Series 99: Pattern Day Trader

Taken from our Series 99 - FINRA Operations Professional Qualification Examination

Definition of the term Pattern Day Trader...

an individual who executes four or more day trades within five business days, provided that the number of day trades is more than 6% of the trader's total trading activity over the five-day period. Individuals who meet the definition of pattern day traders must open special day trading accounts that are subject to specific requirements.

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