Re: [RT] Three day hold rule problem

[Ben <profitok@xxxxxxxxxxxxx>]

they did the same to my wife

she did qqqq/QID

she just went and open margin

now buys 50% of account total, this way can sell, and buy next day

----- Original Message -----

From: Steven Booska

To: realtraders@xxxxxxxxxxxxxxx

Sent: Wednesday, October 01, 2008 10:05 AM

Subject: Re: [RT] Three day hold rule problem

I am running afoul of Etrade's 3 day "free ride" rule which requires that funds from a trade be cleared (requiring 3 business days) before a successive position is sold. I am not free riding by a long shot but have been taking large positions in QID and QLD with short trades and now have a 90 day "cleared funds only" lock on the account.

 

Is there a different way to do this? Is there a firm that clears in less than 3 days?

 

Steve

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