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Strategies & Market Trends : DAYTRADING Fundamentals
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To: Wayners who wrote (10030)9/2/2000 10:54:48 AM
From: shneed  Read Replies (2) of 18137
 
Wayne thanks a lot for your response. Maybe this is something new for the brokerage firm that I trade through, but this is how they view this rule: 1. Let's say at the beginning of the day you have buying power of $200k based on the settled funds in your account, 2. Let's say you are trading $50 stock in 1000 share lots, 3. According to my broker, once you have bought and sold the stock 4 times during the day, the fifth time will result in a margin call. I am not talking about accumulating 4000 shares and then buying another 1000, I am talking about about buying 1000 shares then selling it, then buying it back. So, in affect they are saying that if you have $200k buying power in your account you can only trade up to that amount during the day in total trades. Do you think that they wrong?

Thanks,
shneed
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