posted
What's the deal with the free ride? I saw that last week (or maybe the week before) and I called Scottrade to ask them if that means I can't sell. They told me it's OK to sell...I do it all the time now. Maybe I misunderstood? I'm just starting out, so would appreciate more info about this.
In the meantime...I'm kicking myself BIG TIME for selling this morning at .22!
Posts: 47 | Registered: Jan 2006
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quote:Originally posted by Jelly: ALWAYS take profits! ALWAYS. Go with your gut! Greed will KILL you!
I think his issue was the "free ride"...but I think some brokerages are not enforcing it, unless you commit the grievous sin of 4 daytrades in 5 business days...
Posts: 287 | Registered: Jul 2005
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My experience with Scottrade is quite frankly, they dont give a crap, unless you do what I mentioned in my above post.
Posts: 287 | Registered: Jul 2005
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posted
no jelly. I think he meant that using unsettled fun to buy and sell again. I think the first time is ok, 2nd probation on account, 3rd i forgot. YOu can sell it no problem, if you drive to the broker and pay them with a check the same day you sold it.
-------------------- Learning The Way Of Life.... Posts: 658 | From: Phoenix, Arizona | Registered: Dec 2005
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quote:Originally posted by Danny12345: no jelly. I think he meant that using unsettled fun to buy and sell again. I think the first time is ok, 2nd probation on account, 3rd i forgot. YOu can sell it no problem, if you drive to the broker and pay them with a check the same day you sold it.
Actually, it's pay before the stock settles...
Posts: 287 | Registered: Jul 2005
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I know with Etrade if you use the funds to buy something, you can't sell for 3 days unless you put more funds into the account to cover. If you do, restriction for 90 days.
Posts: 1632 | From: NJ | Registered: Nov 2005
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posted
Oh gosh...I'm confused and worried now...I've done this, buy and sell with unsettled funds, a bunch of times in the last 2 weeks. I didn't get any notices or restrictions. I'm going to call Scottrade again and try to get a better understanding of this.
Posts: 47 | Registered: Jan 2006
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posted
Sorry, I was on a conference call for a bit. Basically my concern is that I sold some stock on Tuesday and used that money to buy this one. Scotttrade said if I sell this stock before the money from my sold stock goes through then it was a free ride and I am subject to penalties. If Phoenix is correct tha Scottrade doesn't care, then it's no big deal. I just didn't want to get my accout susepended.
Posts: 5508 | From: Southeastern PA | Registered: Jan 2006
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posted
in my experience, they e-mail you a coupla times, or call you on the phone. All you have to do is run a check by or close out another position to cover... I think it's worthwhile to visit your branch office ocassionally--I'm on a first-name basis with several at the local branch...never hurts
posted
I like this got in yesterday and i'm riding free now. And its still stooting up
Posts: 510 | From: Dallas, TX | Registered: Apr 2005
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posted
What is making this stock move? Kicking myself for getting out w/ 90% profit yesterday LOL! shoulda kepts some free shares, who knew
Posts: 112 | From: NY | Registered: Apr 2004
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posted
Hey guys, im new and don't know much but what made you guys hold overnight? Bought at .20 and got out at .38. I got out because 90% seemed to be good enough, and the buying pressure seemed to stop. Don't stocks usually drop after going up so much in one day with no news? Any advice would be appreciated
Posts: 112 | From: NY | Registered: Apr 2004
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posted
This stock is still rising. .53!! Why did I sell * .38!!!!! Are any of you still in this? Why did you hold? Was there news that I didn't see???
Posts: 112 | From: NY | Registered: Apr 2004
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Held after Wednesday close only because I was afraid of discipline for a free ride, but since it kept going up, I've kept it. I'll probably get out around .50 if it drops back down to there, and I'll keep bumping up my sell price if it keeps going up. For me it has nothing to do with news, or holding it because I "know" something. Pure luck for me.
Posts: 5508 | From: Southeastern PA | Registered: Jan 2006
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