Replies to post #153051 on Spongetech Delivery Systems, Inc. (fka SPNGQ)

[backtrax]

I do, but I stay out of the margin....The % rates are harsh, make a wrong call and UR out of the game..."There's Bold traders and Old traders, but few Bold, Old traders."

[Fishforbreakfast]

Hello. Miera16 It is very easy to change your account to a margin account.. It will allow you to trade without having to wait 3 days for funds to clear.

However I believe SPNG can not be used on margin because it is under most brokers margin requirements.

If you have a margin account and the account has Min $25,000 in the account you can day trade any stock as ofter as you like.

If you have less than $25,000 in a margin account you are going to be limited to no more than 3 day trades in any 5 business days..This is per SEC rules and regulations.

Again my best advise is to call your broker and ask them what their margin requirements are.. They do vary from broker to broker.. The Pattern day trader rule however is a SEC rule and applys to all.. If you day trade more than 3 trades in 5 business days you must have min $25,000 in your account.

Hope this info helps.. GLTA FFB-Fish BOO-Ya