Allstocks.com's Bulletin Board: Trading Restrictions

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Topic: Trading Restrictions

hedfe
Member

Rate Member

posted

I know that you aren't allowed to daytrade more than 3 times a week with a cash account, so I asked scottrade about how many trades I can make a week on settled funds and they said theres no limit, but is this true with all brokers or with just scottrade since their so lienient about everything?

Posts: 550 | From: MI | Registered: Nov 2005 | IP: Logged |

10of13
Member

posted

No limit with etrade or choicetrade...not sure about the others...

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#1 Rule: Protect your capital! #2 Rule: Never fall for the BS on the boards!

Posts: 8890 | Registered: Jan 2006 | IP: Logged |

T e x
Member

posted

quote:
Originally posted by hedfe:
I know that you aren't allowed to daytrade more than 3 times a week with a cash account, so I asked scottrade about how many trades I can make a week on settled funds and they said theres no limit, but is this true with all brokers or with just scottrade since their so lienient about everything?

IMO, Scottie is *not* lenient. That being said, why would there be a limit on trades with settled funds? For one thing, they're settled. It's yours... Second, of course, they don't mind the commissions...

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Nashoba Holba Chepulechi
Adventures in microcapitalism...

Posts: 21062 | From: Fort Worth | Registered: Apr 2005 | IP: Logged |

hedfe
Member

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posted

well I thought ameritrade had 10 trades a week limit (5 buys 5 sells) which wouldn't be good if you trade heavily.

Posts: 550 | From: MI | Registered: Nov 2005 | IP: Logged |

BloodHound
Member

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posted

someone help a newbie out

i have about 3k in my account and im looking to start daytrading making 5-20% gains and keep a long term stock or 2. I use scottrade

whats the rules on daytrading??

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who says you cant trade stocks at 17!!?

Posts: 288 | From: Wisconsin | Registered: Apr 2006 | IP: Logged |

hedfe
Member

Rate Member

posted

You can't daytrade more than three times a week unless you have 25k in your account.
Other than that I really can't answer any of your questions because I need to know your account type,L2 service, etc, and I don't know a whole lot myself anyways [Big Grin]

Posts: 550 | From: MI | Registered: Nov 2005 | IP: Logged |

greenman
Member

Member Rated:

posted

You can trade as much as you want with settled funds. I make several trades per week with a margain account. I only use a percentage of my cash each time, therefore I always have available cash (settled funds). Mine is a margain account but as long I use available cash then my 'margain' is never used.

Posts: 725 | From: litte rock AR | Registered: Oct 2005 | IP: Logged |

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