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

To: Dan Swartzendruber who wrote (3732)	2/6/1999 10:25:00 PM
From: wily	Read Replies (2) \| Respond to of 7382

Her message said that she has $10,000 in her account and buys $20,000 in DELL, holds it overnight and sells in the morning. By holding the DELL overnight, and with 25% margin maintenance requirement, her excess equity the second morning is $5,000: .25 X 20,000 = 5,000 (MMR) 10,000 - 5,000 = 5,000 (Excess Equity) So, her daytrading buying power the next day is 2X excess equity, or 2 X 5,000 = 10,000. In her example she spends $20,000. That's $10,000 more than she is allowed. Some firms won't close your account until 3 fed calls have gone un-met (3-strike rule). MB gives you 0 strikes. Definitely keeps you on your toes. FWIW