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01/31/17 5:00 PM

#4059401 RE: klce #4059393

yes with TDAmeritrade they allow you to trade penny stock over and over with the same cash etrade does not no idea why.
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Shepo69

01/31/17 5:20 PM

#4059410 RE: klce #4059393

Just to clarify. Depends when you bought it. With a margin account, your funds from selling a stock will be available to use right away. But whether it counts as a day trade depends when you bought it.

Example 1 Monday you by 1000 shares XYZ in the morning, you regret your decision and sell them end of day. You made a round trip ( buy / Sell) in one day, so that is a day trade.

Example 2 Monday you buy 1000 shares of XYZ, you regret your decision, but hold them over night and sell the next AM. That is NOT a day trade.

In either case, your $$ from the sale will be available right away ( if you have a margin account).

If you have less then 25K in your account, and you do more then 4 day trades in a 5 day period, you get flagged as a "Pattern day Trader" and they will spank you by taking away your ability to get immediate settlements for a period of 90 days i think.. then you can get it back.

If you have over 25K in your account, you can buy and sell ( day trade) as much as you want. ( please correct me if I'm wrong )

So get a margin account, just be careful about when your selling. Only sell the same day if you really really need to. ( stock is tanking or on the flip side, it runs big just after you buy and you want to take profits because you don't think it will hold up over night) Try to hold over night if you can. I try to avoid "Quick Flip" type plays and promo type plays. While you can make some $$ on a promo or pump play if your timing is right, you need to get in and out quick usually, and holding over night is a bad idea. So use your day trades wisely !!