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

To: William S. who wrote (3661)	2/6/1999 11:33:00 AM
From: Tim Luke	Read Replies (4) \| Respond to of 7382

only in the same stock. lets say you own dell and then the next day you sell it...you can use the total amount of the sale to buy another stock (not dell) but you must hold it overnight...you can't day trade it .. rick faurot is the king of level 2 trading...i always pick his brain when i need help.....LOL...i hope he never catches on to how much i use him for his advise or he might start charging me..hehe

To: William S. who wrote (3661)	2/6/1999 11:41:00 AM
From: Dan Swartzendruber	Read Replies (1) \| Respond to of 7382

i found out today that even if you close out an overnight position for a profit you can't open another position and subsequently hold it overnight as this can generate a margin call. . .whoops, still learning Yes, I learned this lesson the hard way too. More specifically, if you use the funds from the overnight position to open and close another position intraday, you will get a margin call. It would be nice if the daytrading brokers provided any kind of tutorials and/or basic info on this so people didn't keep finding out the hard way.