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Strategies & Market Trends : DAYTRADING Fundamentals

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To: werefrog who wrote (17500)9/25/2005 10:39:30 AM
From: exdaytrader76  Read Replies (1) of 18137
 
If you could just convince the regulatory bodies to adopt your definition of "day trader" then we could do away with the $25K PDT requirement.
traderstatus.com

NASD Rule 2520 (and NYSE Rule 431). Day Trading Margin Requirements:

Day Trading

(i) The term “day trading” means the purchasing and selling or the selling and purchasing of the same security on the same day in a margin account except for:

a. a long security position held overnight and sold the next day prior to any new purchase of the same security, or
b. a short security position held overnight and purchased the next day prior to any new sale of the same security.
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