it is possible to trade options wih a small cash account, even do SOME day-trades, but every time you meet the rules for pattern day trading your account will again be restricted. your current e-trade account restriction will be removed in time.
You aren't really day trading with only $1500 in your account. Real day traders do have a minimum of $25k because trading fees alone would eat at your small amount in less than a week. Switching accounts won't make you more successful..,,you need more cash. A LOT more.
i have made 4 option trades in last 5 days and my etrade account shows me restriction on account.
i have only $1500 in my account, i am not using the margin account. i want to keep day trading options with only my money (cash).
please advise, should i open account with scottrade and keep day trading or this does not effect me since i haven't been using margin account?
