Question about pattern day trader.

conchimdada said: "Question is how many warnings or exemptions do you get before they actually take away your margin privileges? I hear some people saying 2? Thanks in advance"

conchimdada said: "Got my second warning today, but my first warning was maybe 1 year ago. Any effect?"

thezster said: "Depends on your broker. They have the right to suspend your privileges immediately - but usually give at least one warning. If you last one was a year ago - you're probably safe for now.. but don't violate the rules again for a good long while..."

conchimdada said: "Thanks T, doesn't seem like I'm safe, called them and told them about my situation, but they still are taking my margin privileges away. Is it possible for one to close the account and open another one in hopes of reactivating a margin account again?"

thezster said: "Yes, with another brokerage firm."