On average, not even one. I'm just learning. I've been using ScotTrade but just got approved by TS to get going on their platform. I'm sure I will trade more but I have to watch out not to do 4 round trips within a five day period.
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Pattern Day Trading Accounts: Based on NASD and NYSE day trading rules, any account that places 4 day-trades in a 5 trading day period is permanently deemed to be a “Pattern Day Trading” account. Pattern Day Trading Accounts must maintain a minimum daily equity balance of US $25,000. If the account balance falls below $25,000, trading is restricted to closing transactions only until the account balance is increased to $25,000. |
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I don't have that much money, yet. My plan is to learn the ropes while I slowly build up my account. I've had some luck trading and have a better than average understanding of what's going on but still have a long way to go.
My first goal is to learn to choose winning trades consistantly with 100-300 shares or so with stocks from $2-$10. Next would be to average more than 5000 shares traded in a 1 month period so that the TS platform fees would be eliminated.
If I can get over those hurdles, I should be able to build my account up pretty quick and will jump in with both feet. My focus now is carefully learning as much as I can and have successful trades. Once I able to do that I will worry about the money.