Still think TITNC3: Return of the Iceberg was peak

its 4.53%
Not sure where 7.5% came from

 

No...It takes 3 days to clear a trade..
So if stonk buy price is 250 and you buy 10 that's 2500....You sell at $350...That 3500 Is ok for a new buy but then you can't sell...BUT if you have ANOTHER $2500 sitting there you can buy the NEXT 10 @ $250 and Sell at $350..etc
So with $7500K cash you and buy/sell 10 shares bought @$250 3 days in a row and the first sale clears day 4 and you can start again...
People WERE doing this on margin..With 250 cash you could get 2500 in buying power. That was not working out well when everyone was locking in big 60% gains after dips...So the brokerages were LOSING tons of money AND unable to find shares...So they made the margin requirement 100%...
Cash is king for $GME

 

Hold til $10k? Is my math still working?

 

https://www.nasdaq.com/market-activity/stocks/t/dividend-history

 

If you already maxed out the Roth you can’t contribute to a traditional

$6k per year either or...

 

Hmm. I read it as basically buying one stock and selling that same stock later in the day. Then doing it again (although each day may be a different stock) for 4 days in a row will get you labeled as such. Then something about $25,000 on hand that I didn't really look into that much.

I got the warning after buying and selling NOK Thursday and buying and selling a partial share of Tesla on Friday.

As for margins, I don't grasp that yet so that's all way over my head. In this case it is simple buying and selling.

 

Not maxed. 2K as an opener for 2020...Not even this year...I'll be opening ANOTHER retirement account...This is getting tedious. At this rate when I retire I'm going to have SHITLOADS of money in all different accounts. WHO NEEDS THAT!

 

I thought this was Verizon stock we were talking about? Where did AT&T come from?

On that note I will be picking up Atnt stock soon lol

 

@TreeFortRichard mentioned VZ. I responded that T was a better price point and div yield. That's where it started. lol

 

First. BUY SELL BUY is always OK.
BUY SELL BUY SELL is a violation.
It takes 3 days for that first sell to settle. So the money isn't "really there" when you buy the second time...so you have to hold that second buy until the first sell gets through it's 3 day clearance.
When you have free cash in your account the 2nd buy is ALWAYS made with free cash before the proceeds of the first SELL.
SO you have BUY (With cash) sell (get cash waiting to clear) BUY (With free cash that was already there) SELL (created as 2nd sell that must now wait for settle)
So with 7500
DAY 1: Buy 10 @ $250. You have $5000 cash free and 10 shares. Sell 10 Shares at $350. You have $3500 in unsettled cash and $5000 in settled
DAY 2: Start with $5000 cash and $3500 unsettled. Buy 10 shares at $250. $2500 of Cash is used. Sell at $3500.
DAY 3: Start with $2500 Settled cash, $3500 on day 2 of settle $3500 on Day 1 of settle. Buy 10 shares at $250 for $2500..Sell At $350 for $3500
DAY 4: First sale on day 1 has now settled so start day with $3500 Settled free cash, $3500 on Day 1 of settle, $3500 on day 2 of settle. Buy 10 shares @$250 for $2500...sell for $3500
DAY 5. $1000 in settled cash left over. $3500 from day 2 settles so you have $4500 in settled cash. etc...
Yes I have more than $25K in total assets but that would not matter for this technique

 

I got a bad boy warning for an in out in out on a $GME call last week because I had so much $$ in $GME i had nothing free to cover the in out in out

 

Margin yolos are more my style

 

So, basically, if I bought, say, Tesla, then sold, then bought Tesla again, I'd be ok?

But not if I bought Tesla, sold Tesla, then bought and sold Tesla again? I would assume that also means Buying Tesla, then selling Tesla, then buying Ford is a no no?

Edit: I forgot to add that I would have used all of my funds for that share purchase, so I have no unsettled cash after buying Tesla. I assume that means purchasing after is a no no since I don't have any unsettled funds?

I'm also going to assume weekend days don't count toward that 3 days?

 

The best way to play that game is don't buy anything in one day that you can't hold and sell the next day.

Day trading rules are complex depending on how things are bought and sold. I've solved that problem by never making trades that I potentially need to execute in the same day until Thursday of that week.

Best option: Make sure your account closes above $25k every trading day and you won't need to worry about it.

 

Voodoo ranger is wicked shit

 

if you do not have 25k in your account you can only make three day trades in a span of five trading days. A day trade is the purchase and sale of a stock in the same day. To avoid you either need 25k, or not buy and sell on the same day.

also if you get hit with the PDT label your account is restricted for 90 days.

 

That makes it much simpler than I was thinking it was.

I assume this does not apply to crypto?

 

Well, I definitely don't have $25k in said account so that doesn't apply. Basically, avoid buying and selling in one day except in rare circumstances, making sure it isn't more than 3x in 5 trading days.

 

No Pattern Day Trading Rule
The pattern day trader rule is a law that prohibits individuals with US brokers with less than $25,000 from making more than three day trades per week (A day trade is defined as buying or selling a stock in the same day).

However, there is no pattern day trading rule in cryptocurrencies. You can open a $200 account if you wanted to with a cryptocurrency exchange and buy and sell as many cryptocurrencies as you want every day. This means that if you do have a strategy with an edge trading cryptocurrencies, you have the potential to grow a small account much faster than trading a small stock account with a US broker.


Do your own research though. I don't believe that PTD rules apply to crypto

 

Exactly. Don't buy a stonk on day 1 and panic sell if the stock goes down in the same day. On day two if you're feeling shitty, you can sell then.