Ive been doing really well with "day trading" SKF. I short it and buy at certain times. I cover my own rear with different trades and lock in a gauranteed return. my thing is I dont want to be labeled a day trader because I dont have the $25,000 to fork over.
ok I havent been buying and selling in the same day, I buy one day and sell the next. is that a day trader or a pattern trader?
A day trader buys and sells a security in a given day, so they have no open positions at the close of business.
A pattern trader is any margin customer that day trades (buys then sells or sells short then buys the same security on the same day) four or more times in five business days, provided the number of day trades are more than six percent of the customer’s total trading activity for that same five-day period.
As a pattern trader, you must carry a minimum equity of $25,000 at all times
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