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Originally Posted by The Future7
Oh thats great. The stocks only affect whatever you put in. I'm definitely gonna get into the investing game.
Btw, are you allowed to pull out all your money at once?
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Money stuck in the market are not as "liquid," meaning the funds are not immediately available. Stocks need to be sold, and the funds need to settle before you can withdraw and use it.
You can sell your stocks at any time you wish after the settlement date, partial or all. Just make sure you give the funds enough time to settle before you withdraw. Some brokers, like TD Ameritrade, would give you a hard time about it. All this "settlement" crap came because our beloved government wants to discourage daytrading. I am sure there are plenty of smaller brokerage houses that can somehow work around it, but the major ones all require you to settle..... at least to my knowledge.
Basically, buy the stock and hold for 3 business days, and sell the stock and wait 3 business days.
Beyond that, there are a whole bunch of tax-related issues about selling the stock and then buying back within a certain period.... That's just something we can discuss sometime down the road since that's probably for short-term swing traders, and you won't go there yet.
