Avataaar/Circle Created with python_avatars James Phillips says:

    Futures.

  7. Avataaar/Circle Created with python_avatars Buffalo Bill says:

    Options settle in full overnight fyi

  8. Avataaar/Circle Created with python_avatars ZachATK says:

    Hey Ross, I'm trading with real money after practicing in the simulator for a couple months while learning your strategy. I was wondering how I can get around the pdt rule to grow my account. Should I go to another broker stay in a margin or go cash if I'm starting with 5k

  9. Avataaar/Circle Created with python_avatars Geraldo Riviera says:

    The PDT rule was increased to 4 or more trades within five business days. Not sure when, but you may want to check that out, and change it on your website if you haven't done so already.

  10. Avataaar/Circle Created with python_avatars Joseph Glover says:

    There is no reason why this rule should exist.

  11. Avataaar/Circle Created with python_avatars Luke Matthews says:

    I’m still confused about this

    Can you complete a series of trades on one day and then wait until the cash is settled?

    Or can you only place one order, wait for the cash to settle, then place another order?

  12. Avataaar/Circle Created with python_avatars Scottymack says:

    CMEG!!!

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