Hello, I got a day trading minimum equity call for the first time, it's due on the 29th, If I wait and do nothing and the Account value goes back over $25k before the due date, will that satisfy the Day trading minimum equity call? Thank you.
I'm no expert, but the way I understand it, your account is locked from putting on anything new. You can close out, or do nothing. Probably the 29th is the date you can trade again as long as it is not pattern day trading or you have met the PDT minimum. That's just a middle of the night answer. Someone in the morning will know for sure.
yes... however, if you remain under 25k and want to open new positions and the PDT flag has been set, it prevents you from opening new trades for 90 days, you can request your broker to reset the flag. If you don't have the PDT flag set, you can still do day trades, just limited to 3 per any 5 business-days period. Check with your broker for any broker-specific rules for handling PDT. Some brokers, let you continue to trade under 25k limit, as long as you don't exceed the 3 day-trades per any 5 business-days limit. https://en.wikipedia.org/wiki/Pattern_day_trader
I think it depends on how the brokerage clears the trades. Trading through TD Direct Investing ( Canadian) as a Canadian, I'm not restricted by the PDT rule. Theirs also no free riding where cash has to be settled. It has to be in the account but they allow me to use unsettled funds to make new trades. I don't day trade myself but usually get 4-7 round trips a week. Now if I we're to trade through interactive brokers I would be subject to PDT rule as to the way they clear trades even though they have a setup in Canada.
As has been said in other threads, if your account value is less than the price of a car, you probably shouldn't be speculating at all.