Webull policy update regarding Pattern Day Trading.Submitted by Present_School_8754 t3_11dskic in wallstreetbets
Joghobs t1_jab3g8n wrote
Reply to comment by LordPontificus in Webull policy update regarding Pattern Day Trading. by Present_School_8754
Jesus fuck. The gov is going the opposite direction we wanted them to on this
deliciousmonster t1_jabc7t9 wrote
Yeah, this a direct reaction to /r/wallstreetbets
Responsible_Sport575 t1_jacwcx8 wrote
BossHogOne t1_jacaxdc wrote
Going in the opposite direction? This has been around for years. I can’t believe WeBull was letting people remove the flag every 90 days. A one time exception is the industry standard.
logicallyillogical t1_jacvjbk wrote
No, it's actually better. If you scaled into a position, every buy and every sell is a trade. Now,
Example A:
09:30 Buy 250 ABC
09:31 Buy 250 ABC
13:00 Sell 500 ABC
The customer has executed one day trade.
This is actually much better. Still is bullshit, but this is clarifying part of the PDT rule.
BullyBumble t1_jad3n7j wrote
Your example was always just 1 daytrade
logicallyillogical t1_jadfdou wrote
Not with Etrade, that would have been 2 trades. I got suspended for 90 days because of that bullshit.
I moved to a cash account last year anyways and it's much better for day trades.
BullyBumble t1_jady62b wrote
Yeah that’s just not the rule tho.
Joghobs t1_jacx0do wrote
It's always been that way for me. At least on RH.
logicallyillogical t1_jaddrsq wrote
On etrade, that would have counted as 2 trades.
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