I understand it is defined as 4 or more round trips in a 5-day period. I assume these 4 sets of transactions would need to be with a single brokerage. So if you have, say, an etrade and an ameritrade account, you could make 3 round trips in each and not be penalized for pattern day trading. Am I right?
Yes technically. I believe these tracks are only per brokerage.
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