I already have about 10k in stock with TD but only have 1k in cash in my TD account can I buy in the morning then sell before close. Is there some three day rule?
Posted by stockguy04 on :
the 3 day rule applies for the money u get after u do the whole buy and sell transaction... lets say on monday u buy a stock XYZ at 9 am and sell at 12am .. the money u get after the sell whether a gain or loss... cannot be used for 2 days.. it is considered unsettled cash.. its really annoying and the only way 2 get around it is by making a margin account
Posted by stfxcaper on :
Thanks So if I had 0 cash in my account but had 10k in holdings I could buy stock ( xyz ) and if it went up at the end of the day sell it and the difference would be mine. In three days of course.