posted
as many as you want... just can't do more than 3 day trades in a 5 day period... unless you have more than 25,000 in your account.
Posts: 730 | Registered: Mar 2006
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posted
in a cash account, what you run up against is "settled funds." Yes, you can buy with unsettled funds, but not sell again until settled...otherwise you run into "free-ride" provision and may be asked to deposit more funds--or they'll liquidate some position to cover...
posted
yup--don't buy a day flipper, unless you're prepared to get dough into your account pretty quickly...and even then they may give you some trouble. Hasn't happened to me, but I get along with em pretty well
posted
i agree, bkmp is going to make alot of people rich
-------------------- i wish one day i would be rich but the wish is all in your hand!! Posts: 239 | From: New Jersy | Registered: Mar 2006
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posted
Get a Margin Acoount ASAP (as long as you have $2,000 Equity in your account). This will allow you to do 3 "Day Trades" in a five day period. From there work on getting your account value up to $25,000 so you can let the free rides subside!!!
500 into 100K...You Gotta' Believe!!!
Posts: 231 | From: Ohio | Registered: Mar 2006
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I'm a student and if I want to open a margin account do I have to have an income and good credit since your borrowing money from your broker?
Posts: 550 | From: MI | Registered: Nov 2005
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posted
Margin Account allows you to do 3 "Day trades" in a 5 day period, but you cannot trade pennies on a margin account. As far as credit and income , I don't know. I only trade on my money balance at all times!!!
500 into 100K...You Gotta' Believe!!!
Posts: 231 | From: Ohio | Registered: Mar 2006
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posted
actually, scottrade emailed me and told me it was 4 round trips in 5 days. I am going to check and see if i can find the email. but you need margin. at scottrade they do not run credit or anything, all you do is sign a paper and fax it in. that is all. you have to have an account balance of 2k.
Posts: 205 | Registered: Dec 2005
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posted
It's 4 round trips in a 5 day period that rolls. Which means if you did 3 round trips at the end of your first 5 day period and then did 2 the first few days of the second period you would be in violation. I use margin more for the fact that I can use the funds from a sell to buy something else immediately. I do very few round trips but a cash account with a 3 day waiting period makes it difficult to trade.
Posts: 3255 | From: Los Angeles California | Registered: Jan 2006
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posted
Same here Wally. I only use my money, not Scottrade's, a nd generally save my round trips for the extreme's... extremely fast moving stock...up or down. Once in a while Itry to turn money around quickly and burn up my round trips, but not often.
-------------------- Thanks Matto. Thanks Juice. Posts: 2945 | From: USA | Registered: Feb 2006
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posted
If I wanted to open a margin account at scottrade and I deposited 5 grand of my own money, how much would I have to borrow from scottrade to make the account qualify as a margin account?
Posts: 550 | From: MI | Registered: Nov 2005
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quote:Originally posted by wallymac: It's 4 round trips in a 5 day period that rolls. Which means if you did 3 round trips at the end of your first 5 day period and then did 2 the first few days of the second period you would be in violation....
Actually it is 4 day trades (round trips) in ANY 5 day period. The 5 day periods aren't consecutive. It is any span of 5 days that you commit 4 day trades in. I think that's what you were trying to say, but I just wanted to clarify that just in case it wasn't clear to someone.
Vagabond
[ May 29, 2006, 11:52: Message edited by: Vagabond ]
-------------------- You are what you do, not what you say! Posts: 473 | From: Where ever the next train takes me! | Registered: Apr 2006
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quote:Originally posted by hedfe: If I wanted to open a margin account at scottrade and I deposited 5 grand of my own money, how much would I have to borrow from scottrade to make the account qualify as a margin account?
You wouldn't have to borrow anything from them. If they qualify you for a margin account, you have one!
Vagabond
-------------------- You are what you do, not what you say! Posts: 473 | From: Where ever the next train takes me! | Registered: Apr 2006
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posted
I HAVE DOWNLOADED QUOTE TRACKER AND OPENED AN ACCOUNT WITH LOW TRADES.will i be able to use all of Q.t.'s bells and whistles? or will i have to pay for it?when i list lowtrades as my site ,will that provide all the info QT needs?is l2's incl or will i have to pay?
Posts: 65 | From: Texas | Registered: May 2006
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posted
Does anyone know the requirements to open a margin account at ameritrade, is it the same as scottrade?
Posts: 550 | From: MI | Registered: Nov 2005
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posted
2000 dollar min to open an margin account i have it and have no problems with it. go to tdameritrade.com it should answer all your Q.
Posts: 106 | From: SC | Registered: Dec 2005
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Vagabond
