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Strategies & Market Trends : DAYTRADING Fundamentals
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To: shneed who wrote (10043)9/2/2000 2:51:05 PM
From: Wayners  Read Replies (1) of 18137
 
Your broker is extending credit and they can probably get away with interpreting the rule like that if they want to, however their interpretation is not competitive with the vast majority of brokers out there. If they are not letting you trade the same money 60 times a day without any single position exceeding your daytrading buying power, essentially what they are saying is we aren't extening credit for daytrading and that daytrades are non-marginable at our firm. You can get the same treatment in a cash account.

I suggest you change brokers as soon as possible. I use direct access broker JPR Capital and use Realtick software. jprcapital.com. $10 a trade--cheapest direct entry broker out there although I think MB Trading just dropped their comissions as well. Also for Realtick software see taltrade.com
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