Options for Newbies -(Help Me Obi-Wan-Kenobe) Message Board

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Strategies & Market Trends : Options for Newbies -(Help Me Obi-Wan-Kenobe)

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To: MJR who wrote (847)	5/28/1998 5:10:00 PM
From: wmwmw	Read Replies (1) of 2241

MJR, I appreciate your response. These a few days my broker had something really suck me. By playing options and BB stocks my account balance grew 30 times from last Thursday to this Tuesday. From yesterday my broker restricted my account, I could not make any trades. They want me to pay the incremental fund before I make any further trades. The money I had made need 3 days to come to my account, and because I used this money to continue to make trades before they arrived my account, I caused margin call.I don't know if other brokers do the same way but I traded with datek and etrade, never had such problems. If one daytrade options, it is very possible that one can make or lose large amount of money in one or two days, and if one can't use the increased money to make next trades, but has to wait 3 days, what is the use of a broker and clearing house? How can I trade with such broker? Does anyone have such problems? I don't know if next time I make trades I need to wait 3 days to use the incremental money, but this is not a way I can trade.

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