TD Ameritrade problem?

[pokerg1]

How come when I make a sell, I have to wait a certain amount of days before I have available cash to trade again?this means i cant trade more then once in a day if i wanted to...anyone know if Zecco have this problem?

[ItalianFX]

It's because they need to wait for the funds to clear. Just because you "sell," it doesn't mean that the paperwork and everything else is instantly transferred.

If you want to trade continuously, look into getting a margin account, or find more money and don't put all of your money into one investment.

[pokerg1]

paperwork.....why is it that my funds were clear when i made a trade before instantly?? robot did paperwork??

[stephenNUTS]

[ QUOTE ]
It's because they need to wait for the funds to clear. Just because you "sell," it doesn't mean that the paperwork and everything else is instantly transferred.

If you want to trade continuously, look into getting a margin account, or find more money and don't put all of your money into one investment.

[/ QUOTE ]

In a cash account,your funds are technically available in T+3

Please list the specifics and I can help/explain better:
Are you looking to withdraw your funds?
Do you want to enter a new postion?

Stephen

[ahnuld]

yeah, this is weird, but I have a margin account so it never comes up. I dont use the margin but it gives me room to go a bit over/under my total portfolio and helps with this particular situation.

[pokerg1]

Stephen, say i have $1000 and buy stocks monday morning and sell monday afternoon. i wont be able to trade tuesday and i have to wait like 3 days before i can trade again..if i have a margin account will this 3 day waiting period be gone??

[stoxtrader]

[ QUOTE ]
Stephen, say i have $1000 and buy stocks monday morning and sell monday afternoon. i wont be able to trade tuesday and i have to wait like 3 days before i can trade again..if i have a margin account will this 3 day waiting period be gone??

[/ QUOTE ]

changing to a margin account should solve this issue. I think the reason for it is because when you sell something your broker does not recieve the cash until the trade settles, which is date of the trade + 3 business days.

[pokerg1]

so will i be able to trade without waiting 3 days or do i have to buy stocks using say with a margin of 2k, 1k for trades?? do i still have to wait for margin cash to settle??

[mmctrab]

[ QUOTE ]
so will i be able to trade without waiting 3 days or do i have to buy stocks using say with a margin of 2k, 1k for trades?? do i still have to wait for margin cash to settle??

[/ QUOTE ]

You can trade without waiting the three days as long as you have margin left. You should definitely open a margin account even if you never use the margin.