2020 market expectations and positioning - Part 2

[stamploversg]

Yes like I went long SRNE at $8.97 pre market yesterday and dump it at @9.95 upon market open for a quick buck. Profit is profit. But you have to set stop loss too. For me I would set 20% stop loss to minimize risk.

Newbie here. I tried to do similar by buying the stock but got to wait for the settlement date +2. Haven't really figured out what would happen if I sell before the stock is settled (would we actually get a warning if we attempt to sell a stock then we are not supposed to?). I am using IBKR.

 

[candyass]

Newbie here. I tried to do similar by buying the stock but got to wait for the settlement date +2. Haven't really figured out what would happen if I sell before the stock is settled (would we actually get a warning if we attempt to sell a stock then we are not supposed to?). I am using IBKR.

If I understand correctly you can always sell your position before trade settlement date.

 

[slowmover]

Yes like I went long SRNE at $8.97 pre market yesterday and dump it at @9.95 upon market open for a quick buck. Profit is profit. But you have to set stop loss too. For me I would set 20% stop loss to minimize risk.

i sucks at trading. sold 130k shares of srne past few weeks to trade at 2.45
and only manage to buy back 30k at 2.21. Would have make more than a mil sgd if i just held on. same for codx ibio arct i trade wrongly and missed a huge chunk of profit. still make a significant amount of money in biotech this year though.

 

[stamploversg]

If I understand correctly you can always sell your position before trade settlement date.

Oh really? Just read about the "free-riding rule" but can't really keep track anymore if I am buying using settled fund or not. Tried to google but not becoming more confused. So so far wait till D+2

Any experts familiar with IBKR can help?

 

[slowmover]

Newbie here. I tried to do similar by buying the stock but got to wait for the settlement date +2. Haven't really figured out what would happen if I sell before the stock is settled (would we actually get a warning if we attempt to sell a stock then we are not supposed to?). I am using IBKR.

from what i know if your account is less than $25k usd u cant daytrade a stock more than 3 times a week. above $25k u can daytrade as much as u want to.

 

[slowmover]

This is from sec website

Pattern Day Trader
FINRA rules define a “pattern day trader” as any customer who executes four or more “day trades” within five business days, provided that the number of day trades represents more than six percent of the customer’s total trades in the margin account for that same five business day period. This rule represents a minimum requirement, and some broker-dealers use a slightly broader definition in determining whether a customer qualifies as a “pattern day trader.” Customers should contact their brokerage firms to determine whether their trading activities will cause them to be designated as pattern day traders.

A broker-dealer may also designate a customer as a “pattern day trader” if it “knows or has a reasonable basis to believe” that a customer will engage in pattern day trading. For example, if a customer’s broker-dealer provided day trading training to such customer before opening the account, the broker-dealer could designate that customer as a “pattern day trader.”

Under FINRA rules, customers who are deemed “pattern day traders” must have at least $25,000 in their accounts and can only trade in margin accounts. For more information on pattern day traders and related FINRA margin rules, please read the SEC staff’s investor bulletin

 

[stamploversg]

This is from sec website

Pattern Day Trader
FINRA rules define a “pattern day trader” as any customer who executes four or more “day trades” within five business days, provided that the number of day trades represents more than six percent of the customer’s total trades in the margin account for that same five business day period. This rule represents a minimum requirement, and some broker-dealers use a slightly broader definition in determining whether a customer qualifies as a “pattern day trader.” Customers should contact their brokerage firms to determine whether their trading activities will cause them to be designated as pattern day traders.

A broker-dealer may also designate a customer as a “pattern day trader” if it “knows or has a reasonable basis to believe” that a customer will engage in pattern day trading. For example, if a customer’s broker-dealer provided day trading training to such customer before opening the account, the broker-dealer could designate that customer as a “pattern day trader.”

Under FINRA rules, customers who are deemed “pattern day traders” must have at least $25,000 in their accounts and can only trade in margin accounts. For more information on pattern day traders and related FINRA margin rules, please read the SEC staff’s investor bulletin

Thanks! Learnt something today. So who would still care about settlement date if you have >25k? Lots of learning....

 

[slowmover]

Thanks! Learnt something today. So who would still care about settlement date if you have >25k? Lots of learning....

Do take note if less than 25k and u daytrade more than the limit. Your account will be restricted.

 

[chaoprokia]

i sucks at trading. sold 130k shares of srne past few weeks to trade at 2.45
and only manage to buy back 30k at 2.21. Would have make more than a mil sgd if i just held on. same for codx ibio arct i trade wrongly and missed a huge chunk of profit. still make a significant amount of money in biotech this year though.

no problem. always got new opportunity to come.

 

[anytime]

i sucks at trading. sold 130k shares of srne past few weeks to trade at 2.45
and only manage to buy back 30k at 2.21. Would have make more than a mil sgd if i just held on. same for codx ibio arct i trade wrongly and missed a huge chunk of profit. still make a significant amount of money in biotech this year though.

what other big holdings you have? The next million may come

 

[GhostZM]

This is from sec website

Pattern Day Trader
FINRA rules define a “pattern day trader” as any customer who executes four or more “day trades” within five business days, provided that the number of day trades represents more than six percent of the customer’s total trades in the margin account for that same five business day period. This rule represents a minimum requirement, and some broker-dealers use a slightly broader definition in determining whether a customer qualifies as a “pattern day trader.” Customers should contact their brokerage firms to determine whether their trading activities will cause them to be designated as pattern day traders.

A broker-dealer may also designate a customer as a “pattern day trader” if it “knows or has a reasonable basis to believe” that a customer will engage in pattern day trading. For example, if a customer’s broker-dealer provided day trading training to such customer before opening the account, the broker-dealer could designate that customer as a “pattern day trader.”

Under FINRA rules, customers who are deemed “pattern day traders” must have at least $25,000 in their accounts and can only trade in margin accounts. For more information on pattern day traders and related FINRA margin rules, please read the SEC staff’s investor bulletin

This does not apply to people who trade in cash account right?


CheerS!!!

 

[slowmover]

This does not apply to people who trade in cash account right?


CheerS!!!

Not so sure about that. My tda always have been margin account.think the same $25k rules apply.

 

[candy crush]

ANy good stock to get for the month of May?

 

[nats7798]

Greed is in the market now

 

[Mecisteus]

ANy good stock to get for the month of May?

I thought you said sell in May and go away?

 

[Lex1989]

ANy good stock to get for the month of May?

 

[nats7798]

anyone listening to jerome powell's testimony?

 

[InterestingStuff]

ANy good stock to get for the month of May?

HUYA
earnings going to blow everyone away

 

[anytime]

I thought you said sell in May and go away?

May is not over. He may be referring to end May.

 

[chaoprokia]

sold rtx abit.