Zecco

[rlordi20]

Darn, okay I understand. For some reason I thought the 4.50 was only applied to when you sell, not when you buy and sell, making it 9 dollars total. Actually, looks like I lucked out on my mistake. Apparently October is free trading for Zecco customers.

I just set up a deposit of 1400 dollars. I had 1200 in there this morning. So would that mean that I have 2600 (so i qualify for the 10 free trades) or do i need to have 2500 actually in there (that means waiting for my 1200 to come back on monday from my trade.) Also, when u say I can do like the 3 trades in 5 days, is that buying AND selling? Or can i make a bunch or purchases, but not sell them all?

[jotuk6771]

Darn, okay I understand. For some reason I thought the 4.50 was only applied to when you sell, not when you buy and sell, making it 9 dollars total. Actually, looks like I lucked out on my mistake. Apparently October is free trading for Zecco customers.

I just set up a deposit of 1400 dollars. I had 1200 in there this morning. So would that mean that I have 2600 (so i qualify for the 10 free trades) or do i need to have 2500 actually in there (that means waiting for my 1200 to come back on monday from my trade.) Also, when u say I can do like the 3 trades in 5 days, is that buying AND selling? Or can i make a bunch or purchases, but not sell them all?

Yes you are lucky, trade is all free at Zecco this month!

You can buy actions(shares) within the limits of your buying power as much as you want, but you cannot buy and sell the same day more of 3 times by 5 working days of market.

Note that if you have no margin account, you will have to wait 3 days so that your money(silver) is credited after every daytrade


Note also that if your account equity falls below $2500 by the fact of a fall of your shares, the $4.5 expenses are again directly billable, it is another reason for opening the margin account which you preservation more easily at level because the margin is taken into account in the equity

Open a margin account , but don't excced your own money for purchasing is ok   

[rlordi20]

Ok, so... once i get 2500 cash in the account, it will have a margin of 5000 correct? So my total net equity would be 5000, which is way above the 2500 for the 10 free trades. But say I buy a few stocks today, I am able to sell them all tomorrow and that does not count towards the 3 trades in a 5 day window, and i would be able to repeat that as much as I want without being penalized correct? But since I am doing small stocks, i still have to wait 3 days after the close of the day I sell on, in order to re-establish my buying power.

[jotuk6771]

Ok, so... once i get 2500 cash in the account, it will have a margin of 5000 correct? So my total net equity would be 5000, which is way above the 2500 for the 10 free trades. But say I buy a few stocks today, I am able to sell them all tomorrow and that does not count towards the 3 trades in a 5 day window, and i would be able to repeat that as much as I want without being penalized correct? But since I am doing small stocks, i still have to wait 3 days after the close of the day I sell on, in order to re-establish my buying power.

Yes, that's right ,  but if you don't  exceed your own money , in a margin account, you will never need to wait 3 days...

Please, did you ask for a margin account already or you just open a simple account?  Because i will be very interested to know if they give to you the margin without you're asking for ......

[jotuk6771]

To explain better $4, you can on a margin account buy an share from $4 minimum for a double purchasing power that your cash amount personal, but if your share falls, you are going to lose the percentage of the fall, + the interest rate of the granted margin.

You cannot double your stake on an share under 4 $, you can only bet your own money

( *+ interest due to the brocker )
And of course if the stock fall more than 50% AND you have been double your entire own cash  to margin  , you will lose your entire money and you will generated a DEBT to your brocker.....

Correction:  They can sell your shares at the market  before you generate a too  big debt 

[rlordi20]

I think it was an option when I set up my account and I think I checked that I would like one. I wasnt sure what it was, so I clicked to have it anyway. I talked to the lady on the phone this morning, and the way she explained it to me was yes I have a margin account, but it is only applicable to stocks over the 4 dollar mark. When I click on my accout on Zecco...

Net account Value $1,200.00
Available For Withdrawal $1,200.00
Margin Purchasing Power  $0.01


See, it does show there is a margin, and it shows that its all gone because I am waiting for my buying power to come back. If my deposits go through tonight, hopefully it looks a lot different tomorrow. I requested a deposit of 1400... So I am guessing it will say...

Net account Value $2,600.00
Available For Withdrawal $2,600.00
Margin Purchasing Power  $5000.00



But yeah I realize that I would only be able to spend 1400 on stocks under 4 dollars until I get my other cash applied.

Haha, is any of this making sense?

[jotuk6771]

No,  i think that tomorrow you will see net account value 2600, avaible for withdrawal  1400, margin power 2800 , buying power 2800 but 1400 in reality if you trade a stock under 4 $

[jotuk6771]

Not sure that your 1200$  will be  settle already tomorrow, but i wish for you

[rlordi20]

Ohh ok, I see. So the margin wont jump up to its highest point until the cash is actually available. Good deal. You really cleared up a lot of concerns that i had with the site, and hell, trading in general lol. I had some extra money left over so I figured I would try to invest it. If I just have it sitting around at home, I will spend it.

[rlordi20]

Not sure that your 1200$  will be  settle already tomorrow, but i wish for you

Yeah, I dont know. It said that If i made the request before 1pm pacific time, that it might process the next day. They also said that they reserve the right to hold it for 5 days. Im just hoping it makes it in there. I did do it before 1pm pacific time.

[rlordi20]

"Incoming ACH transfers initiated before 1:00PM (PST) are usually processed the same day. Your Buying Power is usually updated the next day but any deposit may be held at the discretion of Zecco Trading for up to five business days until verified as cleared. "

[jotuk6771]

Ohh ok, I see. So the margin wont jump up to its highest point until the cash is actually available. Good deal. You really cleared up a lot of concerns that i had with the site, and hell, trading in general lol. I had some extra money left over so I figured I would try to invest it. If I just have it sitting around at home, I will spend it.

Follow the Doc trades, he can make wrong sometimes too as everybody, but it's the best way for you to learn and win money, especialy in this distressed Market!  

I did not follow him in Lehmq when he sold, Now i lose a lot    

[jotuk6771]

"Incoming ACH transfers initiated before 1:00PM (PST) are usually processed the same day. Your Buying Power is usually updated the next day but any deposit may be held at the discretion of Zecco Trading for up to five business days until verified as cleared. "

Well, i think maybe you cannot trade tomorrow, but friday will be ok

[rlordi20]

"Incoming ACH transfers initiated before 1:00PM (PST) are usually processed the same day. Your Buying Power is usually updated the next day but any deposit may be held at the discretion of Zecco Trading for up to five business days until verified as cleared. "

Well, i think maybe you cannot trade tomorrow, but friday will be ok

 

Lol I hope I can. I dont want the doc to make a move without me! Im gonna gonan cross my fingers and hope it is in there when I wake up tomorrow.

[jotuk6771]

 

Keep cool      , if you miss a trade, it will not mean that your are out of the challenge.