Unfortunately, I have some urgent deliverables at work and won’t be able to trade till Friday.
On a side note, I opened 3 more TOS accounts and I will fund them with 4000$ each. This means I will have total 4 accounts and 4 * 3, 12 day trades in a week. I think that should be good enough for now. And yes, did I tell you that TOS makes it SUPER EASY to create additional accounts? I have never experienced customer service as good as TOS. I know I sound like a fan boy whenever I talk about TOS but trust me, if you do any business with them, you will also become a fan boy. The only problem with TOS is the lack of availability to borrow stocks for shorting. They won’t even have DAL and ABK (very high volume stocks) for shorting. You can request them to reserve shares through chat but as I indicated in the past I like to use OCO orders and somehow there is no order type which supports ‘short by chatting with customer support.’ 
That’s all for now. Good luck with your trading!
RJ.
5 responses so far ↓
1 YngvaiMalmsteve // Oct 23, 2008 at 10:32 pm
Yes, TOS is awesome when it comes to opening new accounts. And it’s so easy to jump between accounts in the software.
2 Jeepee // Oct 24, 2008 at 4:29 am
Hi RJ, interesting post. This is definitely the way ahead to beat the pdt rule. do you need to go through the entire account opening process again? From what I read from Yngvai it doesn’t look like it. I’ve been fairly lucky with TOS when it comes to reserving shares, probably because of the time difference; I reserve in ‘my afternoon’ really early in the US.
3 matty84 // Oct 25, 2008 at 1:05 am
I’ve had terrible luck recently, Jeepee…NANX, MPEL, MYEC my top short watches last week, couldn’t get them multiple days, BRCD today couldn’t get…I feel it’s getting worse.
And the process is really simple, for sure…go for it if you’re looking for more trades!
4 gmat // Oct 26, 2008 at 2:20 pm
Regarding multiple accounts: couldn’t you cover your day trades in different accounts to avoid the PDT completely and thus have unlimited day trades.
The only drawback would be the two extra commissions. Example:
Monday
ACCOUNT#1: short 1000 ABK (say @ $2.50 at 10 AM)
ACCOUNT# 2: buy 1000 ABK ($2.00 at 10:30)
Tuesday
Flatten both positions from the two Accounts at the same time at the market open.
Is this possible with the two accounts at the same broker?
5 johnnyvento // Oct 27, 2008 at 10:31 pm
yes that is possible in theory although in reality you would put excessive drag on one account versus the other (say your profits were locked in at $500 but the stock moved another $1 causing one acct to be up 1k more while the other would be down 1k, causing an imbalance that would be impractical to fix every time (it takes 2 days to transfer money into an acct)
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