A pattern day trader is anyone who meets the following criteria:
Any margin customer who executes 4 or more day trades in a 5-business-day period.
The number of day trades must comprise more than 6% of total trading activity for that same 5-day period.
Any margin customer who incurs 2 unmet day trade calls within a 90-day period. You can check your classification at the bottom of your Balances page: Go to your Trading Profile and select the Trade Restrictions & Violations link.
Watch this video to learn more about pattern day trading (1:28)