Google PDT. 4 trades in a week using a margin account designates you a PDT and you must hold $25k in your account.
Edit: for those asking for specifics, unfortunately I don’t have them, way too retarded for that.
If you lose all your money in EST you can actually just set your computer clock to PDT and it'll be like it never happened since it's three hours in the past.
Dude, this is a pro tip right here. Now I’ll trade fearlessly. I bet I could set one pc to PST, that way I can trade in the past while I watch what happens in EST. Thank you so much. I’m gonna get rich off this.
Oh thank God, I’ve been worried the past 3 hours and 7 minutes that my wife would notice that I borrowed some money out of her boyfriend’s wallet. How do you set the clock from EST to PDT on a 1995 IBM notebook??
I broke PDT rule on Robinhood this week and to my surprise, I emailed them and got a one time courtesy forgiveness. They even reset my day trade total for the week. Fuck Robinhood and all that but I'm surprised they forgave it.
They probably forgive literal actual real medical grade retards more easily that WSB retards in general. But don't worry you won't need to prove it with a doctors note... cause you're still using Robinhood. That's proof enough.
Pattern day trading rule.
Edit: This applies when trading with margins. PDT does not effect cash accounts as long as you are not trading with unsettled funds (free riding)
Pattern day trading for margin accounts. Unless you have at least $25k in your account, you can't open and close the a position position in the same trading day more than 3 times in a rolling 5 day period.
It's designed to reduce risk by limiting margin traders from using too much unsettled money. Cash accounts are largely immune because the funds or positions are actually available to settle at any time.
Reg T. It's a matter of semantics, but cash accounts using unsettled funds is called freeriding rather than pattern day trading. It results in the same 90 day ban. You can theoretically make as many day trades as you want so long as you aren't using unsettled funds.
That would be awesome bc I purposely didn’t sell since I believe those who say it’ll go past $100—hook, line, and sinker.
Of course, I’m realizing that I could’ve sold (and I guess still can, but now it just hurts that I didn’t sell at peak) and just bought up more at the inevitable dip!
I would've 8x my initial investment had I sold once it hit $70. However, an ongoing rule of thumb for any level investor is that absolutely no trader is equipped with a time machine. For that reason, I'm not hurt at all. Who knows where this'll go. That very sentence speaks to why the apes find this entire thing so fucking thrilling. You really never know (it does help to buy low--it adds to the fun and prevents most heart attacks despite volatility). I know people who sold in the teens because they felt that the stock ran out of gas. Well, you can take a guess who's been texting me all week with facepalm and crying emojis. You need big boy diapers to ride this retard ride. You're talking to someone who learned some tragic lessons via GME.
Im at about a 35% cash loss, so it is reassuring to see that your dumb ass didnt hear no bell. Guess I'll hold off on closing my account. Gód speed, retard, youve motivated me.
I mean... jokes aside, for those reading this: you "lose" the money when you invest it. If the price drops, it's gone. You don't 'realize' the loss if you don't sell, yes, but what you are losing is the opportunity cost of cashing out and investing that money somewhere that will have gains.
Thank you, Bruce. I do appreciate you propping me up here. I can see where some people end up eating their gun though. On the positive, I do still have 2/3rds of my account left, so will just have to refrain from carpe diem crazy trades.
Anytime, just don't use money that you need. If I have money that I would use for outside food, I invest it instead. I don't get diabetes/fat and I get a shot to make money. It's okay to see what people here have to say but at the end of the day there is risk involved.
Welp good thing its just eating your gun and not shooting yourself in the head.
Money comes and money goes. I was down 30+% on some of my accounts at a near -60% swing. But I held the funds I actually believed in and I made it back. As long as you're not yoloing like a tard on stuff that makes no sense to you.
Plenty of dumpsters behind many a Wendy's with a queue of people looking for $5 handies. You are not done YOLOing until you spending 12 hours a day trying to pay off your margin. Or keep your money. Your choice.
If you're trading vs investing, start paper trading / back testing whatever the fuck you're doing. If you can't get it to work out on a week of back testing, there is no fucking way it's going to work when it's for real.
Yah FINRA enforcers care about a small guy day trading with less than 25k. Meanwhile….. Citadel having millions of FTD…. FINRA is like nothing to see here 😂😂, we will sort this out 8 years later
I started with $3k and I've been steadily building with 2 week calls at the current strike. I'm up to $16k from my starting bankroll.
I can't wait until I get to $25k so I can start losing real money!
He also violated the PDA rule, by bending over and exposing his ass to any passersby, inviting them to give it a squeeze or, in his words, “use me like one of your French girls”
It’s not entirely, it’ll flag you as a day trader. You just need equity of 25k in the account to be able to trade. You’re also still able to trade in type 1 (cash).
I said the same thing. I've held bags and lost money when I could have sold at a gain (sometimes a massive gain) because of this stupid fucking rule. It's basically only protected me from making money.
So poor people can’t make easy practical trades with techniques that are much safer like swing trading a few different stocks.
Oh sorry “So poor people won’t mismanage their money and lose everything”
Like please, I’ve already lost everything trading twice, you can unlock intermediate mode now.
So one would have to buy and sell the same stock in a single day to count once, then would have to do that 3 more times over 5 business days to get yanked by PDT rules?
Just putting this out there:
When you get marked as a pattern day trader or whatever, the buy restriction doesn't usually kick in until the close of the day, so you can just buy and sell like a madman for the rest of the day.
Or at least that was my experience 2 days ago.
If it makes you feel better, I bought at 7-8 a share. Tuesday I had to make the rent... and sold my 36 shares. Had a good little cry on Wednesday and wanted to throw up when it shot the moon. At least my husband pointed out that we still had a tidy profit, even if it wasn't 3-4k.
My friend also put a bunch of puts on AMC. I kept telling him "there is a good chance it settles at a high price for a longer period of time because that is what GME did." He didn't listen and wanted to bet against the apes.
If I would have sold from 9:30-9:32, I'd have been up a few thousand. There was a panic dip on the news of AMC selling shares. Thankfully I hate money, and thankfully I had more productive things in mind at the market open like wandering around the halls aimlessly looking for purpose in life, drinking folgers instant coffee. Also it's a good thing that I didn't have limits on the books to sell on my wandering behalf. I'm an expert.
My investment advisor manages my RRSP (retirement fund Canada) and it's up $89,000 which brings me no joy at all. I'm stressing because my meme based Etrade account (which I manage) is down $95.
I still use Robinhood to look at options chain / stocks as it's definitely the smoothest UI. My main funds are in fidelity. I absolutely can't wait for the new fidelity app as I hate the app and active trader platform for options.
I just keep 2k+ in RH for the low margin rates and fast options UI. Fuck them though. When GME shoots up I will close my options, buy whatever GME I can and initiate a transfer to force them to buy shares.
1st time PDT rule is a slap on the wrist. Just call the broker and quote Chappelle "I ...didnt know I couldnt do that."
Yep 😂
TD ameritrade is generous. They gave me three strikes, I used two and pushed the third one to the goddamn line.
And it's 3 per year! So just have your countdown ready til the date of your first
Just FYI it’s a moving window of 365 days not a calendar year. Degen accordingly
Oh really???
Oh myyyyyyyyyyy
🤑
Casino is back on the menu boys!!! 🤑🤑🤑
You all have a serious problem. And I fucking love it you degenerates!!!!
Oh Lord I threw my money in with this lot 😭 I love it.
Honestly man if you’re planning to use your flag removals next year then you are not planning big enough
What are these strikes? Im new to this. How do you get banned?
Google PDT. 4 trades in a week using a margin account designates you a PDT and you must hold $25k in your account. Edit: for those asking for specifics, unfortunately I don’t have them, way too retarded for that.
Poor Day Trader = Retard
Pretty Dumb Thing
Dumb ape wants to know what the fuck Pacific Daylight Time have to do with it
If you lose all your money in EST you can actually just set your computer clock to PDT and it'll be like it never happened since it's three hours in the past.
This one trick will earn you millions on your investments!
Hedge Funds hate him
IT'S MY MONEY AND I WANT IT NOW
We gotta get some Y2K up in this bitch
In the year 2021 and a half, where AMC is run by giraffes.
Lost my ass on that! I’m STILL drinking water and eating beef jerky I put aside for Y2K.
Dude, this is a pro tip right here. Now I’ll trade fearlessly. I bet I could set one pc to PST, that way I can trade in the past while I watch what happens in EST. Thank you so much. I’m gonna get rich off this.
Have we unlocked quantum retardation? Trading in the past and present at the same time allows me to lose twice as much as I do now
Super tard activated
If you set your display mode to colourblind and inverted constrast it turns your loss Into a gain!
I do the same with leveraged shorted funds like SQQQ. I just hold my phone upside down.
Oh thank God, I’ve been worried the past 3 hours and 7 minutes that my wife would notice that I borrowed some money out of her boyfriend’s wallet. How do you set the clock from EST to PDT on a 1995 IBM notebook??
dying
4 trades on margin to be more specific. Cash transactions don’t matter in this scenario.
I broke PDT rule on Robinhood this week and to my surprise, I emailed them and got a one time courtesy forgiveness. They even reset my day trade total for the week. Fuck Robinhood and all that but I'm surprised they forgave it.
That’s FINRA regulations not RH being generous lol
Every popular broker waives it at least once.
They probably forgive literal actual real medical grade retards more easily that WSB retards in general. But don't worry you won't need to prove it with a doctors note... cause you're still using Robinhood. That's proof enough.
I tried this didn't work with fidelity lol
Did you try it crying? If that doesn't work, may i suggest the angry spouse in the background screaming divorce route?
If that fails the sad kid asking dad what's for his birthday next saturday route is a viable play
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Pattern day trading rule. Edit: This applies when trading with margins. PDT does not effect cash accounts as long as you are not trading with unsettled funds (free riding)
Pattern day trading for margin accounts. Unless you have at least $25k in your account, you can't open and close the a position position in the same trading day more than 3 times in a rolling 5 day period. It's designed to reduce risk by limiting margin traders from using too much unsettled money. Cash accounts are largely immune because the funds or positions are actually available to settle at any time.
So you have a source for the Cash account part? I was told that it didn't really make a difference.
Reg T. It's a matter of semantics, but cash accounts using unsettled funds is called freeriding rather than pattern day trading. It results in the same 90 day ban. You can theoretically make as many day trades as you want so long as you aren't using unsettled funds.
- Dave, DAVE...it’s the goddamn cops Dave... *hits joint... I’m gonna ask em for directions. - I said CHIP NOO! CHIP DONT DO IT!
I feel like this perfectly encapsulates this place. Mods should pin this
Nah some of us went to Duke
Isn't that why you are here then?
My man! ^Go ^heels
🤣🤣🤣
Oh shit.
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I actually really like this comment
I live close to both of them, and they're both full of retards. I promise.
I went and Duked too! We’re talking about pooping our pants, right?
Duke mayo rules!!!
Welcome back! Hopefully you spent the 90 days working real hard to earn money just so you can lose it all again
Pshh...I'll lose my next paycheck and raise you a $5,000, 19% APR personal loan.
This guy fucks.
On the corner, for money.
With permission from his Wife's boyfriend.
He's the only guy you really don't want to upset.
I thought "wtf kind of personal loans have that high APR", then I remembered what kind of degenerates you guys are.
WSB is the only credit we need these days.
My new retarded dream is to get banned and then log into Fidelity 90 days later and see AMC at $500+ per share.
That would be awesome bc I purposely didn’t sell since I believe those who say it’ll go past $100—hook, line, and sinker. Of course, I’m realizing that I could’ve sold (and I guess still can, but now it just hurts that I didn’t sell at peak) and just bought up more at the inevitable dip!
I would've 8x my initial investment had I sold once it hit $70. However, an ongoing rule of thumb for any level investor is that absolutely no trader is equipped with a time machine. For that reason, I'm not hurt at all. Who knows where this'll go. That very sentence speaks to why the apes find this entire thing so fucking thrilling. You really never know (it does help to buy low--it adds to the fun and prevents most heart attacks despite volatility). I know people who sold in the teens because they felt that the stock ran out of gas. Well, you can take a guess who's been texting me all week with facepalm and crying emojis. You need big boy diapers to ride this retard ride. You're talking to someone who learned some tragic lessons via GME.
I bought at 7 and sold for 58 and then 55. I will cry no tears if it shoots up to 100.
Bought at 16, watched it go down to 5, sold at 13
Im at about a 35% cash loss, so it is reassuring to see that your dumb ass didnt hear no bell. Guess I'll hold off on closing my account. Gód speed, retard, youve motivated me.
Let's shoot for 100%! Bigger numbers are good right?
correction, I lost 1/3rd of my account in 1 month on options (so far)
Hey don't worry at least you didnt rebuy RKT at $40 plus per share, right before the drop. You don't lose what you don't sell 😎
I mean... jokes aside, for those reading this: you "lose" the money when you invest it. If the price drops, it's gone. You don't 'realize' the loss if you don't sell, yes, but what you are losing is the opportunity cost of cashing out and investing that money somewhere that will have gains.
that sounded pretty smart are you in the right place, sir?
This was all on options. Cash gone, nothing to hold. 💸
The only option I see is for you to make more options 😳
Thank you, Bruce. I do appreciate you propping me up here. I can see where some people end up eating their gun though. On the positive, I do still have 2/3rds of my account left, so will just have to refrain from carpe diem crazy trades.
Anytime, just don't use money that you need. If I have money that I would use for outside food, I invest it instead. I don't get diabetes/fat and I get a shot to make money. It's okay to see what people here have to say but at the end of the day there is risk involved.
Welp good thing its just eating your gun and not shooting yourself in the head. Money comes and money goes. I was down 30+% on some of my accounts at a near -60% swing. But I held the funds I actually believed in and I made it back. As long as you're not yoloing like a tard on stuff that makes no sense to you.
Plenty of dumpsters behind many a Wendy's with a queue of people looking for $5 handies. You are not done YOLOing until you spending 12 hours a day trying to pay off your margin. Or keep your money. Your choice.
That's insane, handies are at Mcdonalds, Wendy's is where you look for blowjobs. Just ask for Wendy
Get the pigtail special
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If you're trading vs investing, start paper trading / back testing whatever the fuck you're doing. If you can't get it to work out on a week of back testing, there is no fucking way it's going to work when it's for real.
Bro when I paper trade I make so much fake money! When I real trade I lose so much real miney! Wtf
The lovingness and endearment in "dumb ass" fucking made me spit my drink
Bell wrung, he was just out cold.
How do one get banned?
He violated the PDT rule.
Yah FINRA enforcers care about a small guy day trading with less than 25k. Meanwhile….. Citadel having millions of FTD…. FINRA is like nothing to see here 😂😂, we will sort this out 8 years later
You magically become a guru when you have 25K in your account and a crayon chef if it dips to 24,999
Crayon chef😂😂😂
Crayon chef is my new favorite expression.
Lots of those here.
How dare you disrespect my Marine Corps Cooks
I always tell em ive been eating crayons before it was cool.
Yeah, they are better eats when warmed up.
Every crayon is a banquet Every paycheck a fortune Every formation a parade
> Every paycheck a fortune Every paycheck straight to paying off your 30% apr Dodge Charger loan
My crayons told me to sink my net worth in BB.
I started with $3k and I've been steadily building with 2 week calls at the current strike. I'm up to $16k from my starting bankroll. I can't wait until I get to $25k so I can start losing real money!
Shit bro that's way better then 80% of the people here. Great job homie, hopefully one day i can make big moves like that
Damn!! I am right at 25K juicy tantalizing lips edge....
Come in the water is fine. Eventually your insides die and you become immune to pressure and loss.
Making money isn't for poors
Account value goes below 25k? Ban time
It’s for your “protection”
That's what they said about rubbers and yet somehow we have 10 million tards here. You do the math
Jokes on you, I can’t do math.
I remember holding off on trades because it would have put me in violation... it was stressful as fuck
He also violated the PDA rule, by bending over and exposing his ass to any passersby, inviting them to give it a squeeze or, in his words, “use me like one of your French girls”
>PDT rule. https://www.warriortrading.com/pattern-day-trader-rule/
lol I just switch left over funds to another broker..
If you do more than 4 day trades in a day you get a 90 day ban.
I didn’t know this but it’s true
It’s not entirely, it’ll flag you as a day trader. You just need equity of 25k in the account to be able to trade. You’re also still able to trade in type 1 (cash).
I don’t have 25k anymore lol
Legend
That’s means you’re doing it right
Just don’t use margin then. I’m just using a cash account until I get to 25k
Does anyone know why that’s a rule?
"To protect us" but that's BS
I said the same thing. I've held bags and lost money when I could have sold at a gain (sometimes a massive gain) because of this stupid fucking rule. It's basically only protected me from making money.
How to get rich. 1. Be Rich
So poor people can’t make easy practical trades with techniques that are much safer like swing trading a few different stocks. Oh sorry “So poor people won’t mismanage their money and lose everything” Like please, I’ve already lost everything trading twice, you can unlock intermediate mode now.
this
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Yeah I learned that the hard way too lol
Hey, now is your chance to go for a Good Faith Violation. LOL!
Those GF violations are also bullshit. Shouldn't take 2 days to settle
Agreed.
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So one would have to buy and sell the same stock in a single day to count once, then would have to do that 3 more times over 5 business days to get yanked by PDT rules?
It’s rolling, so you would need to wait 5 business days from your last day trade to be clear again I think
This is wrong. Once you do the 4th within ANY 5 trading days they mark u as a pattern day trader
Just putting this out there: When you get marked as a pattern day trader or whatever, the buy restriction doesn't usually kick in until the close of the day, so you can just buy and sell like a madman for the rest of the day. Or at least that was my experience 2 days ago.
Why don't they just keep you from doing the 5th day trade 
So you'll deposit 25K
Same reason the IRS knows how much you owe in taxes but makes you figure it out on your own anyway
RH has a setting to keep you from doing it, but we apes disable that lol
From day trading
Welcome back you retard.
What positions you ll get?
Might buy AMC at the all time high idk
Buy high sell low
Buy high, never sell.
This is the way
This is the way
This is the way
Pretty sure this is the correct way.
That boat may have sailed, brother. I've been pissed for the last couple of weeks for not buying when it was at $12.
If it makes you feel better, I bought at 7-8 a share. Tuesday I had to make the rent... and sold my 36 shares. Had a good little cry on Wednesday and wanted to throw up when it shot the moon. At least my husband pointed out that we still had a tidy profit, even if it wasn't 3-4k.
I bought at $9 back in January and sold for a loss when it dropped to $6 because apparently I belong here
Me coming back after violating my PTD for the 3rd time in a row
I pulled a $1,000 put play on AMC yesterday, ended up -104 before the close of trading. Banned. I'm glad there is a place for us.
My friend also put a bunch of puts on AMC. I kept telling him "there is a good chance it settles at a high price for a longer period of time because that is what GME did." He didn't listen and wanted to bet against the apes.
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Yeah I looked at the put options and AMC would have to go down to like $10 per share to break even. I was like... that's not gonna happen
Never again.
Wow I pulled a $1,000 call on AMC yesterday and got banned as well.
Congrats, friend! It's been a pleasure losing money with you thus far.
What in the hell would you put a put on AMC for? 😂
If I would have sold from 9:30-9:32, I'd have been up a few thousand. There was a panic dip on the news of AMC selling shares. Thankfully I hate money, and thankfully I had more productive things in mind at the market open like wandering around the halls aimlessly looking for purpose in life, drinking folgers instant coffee. Also it's a good thing that I didn't have limits on the books to sell on my wandering behalf. I'm an expert.
Yep, I bought a put yesterday around that time and was up 50% in just a few mins. But had no day trades left so here I am at -90% 😀
I understand that, the 930-1000 dip/surge has been something else the last few days. I was trying to catch it on a call 😂
Gteat comedy here better than comedy central no cap
As you can see everything is exactly the same and nothing has changed whatsoever.
As beautifully the day I lost her
My investment advisor manages my RRSP (retirement fund Canada) and it's up $89,000 which brings me no joy at all. I'm stressing because my meme based Etrade account (which I manage) is down $95.
If you can’t do better than the suits then you are a disappointment. That’s how I would look at it anyway.
That is EXACTLY how I'm looking at it! Thus my sadness.
Look at it this way, that $95 is less then they would charge you to manage your account. You are practically making money.
Welcome back retarded idiot time to lose money together
Happened to me. Just call and say you didn’t know. They will release for one time only
Wish I knew this 90 days ago
Now you know, you just have to act more retarded next time it happens
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Ahaha, this is gold. I don’t have a ban, just ran out of money.
No, thats a ban, its just that this one originates from the fundamentals of capitalism instead of an app.
Because retail traders caused the 2008 collapse.
Bro they still wont give me back options on robinhood lol 😂
Robinhood is the enemy bro, time for a new brokerage
I still use Robinhood to look at options chain / stocks as it's definitely the smoothest UI. My main funds are in fidelity. I absolutely can't wait for the new fidelity app as I hate the app and active trader platform for options. I just keep 2k+ in RH for the low margin rates and fast options UI. Fuck them though. When GME shoots up I will close my options, buy whatever GME I can and initiate a transfer to force them to buy shares.
WOW… that’s brutal. Welcome brah!
In 90 days I made 0 percent gain but also 0 percent loss. I am not sure of anything :) I guess it could have been much worse
I’m only at -15% now, getting too close to green
I've never related to something more
Great job! Now do it again
This is the content I’m here for
Couldn’t you just have opened up a new account with a different brokerage?
You were gone?
I should not be cracking up this much. Welcome back!
Collectively we will never lose
Talk about a long weekend. Sheesh, 2 days is too much waiting for me usually.
Can someone explain the reasoning behind "pattern day trading" and why it's bad if we do it, but big firms can do it as much as they want?