Also was told that I had a 25,000 in order to day trade on multiple times during the week the week otherwise I was restricted to one day trade everyday 5 days
8/2/2024 09:01pm
You are correct that the $25,000 requirement applies to pattern day traders, who are subject to additional regulations and restrictions. If you are not a pattern day trader, you may not be subject to the same restrictions.
However, it's important to note that day trading, especially in penny stocks, can be risky and volatile. It's essential to have a thorough understanding of the risks involved and to employ appropriate risk management strategies. If you are unsure about your pattern day trader status or have any concerns about potential restrictions, it's a good idea to consult with a financial advisor or regulatory authority to clarify your options.