The Pattern Day Trader rule is a big nuisance for day traders with small accounts. If you have under $25,000 in a margin trading account, you are subject to PDT which means you cannot take more than three day trades in a five-day period. If you can't get over $25,000, you probably want to find… Continue reading How to Get Around the PDT Rule for Day Traders
Robinhood and Webull both offer easy-to-use trading platforms that are geared towards new retail traders. I have used both brokers and I have a clear preference for one over the other for many reasons. But, let's take a side-by-side look at both so you can which might fit your trading and investing goals best. Basic… Continue reading Robinhood Vs. Webull: Which Broker Should You Use?
If you're trading stocks, taxes can seem like a nightmare. There is one really exceptional option for anyone who is actively trading or investing and making a good bit of money doing it: The Roth IRA. If you don't have a Roth IRA, you should probably be looking into opening one. The tax benefits are… Continue reading Trading or Investing in a Roth IRA to Minimize Taxes
A stop-loss is a useful tool if you're trading stocks that have the potential to make big moves. Think meme stocks, penny stocks, biotechs, hot sector stocks, etc. If you're not able to sit and watch charts and price action all day long, you need to know how to set a stop-loss to prevent your… Continue reading How to Set a Stop-Loss on Robinhood