Yes I was slapped by SEC for doing more than the 3 day trades in a week rule. I already had a margin account with $150k cash. I was learning the ropes and wanted to sell out of a stock before the weekend and my sell order was only getting partially filled as the stock kept dropping. So I kept modifying my sell order as the pps was dropping. The next day they said you are a pattern day trader. And they switched me to being a day trader. Scottrade kept trying to sell me on how wounderful it was to be a day trader. I could buy & sell unlimited # times all day long but I could only use the cash that I made from the day before. And they gave me a big fat margin to go with it - 4 times the amount of cash I had I could use for trading. That is how people get into trouble.
Yes I was slapped by SEC for doing more than the 3 day
Scroll down for more posts ▼
Top 10 Most Recent News Articles
Top 5 Most Recently Viewed Articles
5 Things You Need to Know About Merchant Solutions for High-Risk Businesses
Introduction Operating a business in a high-risk industry presents unique challenges, particularly when it comes to payment processing. Financial institutions and payment gateways often categorize businesses as high-risk for reasons such as high chargeback potential, international sales, or complex regulatory requirements. For this reason, specialized solutions...
Continue Reading
Hyundai's Major Recall: Over 226,000 Vehicles Impacted by Camera Issues
Hyundai's Recent Vehicle Recall Hyundai Motor Company has announced a significant recall affecting over 226,000 vehicles across the United States. This action stems from concerns regarding the rear view camera, which has been found to potentially fail in displaying the camera image. The National Highway Traffic Safety Administration (NHTSA) released this information,...
Continue Reading
Exploring State-of-the-Art Engine Technology for Data Centers
Revolutionizing Power Solutions for Data Centers As the demand for data centers continues to surge, it's essential for these facilities to harness cutting-edge power solutions to ensure reliability and sustainability. Recent discussions have highlighted the pivotal role of advanced engine technology in meeting energy needs while minimizing environmental impacts. This...
Continue Reading
Shell's $3.5 Billion Buyback Program Unveiled Amid Strong Profits
Shell Plc Reports Strong Earnings Shell Plc (NYSE: SHEL) has recently revealed its financial performance, which showcased a blend of positive earnings yet slightly disappointing revenue figures. This outcome has led to a rise in their shares, as investors digest the results and the implications for the company moving forward. Performance Breakdown The adjusted earnings...
Continue Reading
Banijay Group's Weekly Share Transactions and Growth Insights
Banijay Group's Share Transactions Overview Banijay Group N.V. (894500G73K46H93RF180) is revealing its latest transactions involving company shares, showcasing the trading activities conducted within the recent week. These disclose the transactions made from December 8 to December 12, following the green light granted during the recent shareholder meeting. This...
Continue Reading