Momentum Daytrading - Tricks of the Trade Message Board

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Strategies & Market Trends : Momentum Daytrading - Tricks of the Trade

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To: Dan Duchardt who wrote (2087)	2/14/2000 1:23:00 AM
From: Allan C.	Read Replies (2) of 2120

In regards to daytrading in a cash account, I feel any rule which can't be explained in a brief paragraph and interpreted the same way by all who read it is too ambiguous and should not exist. We have a short novel written in the last group of posts by intelligent people who are trying to figure it out. Even the brokers can't agree on an interpretation. It is a very serious rule which effects the way traders trade, especially considering the severe penalty imposed if you are found in violation. The SEC should issue an interpretation which should be followed by all. It almost seems like it is one of those matters that is intentionally ignored, maybe because it is too hot of an issue. I do have a question, if you have your account restricted for 90 days, can you sell the positions you have? Say I accidentally violated rule and have a lot of short term trades going, will I be allowed to sell or am I stuck with them?

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