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Pattern Day Trader Rule in USA #484031
08/30/21 20:32
08/30/21 20:32
Joined: Oct 2017
Posts: 56
Munich
K
kalmar Offline OP
Junior Member
kalmar  Offline OP
Junior Member
K

Joined: Oct 2017
Posts: 56
Munich
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

Re: Pattern Day Trader Rule in USA [Re: kalmar] #484032
08/30/21 20:51
08/30/21 20:51
Joined: Feb 2017
Posts: 1,725
Chicago
AndrewAMD Online
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AndrewAMD  Online
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Joined: Feb 2017
Posts: 1,725
Chicago
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

Re: Pattern Day Trader Rule in USA [Re: kalmar] #484033
08/30/21 21:17
08/30/21 21:17
Joined: Oct 2017
Posts: 56
Munich
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kalmar Offline OP
Junior Member
kalmar  Offline OP
Junior Member
K

Joined: Oct 2017
Posts: 56
Munich
Thank you for advise, Andrew. I will proceed with your last option laugh


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