Zecco

[Shali]

You cannot make unlimited trades. If you make more than three round trips in a five day period, they can freeze your acct. Until you get the $25K. This is a rule of the SEC. Also, be very careful when using margin.

[jotuk6771]

You cannot make unlimited trades. If you make more than three round trips in a five day period, they can freeze your acct. Until you get the $25K. This is a rule of the SEC. Also, be very careful when using margin.

Well said ¨!      Make more than 3 daytrade in 5 days and your account will be locked 90 days!!!!  During this LONG time you can only sell!!! 

Be care full to not generated a daytrade margin call  ( see my first post in this topic), because after, you must deposit cash for the amount of the call in 5 days business, 10 maximum, until they lolock your account for 90 days same!!!

[rlordi20]

Thanks. Honestly, Im not going to use margin at all. I plan on following the doc, but i was gonna take a couple hunder dollars (that i can afford to lose) and try to research and invest on what i feel is a good purchase.

[EJC]

Well said ¨!      Make more than 3 daytrade in 5 days and your account will be locked 90 days!!!!  During this LONG time you can only sell!!! 

Be care full to not generated a daytrade margin call  ( see my first post in this topic), because after, you must deposit cash for the amount of the call in 5 days business, 10 maximum, until they lolock your account for 90 days same!!!

Well, jotuk..You just saved me a lot of anger! I just played a bit with my zecco account and did 2 day trades in two days, yesterday was the third day and I decided to keep my shares until today at least - after reading your post! You see : It came in just in time!!! I wondered what Doc meant with the "stupid day trader pattern" ... Now I know! And, yes: it definitely IS stupid!! In Germany we don't have any regulations like those. Hell, I have to push my small account to 25k $ - and fast  THX again, jotuk, for sharing!

[Dr PennyStock]

EJC,

That rule came after the September 11 with the excuse that the terrorists had profits shorting stocks before the attack, but, the terrorists are the guys from the SEC, what one thing has to do with another???

And the terrorists has just small accounts??? With this they are just punishing the small traders and investors, nothing else, the guys that have much money can do whatever they want, the poor guys can't make money, this is pure and simple financial terrorism by the guys from the SEC, the MF's.

[EJC]

Doc, what you say is just unbelievable!! Even if that's a bit off-topic, but, if this really is the reason for building up that law - well, I don't even know what to say! Would be so funny if it was a joke! 'Thanks for your comment!

[Vegas]

Doc, what you say is just unbelievable!! Even if that's a bit off-topic, but, if this really is the reason for building up that law - well, I don't even know what to say! Would be so funny if it was a joke! 'Thanks for your comment!

Actually it is a very true event EJC... The day before 911, the two airlines involved in the attack were shorted to the tune of millions of dollars... What is sad is the fact that 911 was a bogus event created to serve the elitist...

[EJC]

Hard stuff.. Didn't know that either, Vegas.. It's sad to see what power and greed can make out of us people.

[rlordi20]

Ok, So my account did get updated, but it confuses me further..

Net account Value $1,211.22
Available For Withdrawal $1,210.94
Margin Purchasing Power  $1,210.94


Ok. So. My deposits of 1400 apparently did not make it in today, but somehow the stocks that i bought and sold yesterday, they updated my buying power for today.. I was tol that it takes trading day plus 3 business days to get it back.. So... I called them, the guy said, yeah it looks like somehow i got my stock money the next day, but he doesnt know how.

The reason I called, is because the deposits i set up was 1 for 1200 and one for 200. I wasnt sure if my today balance was the first 1200 deposits or if it was the stock money that i had invested yesterday. Well since it has the extra 11 dollars, it was the stock money.

[jotuk6771]

Ok, So my account did get updated, but it confuses me further..

Net account Value $1,211.22
Available For Withdrawal $1,210.94
Margin Purchasing Power  $1,210.94


Ok. So. My deposits of 1400 apparently did not make it in today, but somehow the stocks that i bought and sold yesterday, they updated my buying power for today.. I was tol that it takes trading day plus 3 business days to get it back.. So... I called them, the guy said, yeah it looks like somehow i got my stock money the next day, but he doesnt know how.

The reason I called, is because the deposits i set up was 1 for 1200 and one for 200. I wasnt sure if my today balance was the first 1200 deposits or if it was the stock money that i had invested yesterday. Well since it has the extra 11 dollars, it was the stock money.

What amount is write on your " buying power" on the trading page ?

[rlordi20]

It was $1,210.94

but i bought stuff

[jotuk6771]

Well said ¨!      Make more than 3 daytrade in 5 days and your account will be locked 90 days!!!!  During this LONG time you can only sell!!! 

Be care full to not generated a daytrade margin call  ( see my first post in this topic), because after, you must deposit cash for the amount of the call in 5 days business, 10 maximum, until they lolock your account for 90 days same!!!

Well, jotuk..You just saved me a lot of anger! I just played a bit with my zecco account and did 2 day trades in two days, yesterday was the third day and I decided to keep my shares until today at least - after reading your post! You see : It came in just in time!!! I wondered what Doc meant with the "stupid day trader pattern" ... Now I know! And, yes: it definitely IS stupid!! In Germany we don't have any regulations like those. Hell, I have to push my small account to 25k $ - and fast  THX again, jotuk, for sharing!

You still can do a daytrade,( 3 in 5 full days open market .), but not more !!!  

I don't have any regulation same in Switzerland and i agree 100%  with the Doc thoughts !

[jotuk6771]

It was $1,210.94

but i bought stuff

It's ok, now stay quiet and follow the doc trades , that's the best way !  Be patient and continue to inform you a maximum ! 

Read all the informations topic in Zecco too at the left side of your trading page!

Wish you the best ! 

[rlordi20]

Thanks for all the help!! And best of luck to you also.

[jotuk6771]

Thanks for all the help!! And best of luck to you also.

Thanks,    I'm out of the game today , waiting for my " Day trade margin call" be  settled  (  2 days in deposit in the account) ...

My account is still suspended...  Must be ok, tomorrow or monday...