Under PDT: Patter Day Trading Don't Do This | Episode 3
Pattern Day Trading or PDT can be super annoying, but you must follow this rule no matter what that is being discussed in the episode 3 Boiler Room Trading podcast
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Pattern Day Trading or PDT can be super annoying, but you must follow this rule no matter what that is being discussed in the episode 3 Boiler Room Trading podcast
Be The Next Guest On Our Podcast! Join Guest List Here https://bit.ly/38ZMF2E
In our podcast we encourage guests to share experiences with trading, investing, small business, big business, and anything that can help teach investors become more a familiar with the crazy world of money. - Boiler Room Trading
"Trading Tool Box"
Private Trading Chatroom | Join Here https://bit.ly/2wsEYAH
Get Over 35 Customer Scanners Emailed To You When You join Trade Ideas Through Our Unique Link. Email Us You're Confirmation Receipt: We Will Send You Our Scanners!!
Trade Ideas Scanners | Save 15% Coupon Code: BOILER15 https://bit.ly/2HtwiA5
Webull Brokerage | Better For Trading Off Phone Than Robinhood | Join Here https://bit.ly/3ame9kw
Boiler Room Trading Facebook Group | https://bit.ly/2ogXcBd
Boiler Room Trading Instagram | FUNNY TRADING MEMES| https://bit.ly/2Pf5jd4
Boiler Room Trading Chatroom | https://discord.gg/avPxTHt
Join Our Chatroom Here | https://discord.gg/avPxTHt
DISCLAIMER:
All videos or content posted on this channel regarding stocks, investing, stock trading, money, money, wealth, retirement, or any investment vehicle is entirely for educational purposes only, please do not take any of the information literally, and always speak to a professional/licensed investment specialist for any investment decisions.
God damn it Connor… I feel like you were singling me out in this video.
False TDA will unlock your account 3 times a year if you pass your 3 trades a week
That rule is the only thing stopping me from making more profit. I have a good strategy and I know entry exit but it restricts scaling in and scaling out. It affects multi leg option orders ect ect. I agree it's great for beginners to help them with discipline. But when you're at a point of good risk management and whatnot. But mentally when you're down to 1 day trade. I sike myself out into missing good trades or bigger profits
Remember it’s not 3 a week. It’s 3 per a rolling 5 day period
You don’t get 3 new trades on Monday for the week.
If you make a round trip on Monday it will be the next Tuesday b4 it comes back.
Also remember it’s 5 trading days so weekend and holidays don’t count as part of the 5 days
I believe the broker(TD) can wipe the PDT designation off your account 3 times during a 6 month period. So you can push it if you need to but check with the broker first.
According to a telephone conversation with TDAmeritrade, the PDT rule applies ONLY to Margin Accounts and NOT to CASH accounts. Re-iterating, they/he said that the PDT Rule does NOT apply to Cash Accounts. I have downloaded the PDF of the PDT Rule and this appears to me to be true. (I still need to go over the PDT Rule text with a fine-toothed comb.) Before I actually start trading, I will seek something in writing from TDAmeritrade that clarifies this explicitly. I also will seek an explanation in writing from the SEC.
In the meantime, you YouTube traders dance all around this question without ever addressing it. What say you?
I think Margin Acc under the PDT is good for swing trading, but day trading with cash acc seems a lot more reasonable to me.Also listening to the podcast would be convenient on Spotify 🙂
This was the my biggest issue when I first started trading. Sure, I had some decent winners but I lost more than I gained. Took me a long while to build that patience and discipline. You're the first channel I've seen actually cover this topic.
Is this just on margin or is it cash accounts too?
When do you think you can say that you actually CAN trade. Or is there no such thing as "can". I've been looking into trading for 2 years now. Finally started papertrading 4 weeks ago with an account size of 30.000$ and finished the month with 2960$ profit only beeing able to trade 3-4
days a week. Now does that mean i can trade? 😀 Or is it all just luck
Isn't the PDT rule only if your under a margin account??