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Non-Tech : CYBERTRADER -- Ignore unavailable to you. Want to Upgrade?

To: Tanner who wrote (938)7/2/1998 11:52:00 AM
From: Colin Cody  Read Replies (1) | Respond to of 3216
 
Sandon, IMO "PROFESSIONAL DAYTRADERS" have a reputation, generally, as being a "problem" re: T+3. I'm not suggesting you're anything of the kind, just that the group as a whole tends to make some brokerages "uneasy" about extending credit in this frothy market.
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NASD regs REQUIRE a brokerage to review their customer's credit worthiness, and to act accordingly, subject to disciplinary action if they fail to exercise due care.
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Colin



To: Tanner who wrote (938)7/2/1998 12:09:00 PM
From: Darren  Respond to of 3216
 
That is what I am referring to....PROFESSIONAL DAYTRADERS...people who trade for a living...

No, there are specific rules defining a "professional" trader, governed by the SEC. This is a formal definition, not a title. Believe me, you don't want to be considered a professional; especially for tax purposes...


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