The Pattern Day Trader rule is a big nuisance for day traders with small accounts. If you have under $25,000 in a margin trading account, you are subject to PDT which means you cannot take more than three day trades in a five-day period. If you can't get over $25,000, you probably want to find… Continue reading How to Get Around the PDT Rule for Day Traders
Tag: cash account
How to Change Your Robinhood Margin Account to a Cash Account
If you are using Robinhood as your trading platform, you have a margin account by default. Robinhood refers to this as an "instant settlement" account. For a little more in-depth information about the differences between margin and cash accounts, check out this post that explains the difference. Open up your Robinhood app and tap the… Continue reading How to Change Your Robinhood Margin Account to a Cash Account
Tips for the Beginning Trader: Account Types
For me, learning how to trade stocks was a bumpy road. While I wouldn't say it's all smooth now, I've come a long way and looking back, I wonder why it was so hard to find basic information about trading in the beginning. Most of what I know now came from trial and error. A… Continue reading Tips for the Beginning Trader: Account Types
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