Allstocks.com's Bulletin Board Post New Topic  Post A Reply
my profile login | register | search | faq | forum home

  next oldest topic   next newest topic
» Allstocks.com's Bulletin Board » DayTrading, Momentum, News and More » Daytrading & Choicetrade

- UBBFriend: Email this page to someone!    
Author Topic: Daytrading & Choicetrade
BringYouToLife
Member


Rate Member 		Icon 1 posted      Profile for BringYouToLife     Send New Private Message       Edit/Delete Post   Reply With Quote 
Quick question for all of you. I heard Choicetrade doesn't enforce the 3 day settlement period. Is that true? I'm with Scottrade and the enforcement is really killing my ability to be successful. Thanks
IP: Logged | Report this post to a Moderator
bgrance
Member


Rate Member 		Icon 1 posted      Profile for bgrance     Send New Private Message       Edit/Delete Post   Reply With Quote 
What do you mean by 3 day settlement period?
IP: Logged | Report this post to a Moderator
BringYouToLife
Member


Rate Member 		Icon 1 posted      Profile for BringYouToLife     Send New Private Message       Edit/Delete Post   Reply With Quote 
well, when you execute a trade in a cash account (under 2k$), there is a 3 day settlement period before you can trade again.
IP: Logged | Report this post to a Moderator
bgrance
Member


Rate Member 		Icon 1 posted      Profile for bgrance     Send New Private Message       Edit/Delete Post   Reply With Quote 
before u can trade with the money that you just cashed out, or before you can trade period?
IP: Logged | Report this post to a Moderator
jbill
Member


Rate Member 		Icon 1 posted      Profile for jbill     Send New Private Message       Edit/Delete Post   Reply With Quote 
Scottrade,as others,I think will not let you trade with unsettled funds.
IP: Logged | Report this post to a Moderator
T e x
Member


Icon 1 posted      Profile for T e x     Send New Private Message       Edit/Delete Post   Reply With Quote 
one trade, that's it...

iow, Buy stock A, sell it: funds now unsettled.

You can buy stock B, but can't sell it till funds settle.

--------------------
Nashoba Holba Chepulechi
Adventures in microcapitalism...
IP: Logged | Report this post to a Moderator
cyclekitty1
Member


Member Rated:
4 		Icon 1 posted      Profile for cyclekitty1     Send New Private Message       Edit/Delete Post   Reply With Quote 
Question. Is it possible to be given daytrading status by Etrade and not realize it has happened?
Elaboration. My account always has a greater balance than the 25k required. Does Etrade have to notify me on my change of status or do they just do it?
Just curious.

--------------------
"There is only one good, knowledge, and one evil, ignorance" (Socrates, 470-399 BC)
IP: Logged | Report this post to a Moderator
Pagan
Member


Member Rated:
4 		Icon 1 posted      Profile for Pagan     Send New Private Message       Edit/Delete Post   Reply With Quote 
quote:
Originally posted by cyclekitty1:
Question. Is it possible to be given daytrading status by Etrade and not realize it has happened?
Elaboration. My account always has a greater balance than the 25k required. Does Etrade have to notify me on my change of status or do they just do it?
Just curious.
If your balance is above 25k, Pattern Daytrading designation is a moot point. Only time Pattern Daytrader designation is relevant is if your balance were to dip below the 25k minimum.

--------------------
It is impossible to make anything foolproof because fools are so ingenious.
IP: Logged | Report this post to a Moderator
cyclekitty1
Member


Member Rated:
4 		Icon 1 posted      Profile for cyclekitty1     Send New Private Message       Edit/Delete Post   Reply With Quote 
Thanks Pagan, I wasn't sure how that worked.

--------------------
"There is only one good, knowledge, and one evil, ignorance" (Socrates, 470-399 BC)
IP: Logged | Report this post to a Moderator
BringYouToLife
Member


Rate Member 		Icon 1 posted      Profile for BringYouToLife     Send New Private Message       Edit/Delete Post   Reply With Quote 
thanks, but does Choicetrade allow you to play with unsettled cash? That's my question.
IP: Logged | Report this post to a Moderator
cyclekitty1
Member


Member Rated:
4 		Icon 1 posted      Profile for cyclekitty1     Send New Private Message       Edit/Delete Post   Reply With Quote 
Unless you have a margin account (2000) or stocks valued at 2000 they do not.

--------------------
"There is only one good, knowledge, and one evil, ignorance" (Socrates, 470-399 BC)
IP: Logged | Report this post to a Moderator
PJ
Member


Member Rated:
4 		Icon 1 posted      Profile for PJ     Send New Private Message       Edit/Delete Post   Reply With Quote 
No broker will allow you to trade with unsettled funds.

It's standary industry policy
IP: Logged | Report this post to a Moderator
   

Quick Reply
Message:

HTML is not enabled.
UBB Code™ is enabled.

Instant Graemlins
   


Post New Topic  Post A Reply Close Topic   Feature Topic   Move Topic   Delete Topic next oldest topic   next newest topic
- Printer-friendly view of this topic
Hop To:


Contact Us | Allstocks.com Message Board Home

© 1997 - 2021 Allstocks.com. All rights reserved.

Powered by Infopop Corporation
UBB.classic™ 6.7.2

Share