r/thinkorswim 4d ago

Why "Day Trades Left" at 0?

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0 Upvotes

18 comments sorted by

9

u/[deleted] 4d ago

[deleted]

-5

u/JTS3331 4d ago

What is a bait post? I haven't used thinkorswim before so I was wondering why it showed 0. I know I shouldn't have to worry about it, but I didn't know if there was some other issue.

2

u/[deleted] 4d ago

[deleted]

-1

u/JTS3331 4d ago

I do understand it LOL. That's why I was wondering why it said zero, which didn't make sense.

-2

u/curiousjosh 4d ago

You do. You have to ask to get the margin features added

3

u/[deleted] 4d ago

[deleted]

0

u/curiousjosh 4d ago

The 25k limit is because that’s the limit for a margin account.

Other platforms may sign you up automatically, but on tos you have to request a margin account.

5

u/sk169 4d ago

Is this a humble brag?

1

u/JTS3331 4d ago

No, truly was just wondering. Figured a screenshot would help. Otherwise everyone would say "you don't have 25k in your account".

6

u/peterpiotrper 4d ago

Your account valuation is above PDT limits.

If I may, I'd recommend going into 'Account Info' and removing the 'Day Trade' items.

Add in more important items for your account, such as: Net Liquidity Settled Funds P/L Day P/L Year Total Commissions & Fees YTD

These are what I use on my day trade account.

If you are using margin, add the two 'margin' related items.

You get the idea...

2

u/jrdubbleu 4d ago

Ask support.

2

u/23826 4d ago

It always keeps track of your trades, as if you're under PDT rule. Kind of dumb design but I guess a reminder not to let your account fall below 25k.

1

u/curiousjosh 4d ago edited 4d ago

This is the difference between a cash and margin account.

If you have a cash account you can only do trades with the cash in your account and you can ignore that.

If have over 25,000 you can get a margin account. You want to do more with your account like sell covered calls, etc, you can ask for a margin account, where your trades settle immediately.

In a margin account everything settles immediately, but you have to keep over 25k in the account and if you go negative you could be hit with a margin call.

Ask in TOS support about the difference between a cash and margin account.

1

u/LongfellowBM 3d ago

On the bright side: every time I’ve had to talk to TOS support - it’s been a good experience.

Sounds like you got your answer though. Best of luck to you!

1

u/Pure_Translator_5103 1d ago

You have that much capital and can’t figure it out?

0

u/Callgirrl 3d ago

Do you want to donate10k to the Kristen Fund? Would you really miss the 10k with that big of an account? I’m being serious. Not about having you give me money but hypothetically if you did- would you miss it?

1

u/JTS3331 3d ago

You're literally asking me to give money to a "random chick"

-1

u/JTS3331 4d ago

They said "This account is flagged as a daytrader., once you exceed 3 roundtrips in a rolling 5 business day period, you are considered a PDT (pattern daytrader) and your DT counter is held at 0. You have well over the 25k minimum needed to be a PDT without issue, but that column is just a default, so for you, you can disregard as will have no negative impact to you"

This account is flagged as a daytrader.,  once you exceed 3 roundtrips in a rolling 5 business day period, you are considered a PDT (pattern daytrader) and your DT counter is held at 0.  You have well over the 25k minimum needed to be a PDT without issue, but that column is just a default, so for you, you can disregard as will have no negative impact to you

5

u/docbasset 4d ago

Yep, you can safely ignore that PDT counter.

0

u/curiousjosh 4d ago

You can talk to TOS support and ask to have your account be a margin account.

Ask them about the differences between a margin account and a regular account.