posted
Ive read that settlement is 3 days. If I buy securities from a cash account, I know it executes when the buy is accepted, and usually the cash/securities is shown in my account (ex.shows less cash, more securities) that next day/night. Is that considered the settlement? Thats 1 day, not 3? Am I missing something? Soon I will upgrade this particular cash account to margain.
Machiavelli
posted
If your not a experienced trader I would not upgrade to a Margin account.. stick to Cash... settlement is when you sell not buy to me at least... when you have cash "available" again to make a new trade... anyways with Choicetrade i dont have that 3 day problem... i can't speak about other brokerages..
newpenny
posted
my experience with a cash account was this I could sell and would see the money there available immed for reinvestment the same day but the new stock I bought with the money now needed 3 days to settle so I could not sell that stock for 3 days. I now have a margin account so I don't have to wait the 3 days for it to settle when I buy with unsettled proceeds from the sale of another stockI can sell the that stock the next day
Machiavelli
posted
cash is better simply because if trades go against you ... you won't get a Margin Call from your broker... and anyways my experiences with Choicetrade are different and positive ...
posted