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Strategies & Market Trends : The Final Frontier - Online Remote Trading -- Ignore unavailable to you. Want to Upgrade?

To: TraderRick who wrote (2896)	2/8/1998 3:11:00 PM
From: mr.mark	Read Replies (1) \| Respond to of 12617

i trade with waterhouse securities using their webBroker site and a margin account. i would point out to you, trader rick, what i have recently learned. when checking (or calculating) buying power, be aware that there are two types... regular buying power, and daytrading buying power. like you, i was placed on restricted status for violating sec rules on daytrading. waterhouse is very helpful when it comes to holding my hand on these matters. easy enough for me to give you the formula for calculating daytrading buying power, but i'm not sure that it doesn't vary from firm to firm, as opposed to an sec reg. just thought that you should be aware, so that you can do some inquiries. best of luck, mr.mark

To: TraderRick who wrote (2896)	2/8/1998 5:39:00 PM
From: TFF	Read Replies (1) \| Respond to of 12617

TraderRick: You cannot buy the same stock via the NASDAQ Market Maker System(SOES) within 5 minutes of a previous purchase of that stock (assuming your prior purchase was for a quantity equal to the tier size for that stock). Conversely, you cannot sell short the same via the NASDAQ Market Make System(SOES) within 5 minutes of shorting that stock the first time. Note that this rule, known as the "5 minute Rule", does not prevent you from selling a stock (or buying a stock in the case of a short sale) you had previously bought less than 5 minutes ago. But you can buy a stock that you had previously sold or sold short (assuming the buy is not within 5 minutes of a previous buy in the same stock on SOES). Ask your broker for a summary of their particular rules. I know A. B. Watley carries a full explanation of the rules for entering orders on their ftp site. If you have any other questions ask away:)