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Strategies & Market Trends : LastShadow's Position Trading -- Ignore unavailable to you. Want to Upgrade?

To: chartseer who wrote (16978)	7/12/1999 10:49:00 AM
From: TonyM	Read Replies (3) \| Respond to of 43080

*OT* Online brokerage service Hi all, I just found out that my account has been put on restriction by my broker because of confusion on my part on how they settle trades. Apparently their system for updating cash accounts does not show the current buying power that an account has; trades are not updated until the settlement date 5 days after the inital buy, even if the position has been exited before that time. The real issue, in my mind, is that I was not notified of the situation until after they had put on my account on restriction. Just an email to call your account manager would suffice. When I asked if there was a place on the website that explained the rules, the manager answered "I'm not sure, but the best way to avoid this is to trade in your margin account." Does anyone have any comments on this service? Is this the nature of online trading today, or are there better services out there.