Replies to post #212358 on Monk's Den

[SuperNova]

Sounds accurate to me. I will know more next week when my trading station is set up and Etrade account funded. :)

[BDkeg]

ahh that makes sense...thanks weave! So this shouldn't affect any of us since all of us should be using straight cash and not buying on margin anyways...excellent

[tdksp84]

Weave,

I think you got it correct. I went into Etrade's investor center for other reasons as you know and they laid it out pretty much as you stated. I agree that you shouldn't trade the F's on margin or more than the cash you have available.

For everyone else, I am going to Etrade to trade the F's. I have traded the F's in Fidelity and for some reason that I have yet to figure out, they shut my trading down today. I had no access to intraday funds and no buying power. I talked to 5 people and no one can explain to me what they did and on top of that I got three different stories from them. They told me to wait until everything settles from my trades and they will look at my account and let me know what is going on. Based on my conversation with these jokers, I won't be able to trade until next week. I will be transfering my day trading account into Etrade based on a discussion that I had with you and some others. I am waiting to see what is going on with my CDIV/EIGH/GRNO as I am not sure that I can do anything in that one account right now. I have a couple of others, but I would suggest not using Fidelity for daytrading.

PO'd doesn't even begin to describe how I am feeling right now.

[AtpAse]

I concur

If your buying with cash = non issue

thanks for spelling that out.
ATP

[toniehock]

This is sort of off topic, but you seem to be pretty knowledgable about the whole margin thing, and I am just really confused about it :P

On a margin account, don't you still need to wait 3 days for cash to settle after a sell before you can make another round trip with that money?
I was reading something last night where you could get your account suspended for 90 days if you made a round trip with unsettled money.

[birddd]

now,,,I just had a tantrum like the kid in the video earlier!!

Im shaking my head....OMG..