TD Ameritrade didn't really steal my money.

[watdahel]

Well not really. I sold all my shares today and I wanted to rebuy them back soon after for a lower price when I was warned that my account balance was lower than the cost of the trade. "What the hell", I said. Sure enough I only had $22 available for trading; where the rest went I have not a clue. Has this something to do with TD Ameritrade automatic money market sweeps? How am I suppose to day trade like this? How long is the hold up?

 

[Capt Caveman]

How much is available in your money market account? Transfer that money back into your trading account.

 

[EagleKeeper]

1) Contact them and ask.

2) Even though you sell, the funds have a set time to actually become available from the buyer.

 

[Slick5150]

Don't you need a margin account to use the money from a sale on the same day? Otherwise its held until the next trading day.

 

[manlymatt83]

Originally posted by: erwin1978
Well not really. I sold all my shares today and I wanted to rebuy them back soon after for a lower price when I was warned that my account balance was lower than the cost of the trade. "What the hell", I said. Sure enough I only had $22 available for trading; where the rest went I have not a clue. Has this something to do with TD Ameritrade automatic money market sweeps? How am I suppose to day trade like this? How long is the hold up?

http://www.zecco.com

 

[vi edit]

If you have a cash account (AKA non-margin) you have T+3 settlement before the cash hits your account.

If you sell, it typically takes 3 days for the funds to make it through clearing and settle before you can buy more. ***

Be warned, if you start "day trading", meaning more than three round trip trades in a 5 day rolling period you will be flagged as a pattern day trader. At that point you need 25k in equity in the account before you can open a new position.

***Exceptions apply. See dealer for complete details.

 

[watdahel]

I thought cash sweeped automatically is available for trading right away; no user action is needed to transfer from money market back to my cash account.

So with a cash account, if I use all my funds to buy and sell, all the money is frozen until the following day? How am I suppose to day trade like that?

 

[vi edit]

Originally posted by: erwin1978
I thought cash sweeped automatically is available for trading right away; no user action is needed to transfer from money market back to my cash account.

So with a cash account, if I use all my funds to buy and sell, all the money is frozen until the following day? How am I suppose to day trade like that?

Because it's a cash account.

If you want to "day trade", apply for a margin account.

 

[Chryso]

Ouch, problems like this could push your upcoming retirement beyond the 45 day free window.

 

[dethman]

noob.

 

[kranky]

Aren't you the guy who said a couple weeks ago that you made $70,000 in one day?

 

[PokerGuy]

Let me give you some good advice. If you have to ask these kinds of questions, you should *not* be buying and selling individual company stock shares, and you most definitely should not attempt to be a "daytrader"....

Not trying to be a jerk or anything, but that's the truth.

 

[krunchykrome]

For making $70k in one day, you seem pretty clueless.


Quoted from your other post: "tradin like theres no tomorrow"

:laugh:

 

[SSSnail]

Originally posted by: kranky
Aren't you the guy who said a couple weeks ago that you made $70,000 in one day?

He forgot to add "play stocks".

 

[Special K]

Originally posted by: kranky
Aren't you the guy who said a couple weeks ago that you made $70,000 in one day?

Also said "Can I make faster money with mutual funds?"

 

[alien42]

if the buy did not clear before you sold it (because you are day trading) then you will have to wait 48 hours for the cash to clear before you can use it.

 

[watdahel]

Ahhh, a Margin account is what I need. So if I sell, the funds remain immediately available for me to use? Why isn't this fact in the manual?

So as it stands my money is frozen for 3 days. In 3 days I'm losing the opportunity to gain $200K. That sucks. I better enable that Margin right away.

There sure is a lot of noobs in here. I'm glad I'm not one of them.

 

[mugs]

Originally posted by: Chryso
Ouch, problems like this could push your upcoming retirement beyond the 45 day free window.

Yeah, I don't see how he's going to hit $1 billion in the next month and a half.

Although you'd think someone who can make $79k in one day wouldn't worry so much about paying $10/trade...

 

[SSSnail]

So how much capital are you investing with?

 

[K1052]

Originally posted by: erwin1978
Ahhh, a Margin account is what I need. So if I sell, the funds remain immediately available for me to use? Why isn't this fact in the manual?

So as it stands my money is frozen for 3 days. In 3 days I'm losing the opportunity to gain $200K. That sucks. I better enable that Margin right away.

There sure is a lot of noobs in here. I'm glad I'm not one of them.

lolz

 

[watdahel]

Originally posted by: alien42
if the buy did not clear before you sold it (because you are day trading) then you will have to wait 48 hours for the cash to clear before you can use it.

How long does it take for a buy to clear?

 

[jupiter57]

Originally posted by: SSSnail
So how much capital are you investing with?

Knowing this clown, it's $25!

 

[kranky]

Originally posted by: erwin1978
Ahhh, a Margin account is what I need. So if I sell, the funds remain immediately available for me to use? Why isn't this fact in the manual?

So as it stands my money is frozen for 3 days. In 3 days I'm losing the opportunity to gain $200K. That sucks. I better enable that Margin right away.

There sure is a lot of noobs in here. I'm glad I'm not one of them.

Don't just open a margin account, start trading on margin! With your mad trading skills, using increased leverage will multiply your profits many times over.

 

[vi edit]

Originally posted by: kranky

Originally posted by: erwin1978
Ahhh, a Margin account is what I need. So if I sell, the funds remain immediately available for me to use? Why isn't this fact in the manual?

So as it stands my money is frozen for 3 days. In 3 days I'm losing the opportunity to gain $200K. That sucks. I better enable that Margin right away.

There sure is a lot of noobs in here. I'm glad I'm not one of them.

Don't just open a margin account, start trading on margin! With your mad trading skills, using increased leverage will multiply your profits many times over.

Margin accounts are for chumps.

Real ballers hit the Forex where they can leverage 100:1.

 

[watdahel]

I read a little bit about margins. From my extensive calculations the only way trading on margin is profitable is if the % gains is greater than the interest charged on the borrowed money, yes? If the gains is below interest then you're losing. If the gains is equal to the interest then you might as well not have borrowed the money.