question regarding day trading in scottrade ?
I have opened a cash acct in scottrade for trading with under 25k. I have done like 4 or more times trading in a week. However, i am only using the settled funds for trading and never violate the regulation T rule. Is that count as a "pattern-day-trader."
As long as you are buying and selling with cash, it does not classify you as a pattern-day-trader. The pattern day trading restriction can only happen if you are trading in a margin account. It is hard to day trade with cash only, but if you have the settlement times down (sounds like you do), you have nothing to worry about. Good luck!!!
As long as you are buying and selling with cash, it does not classify you as a pattern-day-trader. The pattern day trading restriction can only happen if you are trading in a margin account. It is hard to day trade with cash only, but if you have the settlement times down (sounds like you do), you have nothing to worry about. Good luck!!!
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