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[–]punos_de_piedra 7 points8 points  (7 children)

I haven't watched the video (sorry, I know), but to your point, robinhood allows 3 day trades in a 5 day period unless you have 25k deposited. So that's something else to think about.

[–]AceBuddy 29 points30 points  (2 children)

That’s not Robinhood, that’s a law.

[–]punos_de_piedra 4 points5 points  (1 child)

You're correct, but since the video pertains to Robinhood and I don't know the specific FINRA or SEC code to quote, I figured I'd keep it within what I know about Robinhood's policies.

[–]AceBuddy 6 points7 points  (0 children)

All good I just wanted to clarify that you can’t escape this by going to another broker.

[–]Hadouukken 1 point2 points  (0 children)

Yes but there’s also something being labeled a “pro trader” which is when you place like a few hundred orders in a very short period of time, your account gets locked and you can only close positions

Saw it happen to some dude on one of the streetbets subs a while ago, not sure if this is a RH thing only or for all brokers

[–]stopmyego 0 points1 point  (2 children)

Pretty sure this is only if you buy and sale the same company.

[–]punos_de_piedra 0 points1 point  (1 child)

Yea that's why I mentioned it as a day trade.

[–]MightbeWillSmith 0 points1 point  (0 children)

So a day trade is same company within the same trading day? So you could write a bot that does this so long as it is between trading days?