Quote:
Originally Posted by AdultPornMasta
I have been watching Kodak and I am going to get in it for the long term. It could be a great day trading item if you can get the $25K into your stock account that will end up being required.
Check the five-year stats. Kodak will come back, whether it does so on its own or is bought out.
 |
I found a way to partially get around the PDT rule... this one guy told me this and it seems to work
"Yes, you can sell a purchase you made with unsettled funds 24 hours after you make the purchase without violating the rule. Just be sure it is more than 24 hours (don't be 1 minute early in your sell). The original funds used to make the purchase will settle at least one day prior to your sale settling, thus no violation of "free-riding". This is frowned upon, but not against the rules. I do it all the time without any penalty.
Yes, you get two strikes/warnings before the restriction (or before having to deposit the additional funds).
Good luck and you're welcome! "
ALSO
Having accounts at different brokerages is another way to help get around it
PS: There is also an offshore broker with terrible service that doesn't make you follow PDT but I can't remember who exactly. Whoever it is, they're very good usually but sometimes hit you with big fees for no real reason.