That's with everything? Including Robin Hood, ect?
Down but about to rebound? Only stock picks
- Thread starter morris
- Start date
That's with everything? Including Robin Hood, ect?
Tug life
I stay fly like a guillemot
If you make more than 3 day trades in any single platform without having a 25k balance you will be marked as a pattern day trader and you'll be barred from trading for 90 days.
Some people get around this by using multiple platforms because you get 3 for every brokerage
Ah, now shyts starting to make sense.
Also make sure you have the settled cash in the account to cover the trades. Don't go selling company A and using the unsettled funds from that to buy company B. It takes 3 days for funds to settle. Once you buy company B if you used unsettled funds for it and sell that before the transaction settles that's a good faith violation. 3 good faith violations in a year and your account is locked for 90 days.
So basically either have 10 trading apps you use regularly or don't get into the day trading game without 25k.
Good faith violations exist to mostly stop small time traders with limited funds from day trading without using margin accounts IMO. If you buy a stock for $100 a share for 10 shares and the next day it blows up and those shares are worth $200 a share and you sell all 10 shares you could in theory take that money and invest it in another stock and have that one blow up and sell it and repeat. Good faith violations keep you from doing that unless you have settled cash in your account to fund the next trade or if you do that you're then stuck with trade 2 for 3 days.
I took a good faith violation cause I bought Zillow and around the time Uber was going IPO I sold out of Zillow and bought Uber on IPO day. It was obvious on Uber's IPO day the stock was going nowhere so I sold it for a small profit.
Rigby.
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I was reading Cann earlier and based off the news and the analyst ratings (plus where it was at), I feel I should buy. You think a market buy is a good play here or should I seek for another dip?Goofy nikkas think you not gone flip off a 1.95 cannibus stock. They not God Tier like us.
win some lose some. I lost 20% on this stock today. I gained 10% on Pinterest stock. That's the way it goes sometimes
Market buy at 1.95 but it could dip as low as 1-1.50 before it climbs back up into the 10's.
You could have to wait 1 year or 5 years or who knows how long for a crash. As a dividend investor I'm not trying to sit out the market indefinitely waiting for a crash. The market has crashed before and is at all time highs now so you'll still make gains overall even buying now.
While I was responding to a poster talking about waiting for a market crash, the idea behind it applies to most investing/trading. I’m still new but iv’e ventures down the swing trading route - and my biggest wins stem from me holding cash that I wanted to use on some stocks, to buy others that were primed for a run. The idea probably doesn’t apply to you as you invest for dividends - but say that philosophy to people bag holding I’m sure they would agree. Cash is often your best position.
High-yield savings?
If you’re buying stocks at the proper valuations when they’re low values then it still wouldn’t matter. If the company is worth more than what it’s selling for and the fundamentals are strong even if the market crashes it will recover. Dollar cost averaging is superior to waiting for a crash unless you have inside info. You can’t time the market unless you have that info. You’ll never know the bottom or the top. Having cash reserves is smart but it’s not really a good idea to sit out entirely.