Yes, this is called a daytrade. But be aware that if you daytrade 4 times in 5 business days, you'll be deemed a pattern daytrader and you'll have to maintain a minimum of $25,000 in a margin account.
Whatevit is incorrect. Trades in cash accounts settle in 3 business days, not 7. If you have a margin account, OTOH, you don't need to worry about settlement dates. And wash sales are a different matter altogether (go to fairmark.com to learn about wash sales for traders).
2007-02-28 11:37:20
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answer #1
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answered by LongArm 3
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Depends on what you are buying shares in. Stocks - yes. Mutual funds, generally no because all business usually transact at end of day.
But, why would you? You're gonna pay high end taxes + commission going in and out. Hopefully you are making a lot of money on this transaction, otherwise your better off hanging in there.
2007-02-28 19:19:59
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answer #2
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answered by Baked n Blended 5
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You can buy a share anytime the market is open, and sell it anytime the market is open, even a minute later if you want. How long you hold on to it only matter for tax purposes.
2007-02-28 19:21:19
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answer #3
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answered by Brian G 6
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LongArm is correct. I frequently day trade my accounts (margin and IRA) and occasionally I lose track of where I'm at regarding settled funds in the IRA. When that happens, I never hesitate to call the broker and have them figure it all out for me.
2007-02-28 20:37:02
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answer #4
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answered by AZ123 4
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YES: But you have to have all of the money to buy it in the morning. The money that you get in the afternoon is not credited to your account until 7 days.
Wash sales is frond on by the SEC. ERNEST money is required for all transactions.
2007-02-28 19:20:29
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answer #5
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answered by whatevit 5
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You have to have a daytrading account.
Some brokers require minimun deposits to do so.
Check your broker requeriments
2007-02-28 20:11:38
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answer #6
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answered by Carlos G 3
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Yes.
VERY IMPORTANT NOTE:
You can do that only 3 times a week. (If you don't have at least $25,000.00 USD)
Please do not break any laws.
2007-02-28 21:50:41
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answer #7
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answered by Anonymous
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you can sell it wherever you want, whenever you want, and to who ever you want...you can even trash it if youd like...trash can is over there by the way..
2007-02-28 19:55:58
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answer #8
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answered by Anonymous
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YES
2007-02-28 19:17:53
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answer #9
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answered by itsa b 2
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