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Zepher

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Aug 12, 2007, 8:00:58 PM8/12/07
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Are there any exchange rules prohibiting multiple daily trades of the same
stock?


lubow

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Aug 12, 2007, 8:22:56 PM8/12/07
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> Are there any exchange rules prohibiting multiple daily trades of the same
> stock?

Nope. Trade them as many times as you please. Just make sure you have
sufficient assets in your account to be exempt from the Frequent Day Trader
rules. I think the minimum size is $28,000, but check with your broker.
--
Lubow
"Zepher" <something@net> wrote in message
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Zepher

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Aug 12, 2007, 9:58:41 PM8/12/07
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"lubow" <lu...@lubow-industries.com> wrote in message
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Thanks. I thought I'd once heard multiple trades on the same day was
verboten but couldn't find anything on-line today.
Been wanting to get around the T+3 delay without putting more funds in my
account. If the answers I get regarding margin trading fit my needs, I'll
enable that feature.


lubow

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Aug 12, 2007, 10:31:09 PM8/12/07
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Unless you have at least $28,000 (or whatever the current threshold amount
set by the SEC is) in your account, your account will be frozen and locked
if you are declared a frequent daytrader.

--
Lubow
"Zepher" <something@net> wrote in message

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uncle_vito

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Aug 13, 2007, 7:05:25 AM8/13/07
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Actually, if you are rated a frequent day trader, you are required to have a
minimum dollar amount in your account, that is all. I got tagged with that
several years ago. If you day trade, it is unavoidable, but the NASD has
the rules if you want to know.

Vito

"lubow" <lu...@lubow-industries.com> wrote in message
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uncle_vito

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Aug 13, 2007, 7:08:58 AM8/13/07
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You need a margin account to trade a stock several times in the same day.
Get that and those problems are gone. Just do not go 'on margin' where you
buy more stock that the cash you have. If you do you incur margin interest
and lots of other surprises.

If you are rated as a frequent day trader (there is an NASD term for this),
then there is a required minimum account value you must have. Meet that
number and then trading is 'no sweat'.

Vito


"Zepher" <something@net> wrote in message

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Charlie Perrin

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Aug 13, 2007, 9:57:25 AM8/13/07
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On Sun, 12 Aug 2007 20:00:58 -0400, "Zepher" wrote:

>Are there any exchange rules prohibiting multiple daily trades of the same
>stock?

Enough round trips (four in five trading days, if I understand the
rules right) and you become a "pattern day trader."

Pattern day traders must:
1) Have $25,000 in their account (minimum)
2) Have a margin account

See NASD Rule 2520 for all the gory details.

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