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.

Non-Tech : TERRA NOVA TRADING -- Ignore unavailable to you. Want to Upgrade?

To: Shoot1st who wrote (11)	11/29/1998 12:30:00 PM
From: JerryPutnam	Read Replies (1) \| Respond to of 42

The day-trader margin rules are complicated. Trading accurately? It is not against the rules to get a margin call. The margin agreement you signed is the legal document required to open a margin account. Try reading that thing sometime, it is loads of fun. As I said before, we wrote this up to help explain a complicated calculation. The trickiest part of the margin calculation involves overnight positions in a day-trading account. It requires the broker dealer to be a mind reader in order to calculate. The mind reading comes in when you trade out of the overnight and back in again and than hold it overnight. If we treat this as a closing trade and give you back your buying power, and you get back in again you can get a margin call. Also, as I said before, your broker at the X has been the primary source for this info. We have not gotten word out to everyone about our site, because as you can see it is not complete yet. SW does not require anything from X, it is TNT's responsibility. SW just clears the trades and holds onto the $. They do a few other things but the above is what concerns you. TNT says E-mail will be sent when a call is generated, I have not seen where SW says that. The reason you have never received an E-mail margin call is because we have not put the service into production yet. This is another example of why we have not made a big deal about the existence of the web site yet. No conspiracy here, they are not stopped because they are not sent yet. See above. Lots of people get margin calls. They are a normal part of having a margin account. Again, I don't know what an overnight bank is. Southwest maintains bank accounts around the Country where client funds can be deposited. I don't know what an over night bank is, I do not get paid anything either. SW does not to my knowledge get paid anything from the people at X. Also, X is not in any contractual arrangement with SW, TNT is. I just killed the dog and ate it for breakfast.