- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
TDA question about funds being on hold
Posted on 2/23/21 at 11:08 am
Posted on 2/23/21 at 11:08 am
I know there is a hold on transferring money into your TDA account.. typically 3-4 days.
Is there going to be a hold in this scenario... say I buy 1000 shares of something that morning and sell it for 100 dollar profit.
is the 1000 plus 100 on hold for several days or just the 100 I made?
Is there going to be a hold in this scenario... say I buy 1000 shares of something that morning and sell it for 100 dollar profit.
is the 1000 plus 100 on hold for several days or just the 100 I made?
This post was edited on 2/23/21 at 11:09 am
2
Posted on 2/23/21 at 11:26 am to Sasquatch2020
You can buy something as soon as you transfer funds to your account as long as it's not an OTC stock which would need to settle.
If you buy something say $1000 and make $100 and sell it all for $1100 the same day you would need to let it settle for two days before using those funds or you'll get a good faith violation.
If you buy something say $1000 and make $100 and sell it all for $1100 the same day you would need to let it settle for two days before using those funds or you'll get a good faith violation.
Posted on 2/23/21 at 11:31 am to Sasquatch2020
Is that something you plan on doing a lot?
If so, you there are rules you need to familiarize yourself with.
If not, then yes you can buy again as long as you have margin enabled.
If so, you there are rules you need to familiarize yourself with.
If not, then yes you can buy again as long as you have margin enabled.
Posted on 3/15/21 at 11:13 am to Adam4848
quote:
If you buy something say $1000 and make $100 and sell it all for $1100 the same day you would need to let it settle for two days before using those funds or you'll get a good faith violation.
Not true.
If you buy with $1,000 of settled funds and sell that same day for $1,100, you can use all of those proceeds the next day to buy more stock. HOWEVER, you can’t sell those new shares until the original sale has settled (T+2). So you can rebuy with unsettled funds, but can’t sell a stock not purchased with settled funds. I know this because I started day trading Thursday and committed my first violation Friday.
Posted on 3/15/21 at 11:28 am to Adam4848
If I put money into my account today what is the fastest I can buy otc stocks.
Posted on 3/15/21 at 12:01 pm to tigersownall
Some are restricted, and in those cases you'll have to wait for the funds to settle first. Should be good on Wednesday. If it's a new acct, it may take longer
Posted on 3/15/21 at 12:47 pm to tigersownall
I'll give you an example. I also use TDA and added funds to buy STLHF. However, b/c it is OTC, I had to wait several days (don't remember the exact number but it was more than 2 full days) for the funds to settle in my account before I could initiate an order on STLHF. I think it's mostly b/c of the cash required to pay the commission / trading fee associated with the OTC stocks.
However, in that interim period, I was able to buy other stocks like ETSY and CSCO with no issues.
However, in that interim period, I was able to buy other stocks like ETSY and CSCO with no issues.
Page 1 of 1
Popular
Back to top
Follow TigerDroppings for LSU Football News