posted
well nobody can complain about ending a day around 1/4th of a cent up, nearly 16%. Well I am off to grab some dinner. Night all. have a great weekend!
Posts: 1153 | From: northeast | Registered: Apr 2004
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futuresobjective Member posted April 23, 2004 14:04 --------------------------------------------------------------------------- I could see us closing at 0.0171 today... that would be a solid close.
Posts: 722 | From: Atlanta | Registered: Feb 2004
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posted
little note, the news link on their homepage was just not working for me... if its not just me...maybe they are making some updates....or better yet preparing for the sites *grand opening*... anyways I am out of here...later all...
Posts: 1153 | From: northeast | Registered: Apr 2004
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posted
I enjoyed today after a slow week. Lets hope we can keep it up next week. Simply on a gut feeling I see at least 3cents next week. If that happens I guess we'll all be pretty happy.
Have a good weekend.
Alan.....
Posts: 108 | From: London , UK | Registered: Feb 2004
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posted
Anyone else use Freetrade and had a Margin Call (Day Trading Minimum Equity Call) show up on your account? I am new to Freetrade and only buy with cash never the margin so I am a bit confused. Diana? Amy clue?
Posts: 563 | Registered: Jan 2004
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posted
Read the margin rules in your freetrade account. That should give you the answer your looking for.
Posts: 444 | Registered: Feb 2004
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IF YOU SELL MSFT ON MONDAY AND NOT ON FRIDAY, THAT DOESN'T COUNT TOWARDS YOUR TOTAL.
NEXT WEEK ON MONDY DOESN'T START ANEW. WITHIN THE PAST 5-DAYS YOU BOUGHT AND SOLD ON WED AND FRIDAY SO MONDAY (NEXT WEEK) IS YOUR 3RD DAY TRADE. NO. 4 AND YOUR A PATTERN DAY TRADER.
PATTERN DAY TRADERS HAVE TO MAINTAIN $25,000 IN CASH OR EQUITY. EQUITY IS A MARGINABLE STOCK. MARGIN STOCKS ARE STOCKS OVER $5.00. IF YOU HAVE 5 MILLION DOLLARS IN ACCOUNT EQUITY AND IT'S ALL PINK SHEET STOCKS, THAT DOESN'T COUNT. YES I KNOW THIS IS STUPID.
FREETRADE WILL LIQUIDATE YOUR ACCOUNT, MEANING THEY WILL GO IN BEHIND YOUR BACK AND SELL YOUR STOCKS TO MAKE SURE YOU HAVE $25,000 IN THERE.
OR
YOU CAN'T BUY OR SELL ON MARGIN FOR 90-DAYS. IF YOU DO DEPOSIT THE $25,000 IN THERE, IT HAS TO SIT FOR 2-FULL DAYS AFTER DEPOSIT (3-DAYS TOTAL) BEFORE YOU CAN WITHDRAW THOSE FUNDS TO TRADE BEFORE YOUR PATTERN DAY TRADER STATUS IS REMOVED.
THIS DOES NOT APPLY IF YOU GIVE A DAY BETWEEN BUY AND SELL.
MON: BUY IPIX TUE: SELL IPIX AND BUY MSFT WED SELL MSFT AND BUY IPIX
AS LONG AS THERE IS 1-DAY BETWEEN BUY AND SELL, THE RULE DOESNT' APPLY.
MY ACCOUNT JUST GOT CROSS REFERENCED WITH ANOTHER ACCOUNT SO I JUST GOT THROUGH THAT PATTERN DAY TRADER CRAP.
DOESN'T MATTER IF YOU USE MARGIN OR NOT. IF YOU HAVE A MARGIN ACCOUNT THE RULES APPLY.
OilMan Member posted April 23, 2004 17:00 -------------------------------------------------------------------------------- Anyone else use Freetrade and had a Margin Call (Day Trading Minimum Equity Call) show up on your account? I am new to Freetrade and only buy with cash never the margin so I am a bit confused. Diana? Amy clue?
[This message has been edited by U4TSAF2 (edited April 23, 2004).]
[This message has been edited by U4TSAF2 (edited April 23, 2004).]
posted
Well since I do not use my margin and have no plans to buy on margin with freetrade for the next 90 days I guess I just sit and wait I have $270,000 all in non-marginable stock so I assume in 4 days when that settles all is clear. Or am I missing somthing?
Posts: 563 | Registered: Jan 2004
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posted
Effective September 28, 2001, the NASD enacted changes to day-trading margin requirements, which may affect your account.
The NASD provides that a pattern day trader is any account that executes four or more round-trip day trades within any rolling five-business-day period,
If activity in your account is classified as "pattern day trading," you may be subject to the following restrictions:
Minimum Equity Requirement – A pattern day trader's account must maintain a minimum equity of $25,000 at the start of any day in which day trading occurs. Pattern day-trader accounts that fall below the $25,000 minimum equity requirement should consider limiting day-trading activities to cash-only transactions until the minimum equity amount is reached in order to avoid a day-trading buying power call.
Day-Trading Minimum Equity Call – If your account has less than $25,000 equity and is identified as a pattern day-trading account, a day-trading minimum equity call will be issued. Pattern day-trader accounts that fall below the $25,000 minimum equity requirement should consider limiting day-trading activities to cash-only transactions until the minimum equity amount is reached in order to avoid a day-trading buying power call. Funds deposited in an account to satisfy a day-trading minimum equity call are subject to our 10-business-day hold policy with the exception of wires, which must remain in the account for two business days.
posted
I rolled 8 million shares at .015 and went back in at 10 million .012 guess they got pissed at the $120k purchase hehe OOPS!
Posts: 563 | Registered: Jan 2004
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posted
THEY DID NOT LIQUIDATE MY ACCOUNT BECAUSE IT WAS AN ERROR ON THEIR PART.
THEY HAVE TWO OPTIONS. LET YOU TRADE ON CASH-ONLY FOR 90-DAYS OR LIQUIDATE YOUR ACCOUNT TO FULFIL THE $25,000 EQUITY.
YOUR GONNA HAVE TO E-MAIL FREETRADE TO FIND OUT THEIR POSITION.
REMEMBER, IT DOESN'T MATTER IF YOU DON'T USE MARGIN MONEY, YOU GOT A MARGIN ACCOUNT AND THEREFORE THE RULES APPLY AND IN THEIR EYES ACCORDING TO THE RULES, YOUR $270,000 IN NON-MARGIN STOCKS DOESN'T MEAN SQUAT ACCORDING TO THE RULES.
OilMan Member posted April 23, 2004 17:31 -------------------------------------------------------------------------------- Well since I do not use my margin and have no plans to buy on margin with freetrade for the next 90 days I guess I just sit and wait I have $270,000 all in non-marginable stock so I assume in 4 days when that settles all is clear. Or am I missing somthing? IP: Logged
OilMan Member posted April 23, 2004 17:34 -------------------------------------------------------------------------------- Did free trade sell your stock U4?
[This message has been edited by U4TSAF2 (edited April 23, 2004).]
posted
Already sent email it should not take more than a week for them to get back to me if the past is any indication of response time. Figure odds are I will be sending a wire with $600 cash on account and $270k plus in non-marginable...... any bets hehe
Posts: 563 | Registered: Jan 2004
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posted
Just had Chinese for dinner and had 2 of the 4 fortune cookies. One said; You begin to appreciate how important it is to share your personal beliefs. Well I truely believe in the Gay & Lesbian TV Network. My wife thinks I turned Gay on her. Second one said; Patience is the key to joy.
posted
THEY CORRECTED THE PROBLEM. BUT AGAIN, THIS WASN'T DUE TO MY PROBLEM/DOING SOMETHING/PATTERN DAY TRADING/ETC.
THEY CORRECTED THE PROBLEM INSTANTLY.
OilMan Member posted April 23, 2004 17:56 -------------------------------------------------------------------------------- U4 what was the outcome on your Day Trading issue?
1BigTip Member posted April 23, 2004 19:05 -------------------------------------------------------------------------------- Just had Chinese for dinner
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