if I do 3 day trades can I do another buy to have my money growing? you know how if you do 3 day trades you have to wait for the 5 business day cycle to start over. I want to do 3 day trades and then buy again to let it grow something for the next cycle to start trading? thank you for your time
Im not sure we understand the question here. Are you asking if you can open an new position after closing 3 round trips? Anybody using Robinhood here?
thank you for the answer back, what i am asking is in robinhood you are allowed to do 3 day trades in 5 business days or else you get marked a day trader and then you can't do trades until you have 25,000 in your account. so I want to do my 3 day trades and be able to buy one more stock so if I waste my day trades in the first day it will be in a stock growing until I can pull out and trade after the 5th business day. so I don't want to get marked by doing that last transaction. thanks again
I don't think you can open a new position after you get flagged on your 3rd day trade. You might think of opening your growth option before the 3rd day trade, e.g. right before you close the 3rd. But I think you won't be able to close the growth option the same day.
You can open the 4th position "buy", however you will have to hold it until one"the first trade" settles. That's a FINRA rule not robinhood, it applies to all brokers with accounts below $25,000. Keep in mind , if the stock tanks you will have to hold until settlement date. Hope that helps...
3 days. Not familiar with robinhood but you should be able to look at your history " buy-sale" transactions.
