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"3-day settle" rule upon selling

The 3 days wait is the period of time that the funds "settle" If you had used that money within the 3 days its called "free ride," and your account is banned from trading for a month. So if you think that this 3 day wait hurts you, a month is worst! Scottade lets you buy something with those funds but then you cant sell the stock that you but with the "unsettled" funds for 3 days. If you qualify as a daytrader there is no wait. I also think there is no wait if you have a margin, but not too sure about that one. And to qualfy as a daytrader you have to make a couple trades per week or something. Hope this helps and welcome! :welcome