So scenario: Youve been classified as a pattern day trader w 100k in your account. Overnight you hold a big position of a security, lets say 200k. So basically while you hold the security you have 0 buying power. Then in the morning you sell your entire position. When you try to buy back your positon the same day, the brokerage blocks you from buying anything at all, because your day trading buying power is only calculated once a day (at market close), and since you had 0 buying power at market close the previous day, you cannot buy anything. And all the shares you just sold arent added to your day trading buy power. Meaning you can sell exactly once and cannot buy back for the day, obviously severly limiting your trading options.. The brokerage also tells you if you werent classified as a pattern day trader you wouldnt have this restriction.

Is this normal? Are there brokerages that dont do this?

The short answer is yes. I think it has to do more w/ clearing than buying power.

It should not happen w/ futures if your trades are in the same session on the same contract.

yeah im talking US stocks here.

It seems two brokerages ive talked to (scottrade and schwab) have this restriction and two dont (IB and fidelity)

Obv i feel like this is a big restriction for the serious trader.

I've never run into this problem. I've used Fidelity and another random smaller brokerage that would adjust my buying power on the fly for certain scenarios. (buying stock to lock in options that trade under parity, etc.)

If you're slinging that much action, why would you use Scottrade anyways?

Your point is very valid, and im definitely going to heed your advice. scottrade is the worst broker ive ever worked with. As bad as robinhood but at least robin doesnt charge commission