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CYTP IS A HOT PICK! READ ON!
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[QUOTE]Originally posted by rbgrahamii: [QB] [QUOTE]Originally posted by machtabow2: [b]Remember with a margin account you must maintain $25,000 or they will require that you meet that minimum account value (if you are recognized as a pattern day trader) which by SEC rules is that you make 3 or more trades within a four trading day period. mach [/b][/QUOTE] Your heart's in the right place, but your facts are a bit off. Different brokers have different margin requirements. Usually, it's $2000.00. That is to say, you can open a cash account for any amount ($500, $1000, etc), but if you want to buy on margin, usually $2000 or 2500 is the min. Playing with penny stocks, because of their volatility, may, on occasion, require more margin. Day Trading rules, however, are most clearly defined. If you are designated as a Day-Trader, you must maintain a $25K minimum cash account. But, Day-Trading is defined as CONSISTENTLY buying and selling the same stocks, at least four different stocks, within the same day. Stops don't count. If you buy four stocks, put stops on them and are stopped out, you are not day trading. Hope this helps RB [/QB][/QUOTE]
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