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Micro Penny Stocks, Penny Stocks $0.10 & Under
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TRIANGLE MULTI MEDIA (QBID) III
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[QUOTE]Originally posted by U4TSAF2: [QB] IF YOU BUY AND SELL 4 STOCKS IN 5-DAYS, YOUR HIT AS A PATTERN DAY TRADER. FOR INSTANCE: MONDAY: BUY IPIX SELL IPIX TUESDAY: BUY MSFT SELL MSFT WED: BUY QBID SELL QBID FRIDAY: BUY MSFT XXXXX YOUR X SALE IS GONNA DO YOU IN. IF YOU SELL MSFT ON MONDAY AND NOT ON FRIDAY, THAT DOESN'T COUNT TOWARDS YOUR TOTAL. NEXT WEEK ON MONDY DOESN'T START ANEW. WITHIN THE PAST 5-DAYS YOU BOUGHT AND SOLD ON WED AND FRIDAY SO MONDAY (NEXT WEEK) IS YOUR 3RD DAY TRADE. NO. 4 AND YOUR A PATTERN DAY TRADER. PATTERN DAY TRADERS HAVE TO MAINTAIN $25,000 IN CASH OR EQUITY. EQUITY IS A MARGINABLE STOCK. MARGIN STOCKS ARE STOCKS OVER $5.00. IF YOU HAVE 5 MILLION DOLLARS IN ACCOUNT EQUITY AND IT'S ALL PINK SHEET STOCKS, THAT DOESN'T COUNT. YES I KNOW THIS IS STUPID. FREETRADE WILL LIQUIDATE YOUR ACCOUNT, MEANING THEY WILL GO IN BEHIND YOUR BACK AND SELL YOUR STOCKS TO MAKE SURE YOU HAVE $25,000 IN THERE. OR YOU CAN'T BUY OR SELL ON MARGIN FOR 90-DAYS. IF YOU DO DEPOSIT THE $25,000 IN THERE, IT HAS TO SIT FOR 2-FULL DAYS AFTER DEPOSIT (3-DAYS TOTAL) BEFORE YOU CAN WITHDRAW THOSE FUNDS TO TRADE BEFORE YOUR PATTERN DAY TRADER STATUS IS REMOVED. THIS DOES NOT APPLY IF YOU GIVE A DAY BETWEEN BUY AND SELL. MON: BUY IPIX TUE: SELL IPIX AND BUY MSFT WED SELL MSFT AND BUY IPIX AS LONG AS THERE IS 1-DAY BETWEEN BUY AND SELL, THE RULE DOESNT' APPLY. MY ACCOUNT JUST GOT CROSS REFERENCED WITH ANOTHER ACCOUNT SO I JUST GOT THROUGH THAT PATTERN DAY TRADER CRAP. DOESN'T MATTER IF YOU USE MARGIN OR NOT. IF YOU HAVE A MARGIN ACCOUNT THE RULES APPLY. OilMan Member posted April 23, 2004 17:00 [/QB][/QUOTE]
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