Momentum Daytrading - Tricks of the Trade Message Board

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Strategies & Market Trends : Momentum Daytrading - Tricks of the Trade

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To: Bob Kim who wrote (2118)	9/18/2000 5:10:21 PM
From: Dan Duchardt	of 2120

Bob, Since then the online system has been updated to allow purchases and sales on the same day. You still have to pay attention to buying power, etc. Right you are. The question now is what is one's buying power? Are all sales immediately credited and funds released for use (some brokers say you can do this, and as far as I can tell Reg-T does not prohibit such activity), or is there still an end of day calculation that aggregates all buys and all the sells that limits ones daily buying activity. Under the old system, the cash available at the beginning of the day, plus proceeds from sales of securities held overnight was the maximum you could spend in a day. Any more than that was considered free riding, regardless of the order of the transactions. That limitation my still be imposed. I generally have no desire to trade that much in the account, but it would be interesting to know in case this market ever gets bullish again and I want to be more fully invested while using a portion of my cash for more active trading. Dan

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