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Khane

Khane

Got something right about marriage
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Mist said:
So uh, I couldn't sell my ETHE shares because they hadn't settled yet, do I just need to add more cash to my account to avoid that?
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Have you thought of switching your accounts to Robinhood? :emoji_rocket:
 
Sanrith Descartes

Sanrith Descartes

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Khane said:
Seems reasonable. What's reddit saying about this?
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Invest All Time High GIF by ProBit Exchange
 
Fogel

Fogel

Mr. Poopybutthole
13,147
52,086
Volto! said:
What would be a good entry point for MTTR at this stage of the game?
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Nobody knows, it moves 5-20% for no reason on any given day. I'll be selling puts on it instead of buying shares, best way to protect yourself from larger swings instead of standing on the sidelines
 
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Mist

Mist

REEEEeyore
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Big Phoenix said:
Charlie Schwab will let you sell unsettled funds, but then they send you a dont do that again email.

But you need a margin account if you wanna just trade nonstop.
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It would have let me sell, but it would be a Good Faith Violation.

That's why I figured I just need more cash in my account.
 
Jysin

Jysin

Ahn'Qiraj Raider
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You can take a Good Faith Violation 3x a year with only a "dont do it again" warning.

Double check with your broker, but pretty sure it's 3x.
 
Khane

Khane

Got something right about marriage
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Is it really called a "Good Faith Violation"?

Is that what Wall Street called all the tranches and toxic assets leading up to 2008?

God I love this country.
 
Borzak

Borzak

Bronze Baron of the Realm
25,463
33,217
Big Phoenix said:
Charlie Schwab will let you sell unsettled funds, but then they send you a dont do that again email.

But you need a margin account if you wanna just trade nonstop.
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Fidelity does the same. Two strikes and you are out unless you upgrade accounts and have something to cover the difference.
 
Khane

Khane

Got something right about marriage
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"Hey listen, we'll let you do this... a few times... but after that you're a liability who might kill yourself and sue us. But we want our cut first. But we won't actually stop you from doing it in the first place."
 
Kiroy

Kiroy

Marine Biologist
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Khane said:
"Hey listen, we'll let you do this... a few times... but after that you're a liability who might kill yourself and sue us. But we want our cut first. But we won't actually stop you from doing it in the first place."
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Someone smarter could answer but I think it's more about the books and who's money it is - if you buy something with unsettled funds you just bought something with their money, not yours. Loans aren't free, even if only for a day or two. Maybe i'm wrong.

edit: wait I am wrong, they do let you buy something with unsettled funds you just can't sell it until they settle. Similar idea though, since if you sell the thing before the funds settle you've just duped money in the system even if it's for a small period of time.
 
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Khane

Khane

Got something right about marriage
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14,007
Kiroy said:
Someone smarter could answer but I think it's more about the books and who's money it is - if you buy something with unsettled funds you just bought something with their money, not yours. Loans aren't free, even if only for a day or two. Maybe i'm wrong.

edit: wait I am wrong, they do let you buy something with unsettled funds you just can't sell it until they settle. Similar idea though, since if you sell the thing before the funds settle you've just duped money in the system even if it's for a small period of time.
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It was a Robinhood joke. In poor taste. Because I'm a dick, and also because I loathe how our financial institutions have continued to be allowed to operate.
 
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TJT

TJT

Mr. Poopybutthole
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Khane said:
It was a Robinhood joke. In poor taste. Because I'm a dick, and also because I loathe how our financial institutions have continued to be allowed to operate.
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Kinda like how Etrade/Fidelity/etc will detect if you're swing or pattern trading if you execute more than your limit a day and demand you upgrade to the more expensive account that lets you do this?
 
Jysin

Jysin

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TJT said:
Kinda like how Etrade/Fidelity/etc will detect if you're swing or pattern trading if you execute more than your limit a day and demand you upgrade to the more expensive account that lets you do this?
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That is a nationwide FINRA rule for Pattern Day Trader. Same rule applies across all brokerages (US based).

www.investopedia.com

Pattern Day Trader (PDT): Definition and How It Works

A pattern day trader (PDT) is a regulatory designation for traders who execute four or more day trades over a five-business-day period in a margin account.
www.investopedia.com www.investopedia.com
 
Sanrith Descartes

Sanrith Descartes

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Its almost like really wealthy people abuse the algos so they can make money off their programmed moves.
 
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