posted
My account has a Available funds section and a buying power section. I got margin so that I wouldn't have to wait for the three day rule to pass before I get access to money I sell.
Is it true I don't have to wait three days now?
I use Ameritrade
Posts: 666 | From: Snohomish County | Registered: Nov 2003
| IP: Logged |
posted
I have margin with ameritrade Bet, i can sell all my pghi if I want, then buy it back 3 minutes later. There may be some restrictions on multiple trades per day, like 3 or 4 trades with the same cash. Either way you will get daytrading calls all the time, but if you are buying with cash and not with margin, just ignore them.
Posts: 1679 | Registered: Oct 2003
| IP: Logged |
quote:Originally posted by BetNitAll: My account has a Available funds section and a buying power section. I got margin so that I wouldn't have to wait for the three day rule to pass before I get access to money I sell.
Is it true I don't have to wait three days now?
I use Ameritrade
Posts: 1431 | From: Boulder, CO | Registered: Oct 2003
| IP: Logged |
posted
So, I don't have to wait three days even if I use all my money (not includeing margin)to buy a stock, and then sell it 30 mins later. That money will be available to me right away, even though I used all my availabe funds to do it.
quote:Originally posted by cabbage22: I have margin with ameritrade Bet, i can sell all my pghi if I want, then b
uy it back 3 minutes later. There may be some restrictions on multiple trades per day, like 3 or 4 trades with the same cash. Either way you will get daytrading calls all the time, but if you are buying with cash and not with margin, just ignore them.
Posts: 666 | From: Snohomish County | Registered: Nov 2003
| IP: Logged |
posted
I have added it up......I have lost thousands of dollars because I didn't want to sell a stock to do a short term play...thats why I applied for it.
I LOVE MARGIN!
quote:Originally posted by cabbage22: Exactly, a whole new world has opened up for you Bet
Posts: 666 | From: Snohomish County | Registered: Nov 2003
| IP: Logged |
posted
Are the requirements pretty tough to get a margin account, I have an ameritrade cash account right now...I would like to have it just so I don't have to wait either.
quote:Originally posted by BetNitAll: I have added it up......I have lost thousands of dollars because I didn't want to sell a stock to do a short term play...thats why I applied for it.
posted
The first time I applied I was turned down....however they send you an e-mail that says that they did NOT report your request to any credit agency....I waited for about 2 weeks and I applied again....They accepted me the second time....The only thing that changed was that had doubled the amount of money in my account.
With Ameritrade, just go to "My Account" tab. About three quarters down the page it talks about applying for margin. Just follow the instructions.....They ask you, like, three questions....Pretty simple!
Of course, I will never actually use my margin money, and I wouldn't recomend anyone do it.
I just like haveing a margin account because there is no wait period when selling stocks, plus you can write checks on your Ameritrade account with a margin account
quote:Originally posted by TOOKUL1: Are the requirements pretty tough to get a margin account, I have an ameritrade cash account right now...I would like to have it just so I don't have to wait either.
Posts: 666 | From: Snohomish County | Registered: Nov 2003
| IP: Logged |
posted
Cabbage... When I buy a stock, to avoid using my margin, do I just buy enough shares of a company that uses my "Available Funds" money.
So, I won't use margin as long as don't use more money then thats in my "Available Funds"
If I go over my "Available Funds" does Ameritrade automatically use margin money
quote:Originally posted by cabbage22: I have margin with ameritrade Bet, i can sell all my pghi if I want, then buy it back 3 minutes later. There may be some restrictions on multiple trades per day, like 3 or 4 trades with the same cash. Either way you will get daytrading calls all the time, but if you are buying with cash and not with margin, just ignore them.
Posts: 666 | From: Snohomish County | Registered: Nov 2003
| IP: Logged |
posted
I am new to trading and have a margin account with ameritrade. I have a margin call because I traded in and out round trip for 4 times in one week. However I was using my money the whole time I was trading. I do not use the margin account. I have not been moving for the last 2 days for fear of the margin call. Thank you for this clarification. Now I can move on.....
posted
i just switched from a cash account to a margin account also!! i dont plan on ever buying on margin, but i was sick of that 3 day settlement rule.. it is so nice to have my funds available immediatly!!! i missed out on so many opportunities before cause my money was tied up but not anymore! this is great! i was also worried about the margin calls etc. but u guys already answered all my questions before i asked them.. thanks and good luck!
Posts: 128 | From: New York | Registered: Dec 2003
| IP: Logged |
UBBFriend: Email this page to someone!
Printer-friendly view of this topic
