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Would this be considered day trading.

post #1 of 8
9/28/08 at 5:55am
Thread Starter 
Would this be considered day trading if bought a stock at 3:30 pm and sold it the next day at noon.
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post #2 of 8
9/28/08 at 9:17am
No, you would be day trading if you bought at 12 noon and sold at 3pm the same day.
If you hold the stock overnight it is not considered day trading. You will have to wait until the proceeds of the fund are settled before you could use that money to trade again.
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post #3 of 8
9/28/08 at 10:05am
Thread Starter 
How long does it it take usually for fund to settle?
Thanks for previous answer by the way.
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post #4 of 8
9/28/08 at 10:44am
It is about 3 working days... think of it as waiting for the bank to clear a check.

BTW.... welcome to HSM!
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post #5 of 8
9/28/08 at 3:19pm
If you have margin enabled on your account, even if you don't use it, the proceeds will be available immediately with most retail brokers. So sign up for margin. You're not obligated to use it but there are many advantages.
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post #6 of 8
9/28/08 at 6:13pm
Thread Starter 
Alright thanks for the info so it seems like a margin account would be my best bet then. I guess i have to research this then. Thanks for everything guys
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post #7 of 8
9/28/08 at 6:16pm
It is...but if you don't keep track of your cash balance you could easily be trading with margin $$....And then before you know it you're in the hole and paying interest for it.
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post #8 of 8
9/28/08 at 6:30pm
Thread Starter 
What if i put in 3000$ and only use 800$ ona margin account. Will that be ok as long as i pay them. I mostly just want to be able to buy and sell stocks immediately instead of wanting to wait for the cash to settle.
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