Pattern Day Trader Rule

"Who Is a Pattern Day Trader?

"According to FINRA rules, you’re considered a pattern day trader if you execute four or more "day trades" within five business days—provided that the number of day trades represents more than 6 percent of your total trades in the margin account for that same five business day period.

"There are two methods of counting day trades. Please contact your brokerage firm for more details on how they count trades to determine if you’re a pattern day trader.

"The rules also require your firm to designate you as a pattern day trader if it knows or has a reasonable basis to believe that you’ll engage in pattern day trading. For example, if the firm provided day-trading training to you before opening your account, it could designate you as a pattern day trader.

"In general, once your account has been coded as a pattern day trader account, a firm will continue to regard you as a pattern day trader, even if you don’t day trade for a five-day period, because the firm will have a “reasonable belief” that you’re a pattern day trader based on your prior trading activities. If you change your trading strategy to cease your day trading activities, you can contact your firm to discuss the appropriate coding of your account."


Conservatism and Change

G.K. Chesterton once wrote or said: "All conservatism is based upon the idea that if you leave things alone you leave them as they are.  But you do not. If you leave a thing alone you leave it twisting in a torrent of change."

We agree, if only based on our observation that in farming if you leave a field fallow for several years you watch it return to its natural state.  Whether this is a good thing depends on what value you need or want from the field.

There is a wisdom in affecting positive change, or benefits from adhering to individual or societal principles, that requires you see what you're looking at.