posted
Hello, can you guys and gals please tell me what your oopinion is on who executes trades faster? ameritrade vs etrade. thanks
Posts: 112 | From: El Paso, TX, 79938 | Registered: Dec 2003
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posted
i don't know who's faster i think ameritrade because everyone here uses them what i do know is etrade makes me wait 3 days after i sell before i can reinvest and every time i'm waiting i see a stock moving that i could be buying. Good Luck
Posts: 480 | From: Dominican Republic | Registered: Sep 2003
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posted
Thanks Offshore. Yeah I kinda figured that to cuase everyone here does seem to use it. I was not aware that you had to wait 3 days after a sale to be able to use you funds. Wow! Is etrade that way also? Thanks.
Posts: 112 | From: El Paso, TX, 79938 | Registered: Dec 2003
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posted
Cash trading accounts "should" operate with the 3-day rule. This is an SEC regulation to stop people from free-riding. (Look it up, it has been discussed here before). But with cash accounts, any buy or sell transaction takes 3 days to settle. So If you bought something this morning and sold it this afternoon and wanted to use those funds to buy something else the next morning, typically you can't because the money hasn't had time to be settled yet.
So if this were the case and they allowed you to, you would be trading money that isn't even yours because it hasn't been settled yet. This can removed by any broker by applying for margin. You don't need to use margin, but it lifts the 3-day holding period.
posted
I have a cash account with E*Trade. I have always been able to sell a stock and then use the funds to reinvest immediately. The only time I have had to wait three days for clearing was when I requested they send me a check.
posted
I use etrade and I've also found that I can re-invest after I sell a stock before the three day waiting period. However, if I want to wire the money out of my account I do have to wait for the three day period.
Posts: 32 | From: chicago, il, usa | Registered: Jul 2003
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posted
perhaps i have made the wrong decision earlier today whey i opened up an ameritrade account. is there an ameritrade account holder out there who can trade with the funds they have aquired from a sale before the 3 day period?
Posts: 112 | From: El Paso, TX, 79938 | Registered: Dec 2003
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posted
I think you may be misunderstanding the 3-day rule a bit. It is true, with ameritrade too, if I sold any stock in my portfolio right now, I could re-invest it right away. That is because I purchased those stocks more than 3 days ago.
What you can't do is buy, sell, then buy again all within 3 days of the initial purchase with those funds. That is a more accurate definition. So yes, you can sell stocks and re-invest immediately, as long as when you purchased that stock it has been settled.
I could be wrong with etrade, but I would find it hard to believe they of all brokers would let you get away with something like that.
quote:Originally posted by firmbatch: I have a cash account with E*Trade. I have always been able to sell a stock and then use the funds to reinvest immediately. The only time I have had to wait three days for clearing was when I requested they send me a check.
Thanks,
Greg, G.
yeah i have two etrade accounts one is about 5 yrs old the other account is in my parents name and is newer this is the account that is the slower one. as far as new sec regulations that sounds like some B.S. started by the sec to get your money for three days the companys take all that money put it in a currency account they trade it or just collect the intrest on it you could take 30 million buy usd/jpy on friday right before the close and hold it over the weekend and make 1 dollar per contract for two days and sell it all at the open and usd/jpy almost always gaps up on open i used to do this every friday for free cash over the weekend ,you guys that think the sec and your brokers are your friends are funny they dont give a sh*t about you.
offshore
[This message has been edited by offshoretrader (edited January 02, 2004).]
posted
I use to have Etrade for 3 years and last year I switched over to Ameritrade. It took 5 days and $60 to switch over. Like Jeremy said and I also can use my money right away without using the 3 day rule. I think there is some rule with Ameritrade - if you buy a penny stock you have to hold it for at least 3 days before selling it - if you want the use of that money right away. Also with Ameritrade you pay $10.99 for trading. Etrade is $22.99.
posted
I have Ameritrade, Never had a problem,BUT I am never in & out of a stock in 1or 2 days. MAYBE there is a lesson in this ????
Posts: 1424 | From: Peoria, IL. USA | Registered: Oct 2003
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posted
hey, van when a penny stock breaks out nine times out of ten the trend is over in three days just look at the charts you'll see the price breakout of it's trading range (intial buying) the second day a up bar (late buying )by the dumb money crowd and on the third day (selling buy the pros)you'll see this on the bar chart in what looks like a tail or what i call a upthrust this is the really late peouple buying with hopes of going higher for another day and the pro's getting out of there buying postions and going short.
[This message has been edited by offshoretrader (edited January 02, 2004).]
quote:Originally posted by mryj2000: I have a problem. can I use ameritrade to buy canada stock?
****.ca?
if you live in the u.s.a you can not invest in canada unless your a professional trader foreign markets are not available to u.s. nationals unless you have a second passport or are a professional trader/broker.
posted
OFFSHORE Sorry I missed your point about the 'penny" timing,Could you restate ?. I read a lot of your posts and am trying to figure the "PENNYS".
Posts: 1424 | From: Peoria, IL. USA | Registered: Oct 2003
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posted
van all i was saying is that most pennies when they breakout it usually will last only three days what i do is watch the volume and the brakeout you can try to buy them before the breakout but you may have to sit there for sometime before they do ,what i do is i wait for the brakeout when the stock brakes out on higher than average volume i take this as a buy signal i hold for two days the brakeout day and the second day on the third day i sell if the stock has been trading real low say .0001 to .0009 the third day is usualy 1000% if you sell on the third day you can get out without being caught in a bulltrap most really cheap pennies will try to pull some form of bulltrap.just use volume alerts and look at the price and you'll be able to spot them look for stock that do higher than average volume at the open .also you can use the message boards to spot the stocks that peouple are intrested in buy on the breakout and hold, as long as its not a false breakout like GWDL you'll be ok.i hope this helps .
offshore
[This message has been edited by offshoretrader (edited January 02, 2004).]
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