Stock Markets Exposed

I have a question about day trading and stock settlement.?

Ok, I'm wondering if i buy a stock Monday evening....will i not be able to sell it for 3 days because of the 3 day settlement rule,Or does it mean that i can buy a stock Monday evening and then sell it Tuesday afternoon but the money i made off that trade wont come into my account till Thursday. I'm kinda confused. Your advice would help(i think, lol) Thank-you

Public Comments

1. You can sell a stock whenever you want, but the money you used to buy that stock or the profits from that trade will take 3 days to settle. You won't be able to touch the money from that one trade for 3 days.
2. You shouldn't be able to touch the money for three days but Scottrade doesn't actually stop you from trading with unsettled funds. They just tell you to stop doing it but they haven't stopped me from actually using unsettled funds as of yet.
3. it takes 3 days for the $ to process
4. Buy Monday, sell monday, funds available to do it again on Thursday. Buy Monday, sell Thursday, funds available immediately to do it again. 3 day settlement in cash accounts is determined by when the purchase transaction happens. Once you have owned it three days, any sales generate immediate cash for your use.
5. You have to wait three days after you sell in order for the money to settle.