This podcast is episode is all about the PDT rule! See how to work around it and make the most out of your trades.
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By Stock Chat
where the coffee is hot and so is the chat
A pity they don't stick with the topic !!
Im not sure if the rule is set by trade station or if they have changed over the last two years but you cannot build into a position. Trade station counts opening trades even if its the same stock. Luckily the day I learned this lesson I only used two trades to build in.
You guys are great! These podcasts are so enjoyable and I'm picking up a lot of jewels. Watching in 2.1.19 My favorite infotainment. 🙂
Well done Stephen! Thanks Guys. "Alcohol an Tinder makes me a better trader." – Stephen Johnson Great episode! Too Funny TWO SHAY
That idea of scaling in and out of a trade is wrong. You can’t do that while under PDT. I just went through this with E*TRADE last week and lost 2 day trades for scaling in and then selling all out in 1 transaction.
You can scale out as many times as you want and it is still only 1 day trade but each “opening” transaction is an additional day trade. If you scale in with 4 buys of 1000 shares each and then close out selling all 4000 at once you will still be charged 4 day trades and violate PDT. If you buy 4000 in 1 transaction and scale OUT 1000 at a time in 4 transactions it is still only 1 day trade because their was only 1 opening transaction.
What happens if you buy a stock but sell half at one point in the day and then hold the othe half over night? Or you sell a stock in stages as it goes up to lock in profits? Under PDT is that classed as a single trade or is it seen as multiple trades?
2 mins in… what in the literal fuck am I listening to… LOLOL
The entry count as one operation of PDT but also the exit count as another operation?.. by the way, really nice podcast so helpful.
Haha i come every so often back to this one just to listen to PDT party song. Make more of them Steven.
Hello…new to your program and brand new to trading stocks….. trying to learn the terminology…which podcast should I start with… don't have a brokerage account.. nothing ….just found out Penny Stocks was a thing…where do I go from here.
Great podcast! Kept me entertained until the end!
Whoa, that intro was a trip. 10/10
OMG that was outrageous hahaha
I’m surprised you didn’t talk about using a cash account instead of a margin account to start
the song at the beginning made my day haha
Umm… You can't scale in and scale out and count that as one day trade. A day trade is based on opening transactions. One buy and three 1/3 size sells is one day trade. Three 1/3 size buys and three 1/3 sells is three day trades
Great podcast! I just switched my cash account to margin today so the extra info is appreciated 🙂
Great show and a great song haha! 😂👍
"You lack any and all genitalia" omg LOL!. Always educational and hilarious.
16.04 what did you cut out?
Minkia!!!! But the RAP part can not believe it……Stephen you sing like a jamaican emigrated to England ………
There is always something to learn from yours fun and contemporary debate….thanks
i just want to let people know, cash accounts are not restricted under PDT. I have a cash acct at Interactive Brokers and I have the option to take unlimited trades. just no shorting with cash accounts
if youre gonna make annoying intros at least make them same volume as the actual podcast…jesus lol …..youre lucky the podcasts are good hahah
Learned something new today. Etrade told me that what is considered "One Full Trade" is when you, for example, buy (once) and you can sell as many times as you want to get out of your position and that would count as 1 day trade. Ex. Buy 1000, sell 200 x4. Regardless of how its done, buying triggers the "day trade" cycle. So if in 1 day I buy into a position twice consecutively in 2 small chunks and then sell shares at 100 a piece for the rest of the day that would still count as 2 day trades. Its not the sell that triggers a day trade or what order you do it in, but that initial buy into the stock in the first place. Thats what was explained to me.
So awesome
youre the pride of the pride steve!
I think gheven should quit trading and begin singing more 😂😂
what is the song played at the end, I like it!
Jesus christ the singing was cringe!
Alcohol and trading doesn't mix!
Hanging em High!