Poolman's Account Talk

Poolman,

if your brokerage account is less than $26,000 (I think that's the amount), than you are subject to a day-trading restriction. No more than 3 day trades in 5 trading days.

FINRA provides that a pattern day trader is any account that executes four or more round-trip day trades within any rolling five-business-day period, provided the number of day trades represents at least 6% of the total trading activity during the same five-business-day period.

If you are flagged as a pattern day trader, you'll be subject to restrictions, including a minimum equity of $25,000 at the start of any day in which day trading occurs. Pattern day-trader accounts that fall below the $25,000 minimum equity requirement and day trading will be restricted to closing transactions only for 90 days, or until the equity is brought up to $25,000.


I think that is what you're referring to.
 
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I'm noticing small cap stock's holding up strong.

I would like to see us get past the S&P 915 on a closing basis.

I think we will be higher from these levels by the end of the year. This is

my short term prognosis. :)
 
Not trying to hi-jack the thread

I've been tinkering with this idea since the TSP restrictions, so last week I opened up an account with Ameritrade.
Haven't made a trade yet :toung:
Stupid Question(s);
#1: Does anyone else here trade with online brokers?
#2: Is there a forum on site that addresses that?
#3: Is anyone using any of the Premium Services to facilitate this and does it take into account the ETFs that represent the C,S, and I funds?
 
I recently made 432 online stock purchases and plan to do more after the first of the year. There is no forum to address these issues of stock trading but you would always be welcome to stop by my thread. Some members actually resent the topic of individual stock purchases but they are mostly lower echelon and inexperienced in the category.
 
I recently made 432 online stock purchases and plan to do more after the first of the year. There is no forum to address these issues of stock trading but you would always be welcome to stop by my thread. Some members actually resent the topic of individual stock purchases but they are mostly lower echelon and inexperienced in the category.

Be nice Birch, we are not all as old and experienced as you. I would not consider anyone lower than anyone else. We all put on pants one leg at a time.
 
wv-girl,

I am being nice. Prior to the advent of limited IFT trades there was a great deal of open hostility toward the mention of individual stocks - that has calmed lately now that more members realize the further benefit to owning individual stocks or mutual funds. I've prided myself in being a rebel contrarian and most of my friends believe that friends do let friends buy and hold. There is room enough in the investment arena for all strategies. I've noticed more discussions regarding Roth IRAs and that's positive. I mentioned that I made 432 stock buys but I also made 23 stock sales to raise money to do some of that buying - so I'm not strictly a true buy and holder but close enough.
 
I'll gladly tell you that I spent well over $500K doing those buys. But you must remember that the prices were at historic lows which means dollars are working harder buying more shares. It was definitely fun but dangerous and if the Dow rockets from here I'm on for the ride.
 
This is when it's nice to have Dry Powder... :)



Lock and Load...


I'm Locked and getting ready to load... :D


Fed Rate cut nixed... :suspicious:
 
I recently made 432 online stock purchases and plan to do more after the first of the year. There is no forum to address these issues of stock trading but you would always be welcome to stop by my thread. Some members actually resent the topic of individual stock purchases but they are mostly lower echelon and inexperienced in the category.

Now, Birch...I'm for sure in the lower echelon and inexperienced group you so "lovingly" refer to, and I never begrudge you trading your little heart out in individual stocks. There is no resentment here. However, when I, and the other 90+% inexperienced, TSP, poor, government workers, come to Tom's/our's site, aptly named "TSP"...that's "TSP" Talk, and we go to a thread about a certain fund in the TSP funds and we see a lot of info (mostly appears to be bragging?) about other stocks, trades, how much money someone has made, and things that we don't know about, or plan to, invest in....well, it just seems a little out of place. However, the idea of posting such in "your own" thread, or even a thread set up for those who wish to discuss such, is a marvelous idea. And this thread, as long as Poolman approves, is a fine place for such. Otherwise, a lot of these type posts "clutter and cloud" the brain of us poor inexperienced folks who are just trying to learn, and decide, how to handle our meager TSP fund so that we can have a simple, plain ole retirement. So, don't think that you are not respected for your great input in the arena you talk about...just would be better talked about in a thread about that area, in order to prevent some of us the confusion of it all. That's right, some of us, probably most of us, are just plain simple-minded folks....and, well, quite frankly....we like it that way.

Lobo :)
 
Lobo,

I'm sure you won't be the only one setting me straight - now I know who is paying attention. Any contact that you and others may have with any real world investor may offer some not readily apparent benefits sooner or later. I'm fully bulled up and ready to make some ample gains. Secondly, I don't trade but rather gear my strategy to accumulate shares and the more at golden prices the better. The same goes with my TSP account and you'd get tired of hearing about it eventually. As a buy and holder I blaze my own trail and that is the best approach for my longer term outlook. Snort.

Dennis - permabull #1
 
Lobo,

I'm sure you won't be the only one setting me straight - now I know who is paying attention. Any contact that you and others may have with any real world investor may offer some not readily apparent benefits sooner or later. I'm fully bulled up and ready to make some ample gains. Secondly, I don't trade but rather gear my strategy to accumulate shares and the more at golden prices the better. The same goes with my TSP account and you'd get tired of hearing about it eventually. As a buy and holder I blaze my own trail and that is the best approach for my longer term outlook. Snort.

Dennis - permabull #1

I enjoy most of your comments Birch, though I'm not any where near the size in my portfolio, but with the TSP limiting us to only 2 IFT's, we need as much flexibility and diversification as necessary if we're going to grow our retirement, so I'm open to all possible options, when making money and sharing ideas sure helps in a market that might be a bear market for quite awhile.

Threads just kinda wonder on their own sometimes, but I'd welcome your comments to my home anytime. Now if I can just find it and bump it back up to page one. :laugh:

CB
 
A sensible man that has earned the upper echelon designation. As a nonmulticulturalist I will tell you that we are not all equal when it comes to investing. I'm not on the level of Caymanbrac 12, but I still like to view how he operates his $20M portfolio that was essentially inherited. I can learn from him and I appreciate any communications I have with him. Now today was a give back day but tomorrow will be double exciting.
 
Lobo

Just click on your User CP and click on edit ignore list, then add Birchtree. :D

Edit to add: Although I somewhat agree with you, I think it's easier for you to ignore him, then for Birchtree to change his ways. If it bothers the owner of the thread, then that's something the owner can take up publically or via PM.
 
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Hey you evil frog - I think Alyla still has me on ignore so he won't be alone. For all I know I'm ruminating in the dark like an old bull. But many guests do lurk and that's always fun - Wonder Woman you out there.
 
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