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Strategies & Market Trends : Rande Is . . . HOME -- Ignore unavailable to you. Want to Upgrade?

To: warawls who wrote (51274)	5/3/2001 1:47:05 PM
From: eric012	Respond to of 57584

with the new regs: Yes. Apparently, if you fit the profile of a "pattern day trader" you will be required to open a pattern day trading account, which is a margin account with 25000 minimum (and 4 to 1 margin!) As it stands now, it takes days to clear your trades, so if you trade without margin (in a non-margin account) you would not have use of your money during the time you execute your sale and the time the cash returns to your account (once the trade has cleared). (in the in between time, in a margin account, the cash is "leant" to you immediately, so you can use it right away, subject to all the other rules.