How do I find my Day Trading Buying Power (DTBP) and Overnight Buying Power (OBP)?
How can I check the number of Day Trades in my account? How will myTrack and Penson know if my account is a Day Trading account? Will I be notified if my account is converted to a Day Trade account? How do I remove the Day Trading classification from my account? Miscellaneous Is this industry-wide? Will all brokers have to comply with these rules? But I heard from another brokerage firm that their Day Trading rules are less stringent. 1. What is the definition of a Day Trade? A day trade is the purchase and sale (or short sale and purchase) of the same security on the same day in a single account. 2. What is not a Day Trade? Liquidation of overnight positions (or purchase to cover a previous days short sale) of the same security the next day will no longer be considered a Day Trade. 3. What is a Pattern Day Trader? If you day trade 4 or more times in 5 business days within a single account, you are a Pattern Day Trader. Important: Each executed segment of a sweep order qualifies as a t
