Fifth Avenue Forum

Sounds like freeriding to me. Those closed positions on the 17th wouldn't settle until the 19th. If I had to make moves like that and wasn't looking to fund my settlement fund with cash, I'd sell some of my VG index funds, since the settlement time is the same as cash - 1 day.

I never trust the 'available for trading' numbers, personally.

Well, the penalty, if I do it again, is the 90 days of being able to only trade Settled Funds anyway, so it's basically the same. I just want to know if I can enter positions with unsettled funds or not, if so that cuts down the wait times.

Probably worth a phone call to your brokerage just to be safe.

I could also just stop trading my entire account in one position. But that means I need to work twice as hard to make the same amount, which defeats the purpose of my trading strategy.

When you set up your account did you choose for it to be a cash account? If not, it is technically a margin account even if you don’t trade on margin. Because I don’t have the funds necessary to get through the pattern day trader rules I set my account up as a cash account, which means I can only trade with settled funds. Anything over the settled cash amount is immediately cancelled.

Using examples, based on your description and naughty boy letter, it seems like you sold a stock (TSLA), used that unsettled cash to buy a different stock (MUSK from broker IB), which you then quickly sold (through Schwab to someone at CF), and then possibly bought something else (ELON from broker TD).

So while your money from TSLA was on its two day journey to Schwab you used it to buy MUSK from some jabroni at IB. So now Schwab is fronting your unsettled cash so it can be sent over to IB. While you share of MUSK are making their two day journey to your Schwab account, you sold them to the jabroni at CF. Now Schwab needs to front your shares of MUSK because they have to start their two day journey to CF while still making the two day journey to your account. Then you decide to buy something else, so Schwab who is fronting your TSLA money so you can buy MUSK and is fronting your shares of MUSK so you can sell MUSK, is now being asked by TD to front cash for the shares of MUSK they are fronting so you can complete the retail trader trifecta of buying ELON. All of this volume likely exceeding the total value of your account, so they got sick of your **** and said it’s time for a naughty boy letter.

Concurring with NTP66, I would call and ask. If you didn’t set it up as a cash account they’ll typically let you move in and out of positions more quickly than settlement date as long as you’re not exceeding account value.

Thanks DD.

SENS has been one of the easiest stocks to trade in recent weeks... is it above 3? No? Buy it. Wait for a bit, sell it, come back and check on it later, repeat.

See? I'll sell on Monday and then come back to it later if all goes as planned....

My restlessness got me dinged for trading unsettled funds yesterday so I need to reevaluate things. I don't normally make that many trades in a day but I was in and out of a few things. I thought the T+2 restriction only applied to margin trading, in fact, the notice came from the margin trading team. But I wasn't trading on margin.

It pisses me off a little, because I have a balance called "Available for Trading" and I was going off of that. There is also an option on my platform to show "Settled Cash to Trade" which I now have activated.

What I don't understand is if I can buy more when Available has funds but Settled has no funds, so long as I don't sell the stock until the previous trade settled. Or do I have to wait for the Settled indicator to be full before doing my next buy. If it's the latter then I'm pinned to swing-and-longer trading.

It's called a good faith violation. You can buy with unsettled funds, but you have to wait for the previous sale to settle to be clear to sell. It only applies to cash accounts. Active Trader Pro shows both "Cash Available to Trade" and "Settled Cash" by default, and also warns you with a pop-up in the trade window if you try to sell a position that includes shares that were purchased with funds that haven't settled.

In a margin account, they float the settlement on margin so you effectively get instant settlement, but you have the day-trading restriction - unless you have $25K in the account.

HOFV seems like an interesting stock, maybe for day trading. I put an order in over the weekend, and it's up 20% today.

Can someone explain NFTs to me like I'm meow

Can someone explain NFTs to me like I'm meow

it is a bastardization of what makes art and collectibles valuable.

Can someone explain NFTs to me like I'm meow

it is a bastardization of what makes art and collectibles valuable.

This is you

Can someone explain NFTs to me like I'm meow

it is a bastardization of what makes art and collectibles valuable.

Yeah, I tried reading up on it this weekend, and that’s where I landed. It’s like a digital copy of something I guess? I don’t think it will have any long lasting impact, but who knows.

I still can't even come close to grasping it. Is this like the LeBron video highlight card?

Yeah, think that’s one.

Hello again, TSLA.

It's still not back to where I was perched on it.

the more I look into NFTs the less I understand


why would someone pay 28.9 Eth (~$50k) for this? https://opensea.io/assets/0xb47e3cd837d ... 93bbb/6708

why not?

Why does anyone spend money on anything beyond what's necessary for life?

idk

I mean I say the same thing about people that buy expensive art and then let it sit in a holding facility. What's the point of buying a thing if it doesn't have a functional or decorative use?

Like Tenet, where the guy has the "Goya" drawing and leaves it in the airport facility. I don't get the point of it

I don't get why people buy expensive baseball cards either, but here we are

then again I'm not super rich. Maybe my opinion would change

Ok that crypto punk sold me. How do I invest?

idk

I mean I say the same thing about people that buy expensive art and then let it sit in a holding facility. What's the point of buying a thing if it doesn't have a functional or decorative use?

Like Tenet, where the guy has the "Goya" drawing and leaves it in the airport facility. I don't get the point of it

I don't get why people buy expensive baseball cards either, but here we are

then again I'm not super rich. Maybe my opinion would change

Its simple. People like to have things of value and flex.

Just a fun little bow to put on my Schwab story from last week. Woke up to an e-mail this morning; they restricted my account anyway. Even though I haven't made any trades since that day (the 18th). I understand it's all automated but I thought it was funny anyway. As I mentioned, it doesn't change anything, now it's just not possible for me to trade with unsettled funds instead of me having to think about it.

Ok that crypto punk sold me. How do I invest?

made one just for you KC

https://opensea.io/assets/0x495f9472767 ... 5243357185

let me know if you want to buy for 0.00001 ETH or 17 US cents