Pattern day trader status is given to a trader who performs four or more transactions in the same underlying, in the same day (at the same when trading A minimum of $25,000 is required to gain pattern day trader status, otherwise the account will be frozen for several days until the cash is settled. Both opening and closing trades constitute separate trades. This means that if a trade is opened, and then closed on the same day, it will count as TWO trades. This is particularly important for traders with accounts smaller than $25k to take note of to avoid penalties, and a frozen account.