The legal definition of a pattern day trader is one who executes four or more day trades in five consecutive business days.
a pattern day trader (pdt) is a trader who executes four or more day trades within five business days using the same account.
a pattern day trader is one who executes four or more day trades within five rolling business days, has a margin value of less than 25,000, and the number of day trades make up more than 6 of their total account trade activity.
Finra (financial industry regulatory authority) has been very strict when it comes to something known as the pattern day trader rule, which is defined in a finra rule, as defined by having four or more round-trip day trades within five successive business days.
If you place your fourth day trade in the 5 day window, your account will be marked for pattern day trading for 90 calendar days. This means you wont be able to place any day trades for 90 days unless you bring your portfolio value (minus any cryptocurrency positions) above 25,000.
if you execute four or more round trips within five business days, you will be flagged as a pattern day trader. Heres where you might be dinged if youre flagged as a pattern day trader and you have less than 25,000 in your account, you could be prohibited from placing a day trade for 90 days.
Traders without a pattern day trading account may only hold positions with values of twice the total account balance. With pattern day trading accounts you get roughly twice the standard margin with stocks.
account holders with less than 25,000 in capital labeled as pattern day traders can face a margin call to meet the minimum balance requirement which must be met in five days. If they fail to do so, their trading power is frozen for 90 days or until the margin call is met.
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