BOUNCE

[Buckey]

yeah wasn't good really there is a story in my profile that is a horror story

SO any day normally say I had 15k in my non margin account in equities ( not cash) I could buy stocks up to 15k and the settling instructions were to bank account no to brokerage account - this is like 2000 2001. so say I had $10k in account in equities and I placed a $3k order. even though cash balance in acct might be $20 I could execute buy but I needed to flatten position by the end of the day or sell something else and net for the day settled to bank - The term might be called "free riding"

so obviously if I wasnt flat the net amount for the day went to my bank to settle t+3. and back then it was so much easier to kyte cheques LOL. So I would get myself in a pickle occassionally but I had other banks. they didn't have much money either LOL but I could figure it all out. many a day the last 5 minutes were crucial for me. at some point 12 years ago they cut me off from that but by then I wasn't trading like crazy with money I didn't have.

Id write a book on all of it but I cant remember most of it LOL the story is very good

ah here it is
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=145064363

When I tell this story whilst drinking to someone who is a risk taker it is really hilarious. so it was actually more money that I stated. and I mention my wife might leave me. we had a 1200 sq ft house then a baby split 2bed up and one down. actually had 1/2 bath down. I paid 80k for it in 97. I had just sold my last house for 220k in a much higher market.