I've been getting out of my comfort zone, doing some speculative investing.
Made one trade, opened and closed my position in less than 24 hours, made 18.5%! Excited, I wanted to open another position.
Vanguard warns me that I need to wait for the settlement date before I close my new position otherwise I'm in violation of some law and could have restrictions put on my account. The settlement date was almost a week away!
Is this standard for all regular brokerage accounts? Is it expensive or otherwise restrictive to get into an account that settles more quickly?
EDIT : Turns out it's because my account isn't yet set up for margin! I was meaning to get around to that soon. Thanks everybody!
Submitted November 06, 2014 at 12:35PM by A_Cunning_Plan http://ift.tt/1y9HAMp
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