NEWBIES BOARD

[Garyst]

Hi rookie. Good question. Nah, the 3 day settlement period just refers to once you sell a stock you have to wait for 3 days to have the funds available to purchase another (Settlement Period). Once you buy another, you could sell 10 minutes later and have no issues other than having to wait the additional 3 days again.

Here is what I would suggest and this is talked about on many Boards. I have my account set up like this at ET. Call them and ask for the Form to convert your account to a margin account. You will never trade on margin and there is nothing that will be different than now other than the fact that every time you sell your funds will be available immediately to reinvest. No minimum balance.... nothing different other than the classification of your account. I would do that as that way if we decide to get into something say before your 3 days is up you will be able to have the funds available. Takes about a week once they receive the Form.