Lottery Vs Day-Trader Pattern Rule
Swing Trading the Stock Market
Ryan Mallory
4.7 • 828 Ratings
🗓️ 24 October 2019
⏱️ 18 minutes
🧾️ Download transcript
Summary
Are you familiar with the Pattern Day-Trader Rule? Essentially, if you have less than $25,000 in your account, you cannot place more than three day-trades within a five business day period before you lose the right to open and close a stock on the same day. It is done under the guise of looking out for the little guy, but on the same note, governments across the country run the lottery system (i.e. Powerball, scratch off tickets, etc) that is primarily a tax on the financially hopeless and low income earners. So how can the government impose a day-trader pattern rule because they care about the small guy, but also run a lottery system that is designed to tax the low income earner? Listen to my podcast to find out more.
Be sure to check out my Swing-Trading offering through SharePlanner that goes hand-in-hand with my podcast, offering all of the research, charts and technical analysis on the stock market and individual stocks, not to mention my personal watch-lists, reviews and regular updates on the most popular stocks, including the all-important big tech stocks. Check it out now at: https://www.shareplanner.com/premium-plans
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Transcript
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| 0:00.0 | Learn to trade stock successfully. |
| 0:09.3 | Learn to profit consistently. |
| 0:12.2 | I'm Ryan Mallory, and on my weekly podcast, I'm going to teach you the ends and |
| 0:16.9 | outs of a complex, ever-changing stock market. You will learn to trade better, trade smarter, |
| 0:24.6 | and profit bigger. Now, let's go trade. Hey everybody, this is Ryan Mallory, doing another episode |
| 0:32.5 | of Swing Trading the Stock Market podcast. What do we have to talk about today well i'll back us up a |
| 0:40.1 | little bit to last week i was talking to my brother on the phone and we were talking about the commission |
| 0:45.2 | free stuff right all these brokerages that are offering zero dollar commissions it's awesome i like |
| 0:50.9 | it um fact today i i accidentally i was putting it an order in for a stock, |
| 0:57.2 | and I wasn't ready to get into it yet, but I think I hit a market order instead of, no, |
| 1:03.2 | I had a limit order instead of a stop order. And it immediately took because what I was looking to short, the price, the price was already above it. |
| 1:14.2 | So it was already above the limit order. |
| 1:17.5 | So I got into it and I was just, ah, whatever. |
| 1:19.9 | You know, before I would always get irritated, not because it's a ton of money, but I just hate blowing money on freaking commissions. |
| 1:27.7 | It just seems like a, it's like real estate fees, right? |
| 1:31.3 | Or title fees or paying for something that you just, paying for toilet paper, right? |
| 1:39.3 | I mean, who likes to spend $10 on toilet paper? |
| 1:41.7 | But it's something that you have to do. |
| 1:42.8 | It's something that's necessary. |
| 1:48.2 | You know, but in order to trade, you got to pay commission fees now that it's zero it's great so this trade that i accidentally got into i i basically just got right in right out |
| 1:54.0 | no harm no foul i think i even made a buck 30 or something off of that or a buck fifth i don't know |
| 1:58.6 | it was it was something it wasn't much it was i thought i think it was pretty much i got in and got out at the same price but there was like |
... |
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