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lehayes... I read of the $25k day trading account minimums for "pattern day traders" that NYSE and NASD require. It looks like the SEC approved this stipulation. My question at this point is in addition to the $25k minimum, how much more capital will I need in my account to get into day trading? I know this would be a question for individuals specific to their situation. If I decided I had risk capital of $100k and funded my day trade account accordingly, that means in effect I actually have $75k of capital to work with. Is that the way to look at it?
Another question....if you start out swing trading, which I probably will do, and gradually work into day trading....at what point are you considered a "pattern day trader" and the $25k minimum balance comes into play?
Also, thx for the links...will check them out today.
Thanks d8 and gijoe....I probably was thinking a little too rigidly about styles....need to flex out a bit. Good advice!
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