Quote:
Originally posted by goBigtime
Marketmakers are evil. 
Whatever you do, don't daytrade.
|
I'm no stock expert, but starting last year sometime according to a new SEC rule you have to have a $25,000 equity account with your broker to daytrade. Daytrading is defined as making more than 5 trades on an identical position within a one week period. I.E. buying 1,000 shares of Intel on Monday, and selling it Friday - that's within a one week period and counts as one instance of the 5 trade limit without the equity account.
Don't quote me on it, but I'm pretty sure that's the basics of it.