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keronpa
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I made a topic that "my badget is onl $500" and now it's gone (Thank you for all poster who gave me an advice)
I am new to trad stocks and my $500 at scottrade did not allow to buy stocks. because my fund was unsettled at the time.
why? (what does free ride mean?)
I checked FAQ at scottrade web but i don't get it. Please explain it.

well, today my fund is settled i believe i am ready to buy some stocks. I appreciate if you give some advice to buy stocks

keronpa

[This message has been edited by keronpa (edited April 18, 2004).]

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Lutalo
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It means your loot hasnt officially been deposited or arrived into your account yet so therefore its not settled its only expected
Posts: 150 | From: Kiev Ukraine | Registered: Apr 2004  |  IP: Logged | Report this post to a Moderator
platapuss
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Here is my understanding of a "free ride".

You buy company "a" for $10 and sell company "a" for atleast $10. It will take 3 days for the funds to settle from the sale of company "a". You are allowed to turn around and buy company "b" for lets say $10. Now, if you sell company "b" before the settlement of comapany "a" then that's a free ride!

Please correct me anyone out there if I am wrong. But this is what I just just did with IBIZ. I sold ibzt and bought gzfx. Now I have to wait for the funds to settle from the sale of ibzt before I can sell gzft. My account has not been flagged, so I assume I am ok.

The bad thing about this is if the stock starts to tank before the settlement of the first stock, then that's a problem. I should have waited for the funds to settle before I bought a new stock.

Hope this makes since. Happy trading.

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keithsan
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Keronpa,

Your thread isn't gone, its been moved to the appropriate spot.

http://www.allstocks.com/stockmessageboard/ubb/Forum9/HTML/000267.html

Posts: 9110 | From: boston, ma | Registered: Jan 2004  |  IP: Logged | Report this post to a Moderator
keronpa
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Thank you all for your info.

and I bought yesterday gfyf.ob
but i wonder why i could not buy this stock with my limit price 0.0016 (I placed order 4 hours before market open

keronpa

Posts: 8 | Registered: Apr 2004  |  IP: Logged | Report this post to a Moderator
   

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