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Strategies & Market Trends : Momentum Daytrading - Tricks of the Trade -- Ignore unavailable to you. Want to Upgrade?

To: Dan Duchardt who wrote (2079)	2/13/2000 3:28:00 PM
From: Wayners	Read Replies (1) \| Respond to of 2120

I think you're broker is wrong. As long as you are not free riding you can daytrade a cash account. To prove the point, next time that occurs, put in the order to sell anyways and see what happens. Unless you buy it back later in the day, you are not free riding and are not in violation of notice 98-102. If you like to dole out punishment lets say he won't allow the trade, then you send a complaint to NASD Regulation--you can fill out a simple form at their site online and turn your broker in. I bet NASD Regulation makes your Broker fulfill the trade even if your broker has to take a loss on the trade. The complaint should be launched as soon as possible and within 5 minutes of learning that the trade was rejected so that you would mitigate potential damages to your broker.