show-me's Account

[Show-me]

Anybody want FAZ at 26? Crap! O well I will likely double down in the morning sold half of my UCO at a nice profit. Upside down on the other half.

[Show-me]

Got some faz at 25.50 and trying to sell the rest of the UCO at a slight lose because of the position on the charts. UCO gapped up and broke the 50 dma and I don't think it can push much higher.

[JTH]

Got some faz at 25.50 and trying to sell the rest of the UCO at a slight lose because of the position on the charts. UCO gapped up and broke the 50 dma and I don't think it can push much higher.

Well I hope you got a better FAZ price then the rest of us did.

Looking at the hourly ADX chart for UCO the +Di seems pretty consistent, while the -DI is a bit too weak and may be ready for a pull back. That's a nice looking chart, I hope it's been good to you.

Attachment 45

[Show-me]

I have done well with FAZ and I have been spanked by FAZ.

This is one of those ah ha moments when you know it is low enough and I would sell it but I am stuck in the 3 day settlement rule.

[JTH]

3 day settlement rule.

How does that affect your selling?

[Show-me]

How does that affect your selling?

I can't sell without violating Regulation T and that is killing me because I'm up 25% on this trade from the buy this morning. I wanna sell but will get a warning from ST for the violation and I don't want to burn it yet.

Here is the ST posting about it.



Trading in Cash Accounts
Interpretations of Regulation T, which govern how trades are paid for, state that funds from liquidations in cash accounts will not be available to pay for purchases until the settlement date of the sell.
Credit balances in a cash account may be used for purchases.
• If the account has settled funds, there are no restrictions as to what may be purchased.
• If the credit balance is a result of an unsettled sale of securities, certain restrictions may apply.
• Unsettled proceeds from existing long positions can be used to purchase additional securities as long as the new purchase is not sold prior to the settlement date of the original sale that generated the proceeds used to finance the purchase.
• If it is sold prior to the settlement date of the funding sale without additional funds being deposited, it will be considered a free ride under Federal Reserve Regulation T.
For example, if you sell a security on Monday the 1st, you can use the proceeds to make a purchase prior to the settlement date of Thursday the 4th.
• However, if you make a purchase before Thursday the 4th then sell that new position before the settlement of Monday's sale, you will then be required to deposit funds to pay for the purchase.
• If you purchase on Thursday the 4th, you may place a sell at anytime you wish, since the purchase was made with settled funds.
Mutual Funds and Fixed Income Securities can only be purchased with existing or settled funds.

[Rod]

Yeah, I tell myself I will never trade unsettled funds so I don't get stuck. So far, so good!

[JTH]

OIC said the blind man.

I'm lucky (not really) I don't have that problem because USAA restricts access to unsettled funds. I can see it, I just can't play with it.

[Gumby]

I can't sell without violating Regulation T and that is killing me because I'm up 25% on this trade from the buy this morning. I wanna sell but will get a warning from ST for the violation and I don't want to burn it yet.

Here is the ST posting about it.



Trading in Cash Accounts
Interpretations of Regulation T, which govern how trades are paid for, state that funds from liquidations in cash accounts will not be available to pay for purchases until the settlement date of the sell.
Credit balances in a cash account may be used for purchases.
• If the account has settled funds, there are no restrictions as to what may be purchased.
• If the credit balance is a result of an unsettled sale of securities, certain restrictions may apply.
• Unsettled proceeds from existing long positions can be used to purchase additional securities as long as the new purchase is not sold prior to the settlement date of the original sale that generated the proceeds used to finance the purchase.
• If it is sold prior to the settlement date of the funding sale without additional funds being deposited, it will be considered a free ride under Federal Reserve Regulation T.
For example, if you sell a security on Monday the 1st, you can use the proceeds to make a purchase prior to the settlement date of Thursday the 4th.
• However, if you make a purchase before Thursday the 4th then sell that new position before the settlement of Monday's sale, you will then be required to deposit funds to pay for the purchase.
• If you purchase on Thursday the 4th, you may place a sell at anytime you wish, since the purchase was made with settled funds.
Mutual Funds and Fixed Income Securities can only be purchased with existing or settled funds.

My friend, you need to set up a margin account to get around this problem. Day trader status is the best and you can roll as many trades as you want but you have to make sure the balance stays above $25K at the time of trade.

[Show-me]

My friend, you need to set up a margin account to get around this problem. Day trader status is the best and you can roll as many trades as you want but you have to make sure the balance stays above $25K at the time of trade.

Brother, that is next on my list.