If I "buy to cover" and "buy" the same stock on the same day, is it considered a day trade? I know a buy/sell of the same stock is a day trade, but I've never heard much on the other side (short/cover)...
Posted by SomeGuy on :
Any ideas on this? It seems like a buy to cover on the dip followed by a buy for the bounce would be seen as two buys and not a (buy/sell)... then again, I am new to this.
Posted by Machiavelli on :
If you don't know the answer to your own question you shouldn't be daytrading.. perhaps you should swing or position trade.. below are suggestions for both trading styles (on a sidenote ask your broker):
A Beginner's Guide to Day Trading Online by Toni Turner www.toniturner.com
A Beginner's Guide to Short-Term Trading by Toni Turner www.toniturner.com Posted by SomeGuy on :
I'm not able to day trade (low funds... plus I'd probably lose it more quickly ) , but I want to be careful and not break the rule.
Posted by Machiavelli on :
Swing and/or Position trade... there is no law saying that to trade you must Daytrade.. in fact i would advise against it... anyways for Swing/Position trading read this:
A Beginner's Guide to Short-Term Trading by Toni Turner www.toniturner.com Posted by Hannibull on :
I have another question on daytrading. I have restricted PAIV shares, and that combined with my other cash exceeds $25,000. Does that make me eligible for daytrading or does the rule state that you should have $25,000 in cash alone.
![[Frown]](frown.gif)
) , but I want to be careful and not break the rule.