Robinhood allows something called "instant," which lets one go from trading with only settled funds, to reinvesting immediately after a sell. This is typical of brokers, who will let you reinvest in good faith one time, or so Schwab tells me.
Example:
Cash account: Own stock A. Sell stock A. Wait three days. Buy stock B.
Limited margin: Own stock A Sell stock A Buy stock B Wait 3 days Sell stock B
On Robinhood, as long as one doesn't day trade the SAME stock, they can make as many trades as they want.
So using this app, one could day trade APPL TSLA GOLD etc, but the system isn't recognizing it, for me anyway, unless I sell apple and buy it back again that same day.
Not sure if this is a glitch that's only happening to me, but my normal broker wouldn't let me do this.
Submitted September 08, 2017 at 01:01PM by cofveve1234 http://ift.tt/2xUPGQa
