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Replies to post #4642 on Zeev's Turnips Patch-No Politics (ZEEV)

Replies to #4642 on Zeev's Turnips Patch-No Politics (ZEEV)
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FinnTroll

07/18/02 7:53 AM

#4646 RE: ragman #4642

I trade my IRA in a Schwab account and they seem to be pretty lax on these rules. On occasion an OB has even put me in a negative cash position which I corrected with a sale as soon as I noticed. I'm sure I'd get a cash call if I tried to carry negative cash overnight though.

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kron7777

07/18/02 7:55 AM

#4647 RE: ragman #4642

What about the new daytrading rules effective since last September? According to SEC for cash accounts (all IRAs are cash accounts) you cannot make more than 4 daytrades in any 5 concecutive days. If you do, your account will be closed.