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Captn_Rob

05/13/12 5:29 PM

#4082 RE: allstocks1 #4080

wow. You either need a new broker or stop playing pennies.
Even though I am cash only as well, I can make up to 5 day trades a week without being considered a "day trader" and then being subject to a whole new set of rules.
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KnowProphet

05/13/12 5:44 PM

#4086 RE: allstocks1 #4080

That's not how it works in a cash account- you can buy and sell the same day.

An even if it would have been locked up for 90 days, at least you'd still have it.

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Paul Wall

05/13/12 6:07 PM

#4093 RE: allstocks1 #4080

Bro you should have just sold. Call up the broker and play dumb. Or worst case open a new account and transfer. If you tade and don't have the option of selling as soon as you buy, that is just plain ridiculous.
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frankb325

05/13/12 6:44 PM

#4103 RE: allstocks1 #4080

i trade on a cash acct also. on a 90 day restriction it doesn't mean you can't trade for 90 days. all it means is if you use all your cash on a trade and you buy and sell the same day you have to wait 3 days for the trade to clear until you can use funds again. trust me, i'm always on a 90 day restriction,lol
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Ripdog7570

05/13/12 6:45 PM

#4105 RE: allstocks1 #4080

What is the 3 day rule as far as trading....ALLSTOCKS1? Sorry.....newbee rookie here. LOL
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softballdaddy

05/13/12 6:49 PM

#4110 RE: allstocks1 #4080

Until recently I was cash account...you can buy and sell in same day as long as monet has settled...FWIW, I would never commit on any penny for 3 days w/o the option of selling, these things are to volatile