Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : DAYTRADING Fundamentals -- Ignore unavailable to you. Want to Upgrade?

To: TraderAlan who wrote (12241)	3/9/2001 11:20:10 PM
From: aldrums	Respond to of 18137

Alan, Thanks for the encouragement, I thought about this, but one of the things that irks me is I wouldn't be able to short in a cash account. Considering the macro momentum on the Naz is down and there doesn't seem to be an end in sight, a lot of my usual opportunities would not be available. Alex

To: TraderAlan who wrote (12241)	3/10/2001 8:35:54 AM
From: Knyyt	Read Replies (1) \| Respond to of 18137

Cash acccount,.. wouldnt that mean, If true what you suggested that they can not "Stop you from daytrading in a cash account", that you wuold not be able to short any stocks under that assumption. If true, i dont think that is fair. I hope someone/some org. steps up to fight this thing in the courts. Regards, Knyyt

To: TraderAlan who wrote (12241)	3/10/2001 2:29:05 PM
From: Allan C.	Read Replies (4) \| Respond to of 18137

Speaking of IB, what if I have more than 25k in my 'main' daytrading account, but I want to open an account with another brokerage (like IB) but I don't want to fund it with that much money. Will I be forced to open it as a cash account? (of course I will) Part of the reason I ask is I have always been a bit worried about the solvency of IB and hesitate to put a very large percentage of my funds there. They seem very professional and I have no reason to be suspicious, but bankruptcy seems to be in vogue these days. I don't really want to deal with that. I know they have 100k SIPC insurance on cash, but how long would it take to get your money back? (side note, why does SIPC insure 500k for securities and only 100k for cash? seems odd) I hope they can make money at a buck per hundred, but it seems like it would be pretty tight to me. Maybe someone with more experience in brokerage business models could make me feel better about it.... Allan