Here's something a new trader should know.
The PDT rule was specially created and targeted to stop new traders from participating from drinking in the well of all that money that the Pro's and industry make.
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The Pattern Day Trader rule is easy to work around, as discussed before. If you are planning on performing several in a week, stick to 10 percent cash trades, and you'll never run out of trades. You can make as many cash day traded as you want until the cash settles in 48hrs
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It’s garbage. It severely hinders you. It’s like trying to learn basketball but only being able to take one shot a day. At the same time, it does help the economy stay strong because it creates more long term investors. That props up the market. So, it’s a double edged sword.
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That doesn't exist in Europe (at least from what I know). It always surprised me the so many restrictive rules in a country considered as economically liberal.
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I should start listing all the ways the big boys try to hold us down. It’s crazy. Thanks Brian Jones!!
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