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Strategies & Market Trends : Trading For A Living

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To: Dave who wrote (1085)	8/5/1998 6:53:00 PM
From: Allan C.	Read Replies (1) of 1729

I have a question about active daytrading in an IRA. As you saw from my previous post, JPR does not allow you to trade through your net worth more than once a day. (if I am understanding them properly) Is this correct? I have seen it many times by many brokers, but I still can't quite believe it. It would seem to me that a soon as you sell a position, your buying power should be released to you immediately. Even with the 3-day settlement rule, your "buy" should be ahead of your previous "sell". As long a you never own more money in stock than you have in your account, how can they prevent you from trading? This puts an IRA a a great disadvantage because if you put all of your money into a few position and they move against you early, (and you sell) you are stuck doing nothing for the rest of the day. And for those who say an IRA shouldn't be traded in, why not? It makes more sense to me to do your active trading in a tax sheltered environment and keep your "safe" long term investments in a regular margin account, which can grow tax free anyway -if you don't sell- It's the best of both worlds! Somebody tell me I'm wrong!!!

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