You will be considered a pattern day trader if you “day trade” 4 or more times within 5 business days and your day trading activities are greater than 6 percent of your total trading activity for that same 5 day period.
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Alpaca supports the following extended trading hours: Pre-market: 9:00am - 9:30am, After-hours: 4:00pm - 6:00pm
The theory behind automated trading makes it seem simple: Set up the software, program the rules and watch it trade. In reality, however, automated trading is a sophisticated method of trading, yet not infallible.
Conditional orders, also known as Bracket Orders, are those which will be sent to the market only if specific conditions and criteria are met.
In Alpaca's paper trading, orders aren't routed to the real exchanges. Instead, the system simulates the order filling based on the real-time quotes.