Replies to post #119802 on *SCALPSWINGSTRADDLE* ($$$)

[Ogclip ©]

I think they suspend your account for 90 days.. Only closing transactions.

[THE_YAK]

You got nailed.

[apage]

your fraked for 90 days unless you can add to your account all the money you traded on the day you got that msg.

[Ogclip ©]

Time to find a new broker..

[beachcomber1]

Contact the Margin Dept & claim you made a mistake. They will say that's there's nothing they can do about it & restrict you for 90 days. Tell them, you will have no choice, but to take your money elsewhere & close that account. They should let it slide if you have a good amount of cash in there.

GL

[Ogclip ©]

Now that i think about it.. CAll them up, and ask to get a courtesy reset on your day trades..

I think they allow for you to do that ONCE!

[MoneyArmedInvestors]

Why are you using e-trade to begin with?

Geez. That broker sucks balls.

[Casprs1]

Looks like all the answers you've received are wrong. They just restricted your account to cash only transactions for 90 days. It's not their rule but the SEC's rule. If you sell a stock you can use that money in 3 business days as that's what it takes to settle the funds. If you sell options it only takes one business day. So basically you can sell options today and use the money tomorrow to buy something else.