Quote:
Originally Posted by Discuss Thrower
I've had my trading account flagged as a PDT and I'm needing to meet margin requirement in order to do any additional trades.
So today has been fun.
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Pattern Day Trader? Is that what you mean by PDT?
Last year I had enough margin calls. I got whipsawed on a bunch of hedge positions, because I thought I knew what I was doing. Ended up fine because I still had the physical, but mother****er, approving those ACHs are ass. I've had enough (As I sit here with a bunch of hedges through contracts on LOL).
Side story that probably only I think is funny, but I talked to an old guy I bought this sprayer from. Got a call from my broker. On call. Whatever, approve the ACH. He told me he had cattle hedged in the 80s, whatever year the market was limit down for something reeruned like 12 days in a row or something ****ing horrific. Anyway he told me the secretary for the broker would always call at the same time and had some cringey voice that was like nails on a chalkboard, "STAN, you're on call again today." I'll probably never forget the face he made. I laughed for days about that.
But yeah, that cattle market in the 80s. Those guys were tough sons of bitches. Paying ridiculous interest and daily limit margin calls.
