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MichaelMaggs (talk | contribs) Adding local short description: "Type of stock trader", overriding Wikidata description "stock trader who frequently buys and sells a security within the same trading day" |
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{{Short description|Type of stock trader}}
{{Use American English|date=June 2020}}
{{Use mdy dates|date=June 2020}}
{{howto|date=April 2024}}
In the [[United States]], a '''pattern day trader''' is a [[Financial Industry Regulatory Authority]] (FINRA) designation for a [[stock trader]] who executes four or more [[Day trading|day trades]] in five business days in a [[margin account]], provided the number of day trades are more than six percent of the customer's total trading activity for that same five-day period.<ref>{{cite web|title=Pattern Day Trader|url=https://www.sec.gov/fast-answers/answerspatterndaytraderhtm.html|website=SEC.gov|publisher=[[Securities and Exchange Commission]]|date=February 10, 2011|accessdate=June 1, 2020}}</ref>
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