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Strategies & Market Trends : DAYTRADING Fundamentals
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To: Leland Charon who wrote (6885)2/8/2000 12:22:00 PM
From: Dan Duchardt  Read Replies (1) of 18137
 
Leland,

I do not believe that these rules limit the amount one can "daytrade" and in any given day.

You are correct if you are talking about what you can do in a daytrading (margin) account. The issue here is what can be done in a cash account, and that seems to be illusive. Some brokers impose the "no free-riding" restriction, while others apparently do not.

My belief is that Reg T does not prohibit daytrading in a cash account, perhaps because when it was written nobody even thought about it. I assume there is some exchange rule that brokers are following when they prohibit cash account daytrading. I haven't found it yet.

Dan
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