Pattern Day Trader Rule in USA

Posted By: kalmar

Pattern Day Trader Rule in USA - 08/30/21 20:32

I was going through Alpaca documentation and found this Pattern Day Trader Rule: if your account is less than 25k and you do 5 day-trades (buy+sell a stock during a day), your next order will be rejected. Maybe it is smth for future Zorro functionality?

https://alpaca.markets/docs/trading...tern-day-trader-pdt-protection-at-alpaca
Posted By: AndrewAMD

Re: Pattern Day Trader Rule in USA - 08/30/21 20:51

You can avoid day trades script-side. Use is(NEWDAY), combined with an AssetVar to track whether you traded a given asset for the day.

Also, enable AutoConfirm in Zorro.ini.

Finally, open trades without stops. Only stop out a trade if your TMF confirms that a trade did not occur with that asset for the day.

You can also trade futures, which are not subject to such silly rules. Or better yet, get more capital. wink
Posted By: kalmar

Re: Pattern Day Trader Rule in USA - 08/30/21 21:17

Thank you for advise, Andrew. I will proceed with your last option laugh
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