So if i sell my jnug today I'll have the possibility of being marked as a day trader on robinhood. But if i understand correctly that only applies, legally, to people who paytern day trade on margin accounts. So if i didn't borrow any money from robinhood, then i shouldn't be marked as a day trader, right?
thought daytrader is defined as buying and selling a position in the same day. like 3 times in a 5 day period or something.
didn't think margin has anything to do with being identified as a day trader.
>>1697061
PDT rules don't apply to cash accounts.
>>1697204
Wait.... That's a bad thing? Lol I'm day trading rn
>>1697204
https://en.wikipedia.org/wiki/Pattern_day_trader
"The rule applies to margin accounts, but not to cash accounts."
>>1697218
Apparently robinhood is a margin account since i hit the day trade limit and got marked. At least this will present me from wasting money on meme stocks
>>1697284
If you have Robinhood instant, then that is a margin account.