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Last post 05-11-2008, 9:44 AM by Fishhead24. 3 replies.
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  •  05-08-2008, 1:02 PM 28731

    Stop and Limit Orders in After Hours Trading?

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    Two quick questions for a newbie....

    I just entered a limit order GTC...can Zecco execute this in after hours trading?

    Also, what is the definition of a day trader per Zecco and if I am tagged as one, do I need 25k cash balance? Is it three buy AND sell orders in 5 business days of the SAME security?

  •  05-09-2008, 5:22 PM 28822 in reply to 28731

    Re: Stop and Limit Orders in After Hours Trading?

    Reply Quote

    1. No afterhours trading with Zecco.

    2. http://en.wikipedia.org/ . Yes would need 25 k in cash.. Don't do it. Unless you have 25 k to lose.

  •  05-09-2008, 5:56 PM 28825 in reply to 28731

    Re: Stop and Limit Orders in After Hours Trading?

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    One day trade is buying a stock and selling it - in that order - on the same day. Do this four times or more in a rolling five day period and you get tagged as a pattern day trader. (This is not a Zecco thing, BTW, it's an SEC rule all brokers must follow.)

  •  05-11-2008, 9:44 AM 28886 in reply to 28825

    Re: Stop and Limit Orders in After Hours Trading?

    Reply Quote

    Also, I think some get confused by the "same security" phrase.

     

    By same security they mean the same stock bought and sold.........so buying a and selling three DIFFERENT securities on the same day is limited to three total per five BUSINESS day periond.........if not, ante up 25,000.
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