Come on OSTK, wash all my bad trades away

May want to keep an eye on RLFTF. Just announced a news conf for Monday AM before market opens to announce final results of Phase 3 data for Aviptadil/Zyesami. Current results are for the IV form of the drug, but the drug is also be tested now in an inhaler form, which could continue to kick this can down the road. I've been in this since August. It should move up some today....but be careful!!

https://finance.yahoo.com/news/neurorx-announces-completion-data-analysis-133500246.html

Dang! I got the ticker wrong on my last post! It should have been RLFTF!!

KT 90 said:

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irish pete ag06 said:

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Irish 2.0 said:

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irish pete ag06 said:

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What do yal recommend doing if my account is below 25k and I accidentally over day traded and fidelity is sending me dirty messages about it. Putting in enough cash to get to 25k is not an option at the moment.

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Go to a cash account and quit trading on margin. Have to be careful about good faith violations then

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I actually never made a trade that cash wouldn't cover. I just bought a sold a small amount of stock too many times this week.

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You probably got the 90 restriction of only being able to trade with settled funds. You can work around it, just have to plan out things a bit and make give two days for funds to settle following a sale.

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And I forgot to mention last night, that's the only reason I switched to margin was to not have to wait for cash to settle.

KT 90 said:

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4&T said:

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Anyone still holding QD? Earnings report coming out before opening on Monday. Apologies if I've missed discussions about it, work has taken a lot of my attention away... which might have been a good thing given how things have gone relatively.

Also using this FLNT dip back into the 4s to reenter after swing trading it awhile back.

Another name I've been in that has held up really well during this market is USIO.

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hasn't been much discussion of QD, but it's a China Joe pick. I got in early and it's done pretty well overall. No idea how earnings will impact it.

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MM have done a good job setting it up.

Fireman said:

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irish pete ag06 said:

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Fireman said:

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You can keep trading, but you might consider dropping down to only a handful of positions (favorite 3 - 5), and avoid buying anything you think you might want to sell that same day.

You can also reach out to Fidelity and explain to them you are not a day trader, and the markets were super volatile this week, which led you to buy and sell your positions in the same day. The PDT rules are government regulations, so Fidelity does not have an option but to label your account PDT, and give you the warnings you keep seeing. Most brokers will remove it the first time when you contact them.....but there's no guarantee.

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Yeah they "can't" remove it. She said they could in the past but the new policy is it stays no matter what.

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You must have forgot to say "so if I move a couple million over from my IBKR account - will that fix it?"

Jokes aside - if you stop day trading, I think those warnings go away in about 60 - 90 days, but some of the more experienced experts might know more than me on that.

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I've considered moving my account to IBKR or TOS. Is IBKR ok for small accounts?

irish pete ag06 said:

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Fireman said:

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irish pete ag06 said:

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Fireman said:

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You can keep trading, but you might consider dropping down to only a handful of positions (favorite 3 - 5), and avoid buying anything you think you might want to sell that same day.

You can also reach out to Fidelity and explain to them you are not a day trader, and the markets were super volatile this week, which led you to buy and sell your positions in the same day. The PDT rules are government regulations, so Fidelity does not have an option but to label your account PDT, and give you the warnings you keep seeing. Most brokers will remove it the first time when you contact them.....but there's no guarantee.

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Yeah they "can't" remove it. She said they could in the past but the new policy is it stays no matter what.

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You must have forgot to say "so if I move a couple million over from my IBKR account - will that fix it?"

Jokes aside - if you stop day trading, I think those warnings go away in about 60 - 90 days, but some of the more experienced experts might know more than me on that.

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I've considered moving my account to IBKR or TOS. Is IBKR ok for small accounts?

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It's a federal regulation issue for PTD. The brokerages are required to restrict your account if you're labeled a pattern day trader and your account value is under $25k if you're using margin. If you're a cash account, the brokerages aren't required to restrict you under $25K, but some still do.

irish pete ag06 said:

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Fireman said:

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irish pete ag06 said:

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Fireman said:

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You can keep trading, but you might consider dropping down to only a handful of positions (favorite 3 - 5), and avoid buying anything you think you might want to sell that same day.

You can also reach out to Fidelity and explain to them you are not a day trader, and the markets were super volatile this week, which led you to buy and sell your positions in the same day. The PDT rules are government regulations, so Fidelity does not have an option but to label your account PDT, and give you the warnings you keep seeing. Most brokers will remove it the first time when you contact them.....but there's no guarantee.

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Yeah they "can't" remove it. She said they could in the past but the new policy is it stays no matter what.

---

You must have forgot to say "so if I move a couple million over from my IBKR account - will that fix it?"

Jokes aside - if you stop day trading, I think those warnings go away in about 60 - 90 days, but some of the more experienced experts might know more than me on that.

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I've considered moving my account to IBKR or TOS. Is IBKR ok for small accounts?

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I guess it depends on what you consider small. I opened mine with less than $25K and it has worked for me. Once I was comfortable with it, I moved more.

What is a cash account vs a margin account? Maybe this is a simple question.

MaroonDynasty said:

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KT 90 said:

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4&T said:

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Anyone still holding QD? Earnings report coming out before opening on Monday. Apologies if I've missed discussions about it, work has taken a lot of my attention away... which might have been a good thing given how things have gone relatively.

Also using this FLNT dip back into the 4s to reenter after swing trading it awhile back.

Another name I've been in that has held up really well during this market is USIO.

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hasn't been much discussion of QD, but it's a China Joe pick. I got in early and it's done pretty well overall. No idea how earnings will impact it.

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MM have done a good job setting it up.

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Go on....

Margin lets you FOMO in

Spoony Love said:

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What is a cash account vs a margin account? Maybe this is a simple question.

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Cash account means you can only day trade settled funds w/o getting a good faith violation (3 of those and account restriction usually). Margin allows you to trade funds that aren't settled.

i am not sure but I think that the BTC miners have actually all fallen below yesterdays marks while BTC has gone up

SOS, SINO, NXTD all quite a bit lower than yesterday but BTW is 2k up

that seems odd to me.
oh well...its a nice sunny days despite another blah day for my portfolio so i guess its time to go get a couple of Whataburger taquitos and go feed my cows

Another **** day

thanks.

FbgTxAg said:

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Y'all don't F*** this opening up. Open green, keep green, sprint to the close green. I want to see McInnis' Green F***** Hammer.

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LEN pushing through $102 for 3rd time today. See if they get some volume to get some real momentum.

God Roku is just murdering me.

$30,000 Millionaire said:

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Some weeks you get your richard punched in. That was me this week.

Folks - just let the chop play out, hopefully resolution next week.

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Okay, let's go off the deep end here for some 'sky is falling' edgemukation.

In OAs first seminar he mentions bear markets are horrible for trading because, well, nothing happens. No volatility to work with, no real momentum.
How do you trade in a bear market? Or is it just waiting for the institutional investors to get off the bench and move the market?

disclaimer: I don't think we are headed that way, but the headwinds are picking up with the government's' help.'

D2F1D0 said:

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Okay, let's go off the deep end here for some 'sky is falling' edgemukation.

In OAs first seminar he mentions bear markets are horrible for trading because, well, nothing happens. No volatility to work with, no real momentum.
How do you trade in a bear market? Or is it just waiting for the institutional investors to get off the bench and move the market?

disclaimer: I don't think we are headed that way, but the headwinds are picking up with the government's' help.'

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Selling premium.

Ragoo said:

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$30,000 Millionaire said:

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Some weeks you get your richard punched in. That was me this week.

Folks - just let the chop play out, hopefully resolution next week.

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best part about being long stock and short calls is that the assets stay mine if the price falls. More capital intensive but I am not the one seeing $0 at the end of expiry. Just have to be patient and pick calls sales on spikes for juiced premium.

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My mistake was getting into OTM tech trades. I have another 5% of my account at risk, but that's ok.

ROKU model T from the low after Covid crash to the high last month is $272.47. Also looks like it's currently in a h&s pattern. Looks like there's also a very small gap between $265.97 and $268.6.