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Strategies & Market Trends : DAYTRADING Fundamentals
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To: TheStockStalker who wrote (13324)7/8/2001 1:35:44 PM
From: KymarFye  Read Replies (1) of 18137
 
Your descriptions both of PDT rules and of brokerage personnel correspond entirely with my own understanding and experiences. The dire situation you describe taking place upon exceeding the daily limit is something else though. You write:

Where the accumulation of the daily totals does come into effect is if they go over the 200K (4x) an any one point during the day. They will then get a day trading call for a whopping 50% of the accumulated daily totals for that day and probably get wiped out.

I think that any software and/or brokerage worth using will reject any trade in danger of putting a trader over the limit. Mine does. Of course, problems could still occur if open trades already near the limit suddenly blew up in your face (extreme example: short the world and the Fed surprises). I still wonder whether you'd get the tripwire total destruction effect you describe. Are you just funnin' us? Rather than getting "wiped out," wouldn't the worst that would happen to a trader be forced closure of positions (if necessary) and suspension of trading activity until everything's sorted out - until, for instance, all trades are cleared, if not earlier?

BTW, seems like it's been a while since you last posted. Howyadoin?
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