posted
I got hit with the 90 day restriction, is there anyway I can get it lifted??
BuyTex
posted
what were the circumstances, if ya don't mind my asking?
Balttrader
posted
bought and sold a stock in one day, with unsettled funds...
Balttrader
posted
i need this thing lifted, its gonna kill my summer profits
BuyTex
posted
flipped with unsettled funds? so, it's basically a free-ride error on your part?
I'd offer to wire funds to cover or overnight a cashier's check, with an abject apology and assurances it will never happen again...
10of13
posted
Baltrader, Who is your broker? Etrade restricted me...said I did the same thing...I called them and pretty much got no where...the only thing that you can do is get the funds in the account to cover it...or go to a margin account...
I was in the process of starting with a new broker...choicetrade, when all this happened...although I am appealing it...they said it would be 30 days...(I already had already had the funds deposited in my account...long story)that is next Wednseday...and still nothin..but it doesn't cost anything or hurt to have 2 or more trading accounts...with different brokers..or the same...you have a couple of choices...GLTY!!
Balttrader
posted
Thanks for the help guys, although i am not in a position to be able to cover my investment. I'll write a moving e-mail and see where that gets me..
BuyTex
posted
forget the "moving" e-mail, imho...
sell something and gather da cash...
or--don't
maybe you need a "cooling-off" period
Best wishes,
but only you can decide.
Johnwayne
posted
Here's a rule I just found out. If you buy in to stock at say 10:00 and buy again at noon, then sell at close the same day it counts as two round trips, not one.
therustytrombone
posted
how long after the free-ride trade did they hit you with the restriction if you don't mind me asking?
Balttrader
posted
Well, had to be within that day, may have even been right after I sold... I was away, had a sell limit up.
JoeMillion
posted
Change your cash account to a margin account after the 90 day restriction has been lifted so u can trade with unsettled funds.
In a 90 day restriction period you can still sell your shares but you can't buy in that period.
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