posted
do you have wait 3 days for your cash to settle after you sell a stock for all online brokers? because on ameritrade you do. if theres an online broker that doesnt make you wait 3 days for your cash to settle and be able to be traded, i would probably transfer my money to them instead of keeping it in ameritrade. i would like to make more than one trade a day, if possible. respones would be greatly appreciated.
Posts: 824 | Registered: Oct 2004
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posted
All brokers suppose to use that rule. It is a SEC rule. There is a way of going around it though. You have to apply for a margin acount. Margin Accounts do not have the 3 day rule but always be careful using margins, its not your money. It's borrowed money from the Broker. Also you can not daytrade more then 4 same day (Buy and Sell of the same stock) in a 5 day period with a margin account. You can get around that too if you don't use margin just cash.
Posts: 4405 | From: Bristol, Tn, USA | Registered: Aug 2004
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posted
Trade cash and trade using Choicetrade.com ... $5 trades for buy and sell for mainstream stocks as well as pennies... .99 cents for options.. anyways check out the site.. superior customer service...
Posts: 4669 | Registered: Mar 2004
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posted
I talked to them and they want 25k if you get dinged as a day trader... Basically I guess you cant have more then 3 trades a week or something like that.
Posts: 577 | Registered: Nov 2004
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posted
If you want to be a daytrader then you will need 25K at any brokerage.. but if you have a cash account you can trade any amount of trades per day.. at least i have... with daytrading accounts you will also be trading on margin (borrowing money from the brokerage) so they want to know that you have at least 25K in the account in case things go bad for you... anyways i would not recommend you be a daytrader if you do not know what you are doing.. you can make just as much money at Swingtrading then daytrading... so you should consider Swingtrading because there are no restrictions to it and after awhile when you have gotten some trading experience via swingtrading and have built up your account to 25K or so then consider daytrading as another option... besides with daytrading you need to be on the computer 9 to 4 EST from monday thru friday.. do you really have that amount of time or money (this includes living expenses since you will not be at a "job" and receiving a check.. remember daytrading is very risky you can lose it all)? ... with swingtrading you would because you do not need to be in front of the computer that much.. you hold stocks from 2 to 7 days and sometimes a little longer and still make alot of money.. just think about it <shrugs> and consider Choicetrade because there commissions are low and account minimum's are low as well.. etc...
Posts: 4669 | Registered: Mar 2004
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posted
I am not thinking of day trading yet still learning. Went and bought 2 of the books you recommeneded today. Going to read those before I do any kind of serious trading.
Just watching the stocks yall talk about and then I go and look them up and follow along to learn the ropes you might say. Right now I am testing my skill on marketwatch pretend stock portfoli..
posted
thats the way to do it.. read and learn... and Papertrade without risking real money till your sure that you understand trading concepts... some people dont (me included back in the day before the tech bubble burst).. they just jump in and trade and do not have a clue what they are doing.. if someone does not know what Resistance and Support are believe me they need to learn to trade first or lose all their money... I learned that lesson the hard way back in the late 90's with the tech stocks.. i jumped into the market without knowing what i was doing... doubled my investment and eventually lost it all when the tech stock bubble burst... learn from other's mistakes... read a book and learn to trade...
Posts: 4669 | Registered: Mar 2004
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posted
I think the next tech bubble is going to be in the Voice over IP arena..
Looking for a VoIP company to invest in but the one I think is going to boom http://www.sylantro.com/ doesn't seem to be traded yet. They seem like the next Redback as far as providing the equipment and competing with companies like cysco lucent. Wish they where traded I would jump in now.
But I will papertrade for a little while and keep reading and maybe attend some kind of classes or seminars.. Want to be fully armed before I jump in. I will probably start small 2000 bucks and grow if I can.
posted
Wish I could do a TA on this one but since you mentioned its not being traded yet I can't.. I tried looking for a symbol with no luck.. anyways never buy a stock without doing your DD first.. even if it looks good make sure first..
Posts: 4669 | Registered: Mar 2004
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