irby,
If, for instance, the house excess in my account is $10,000, my allowed day trading is twice that, $20,000. My understanding of this is that I may buy or short a maximun $10,000 worth of a stock and then sell or cover that same stock in the day and, assumimg no large losses, I can make similar transactions all day long, using the same $20,000 day trading balance. Is that correct? This a very basic thing, I realize, but I have been a position trader, and am moving toward the idea of day trades.
Bob |
