You need a $25,000. balance and cushion to make unlimited day trades all day. When you start with a small amount lets say $2,000. You really have to be selective because of the restrictions. I think it's best that one use a cash account this way there is no way to get restricted
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When my account was around 2k about a month or so ago you had posted something about a cash account. It was the second time in a week that had been recommended so I made the switch. It's a great feeling knowing you can always exit a trade you enter.
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Yes you NEVER want to enter a trade that you can't instantly get out of FAST if needed because it now looks terrible or it's soaring and you want to cash in. Newbie's mistake when they make a 4th day trade in margin account and hold so not to get slapped PDT
This is truth, been stung too many times- I won’t go into a trade now I can’t get out of
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I tried to sell my first trade at 8pm and didnt have the sell setting to Day+ ext. I panicked in the AM when it didnt sell as it defaulted to Market. I kept gains and reset for immediate sell. Lesson learned.