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Misc Stock Market

I have no problem with a bunch of panicky petes allowing me pick up CPE for less than 50 cents, and I was hoping they would continue to knock down the price of PACD to sub-60 cents. Now PACD up to .79.
 
My Charles Schwab account blocked me for day trading activity yet having a balance under 50k . Said I made to many complete trips within a five day trading period

Well if JNUG and all my oil had hit as planned the 50k might not be an issue


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Storm5 said:
Jimmy , thoughts on JDST it’s almost at a 52 week low


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I got in at 1.40..small play but damn GDXJ is just out of control today. Hoping for a sharp downswing before close
 
Storm5 said:
My Charles Schwab account blocked me for day trading activity yet having a balance under 50k . Said I made to many complete trips within a five day trading period

Well if JNUG and all my oil had hit as planned the 50k might not be an issue


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Did you have to open a new account? Lol I’m pretty sure I’m one infraction away from the same fate lol. What do they expect? Do they want you to hold and take a loss until they tell you have their permission to sell? I think that rule is absolutely ridiculous. I think it’s to keep us in our place honestly
 
Storm5 said:
My Charles Schwab account blocked me for day trading activity yet having a balance under 50k . Said I made to many complete trips within a five day trading period

Well if JNUG and all my oil had hit as planned the 50k might not be an issue


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I thought day trading it was a minimum of $25,000 or is the $50,000 just for Charles Schwab?
 
Jimmy Hypocracy said:
Did you have to open a new account? Lol I’m pretty sure I’m one infraction away from the same fate lol. What do they expect? Do they want you to hold and take a loss until they tell you have their permission to sell? I think that rule is absolutely ridiculous. I think it’s to keep us in our place honestly
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They give you a one time slap of the wrist so it was lifted . If it happens again the account is frozen until I bring it to the 25k or 50 k requirement which ever it is .

Said I can buy as many one day and sell them the next day with no issues . It’s the buying and selling same day more than three times within the five consecutive business days that’s an issue


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Y'all can't freeride the market, lol. You have to wait until funds settle before you use them to buy the security, unless you have a cash position large enough to cover the trade.

If you have $100 and you buy $100 worth of Ford, you now have $0. When you sell $100 of Ford, you now have $100. So far, so good?

Now, if you turn around and buy Ford again with any of that money before the previous sell trade settles, that's a no-no. However, if you had additional cash reserves beyond the $100 that you got from your sale of Ford, and you use THOSE to buy Ford, then you're good.

You have to allow time for trades to settle if you're going to use that same cash to move in and out of the security.
 
Storm5 said:
They give you a one time slap of the wrist so it was lifted . If it happens again the account is frozen until I bring it to the 25k or 50 k requirement which ever it is .

Said I can buy as many one day and sell them the next day with no issues . It’s the buying and selling same day more than three times within the five consecutive business days that’s an issue


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Yep, that's a problem too.
 
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