Ditch - you can sell your position after hrs if you want to, if
you were following the close, SPY closed at 131.87, so there is no
trade for the system, very close though only 3 cents off.
I suggest on nail bitter days to use a quote matrix, which is
available with most brokers, that way you can see the prices in
real time. Or set an audio alarm. Now after hrs SPY is
below the price, but after hrs doesn't count for the system
Yes you can, you can trade after hrs in Fidelity, I have a
Fidelity retirement account. There is a link that says 'trade
extended hrs' see the picture.
Posted by hamvestor on 1st of Jun 2011 at 04:54 pm
No Matt, you cannot sell a security in an IRA if you bought it
the same day. It would violate the "free ride" rules. The
availability of AH trading does not change the analysis. BTW, I
trade with Fidelity through the ATP platform.
Yes you can, but then you cannot use that same money for 3 days.
However, you have say a $100,000 account, and you used only
$30K for the SPY system, you still have $70K in unrestricted funds
to trade with. Now if you guys using trading 100% of your
portfolio for the SPY system, then yes you would be stuck, but I'm
not responsible for improper money management like that.
Also I built the SPY system for trading SPY, not other vehicles
and restrictive trading accounts. I designed it to trade SPY
in a normal trading account that doesn't have tons of time
restrictions etc. Use your trading account if you have
problems with your IRA etc
Posted by hamvestor on 1st of Jun 2011 at 05:08 pm
Matt, I guess I owe you an apology. I just set up an order to
sell a security I bought earlier today in a Fidelity IRA, and did
not get the usual free ride message in the trade confirmation
screen. I guess I used to get that message when the trade proceeds
hadn't yet settled, and I'm now in the uncustomary position 0f 90%
cash. Thanks for straightening me out!
When I got the email
Update
Posted by ditch on 1st of Jun 2011 at 04:28 pm
When I got the email it was at $131.78 and now it's at $131.82 and I've bought in...... timing is everything.
Ditch - you can sell
Posted by matt on 1st of Jun 2011 at 04:32 pm
Ditch - you can sell your position after hrs if you want to, if you were following the close, SPY closed at 131.87, so there is no trade for the system, very close though only 3 cents off.
I suggest on nail bitter days to use a quote matrix, which is available with most brokers, that way you can see the prices in real time. Or set an audio alarm. Now after hrs SPY is below the price, but after hrs doesn't count for the system
not in 401k from fidelity u can't
Posted by desertrat on 1st of Jun 2011 at 04:38 pm
Yes you can, you can
Posted by matt on 1st of Jun 2011 at 04:44 pm
Yes you can, you can trade after hrs in Fidelity, I have a Fidelity retirement account. There is a link that says 'trade extended hrs' see the picture.
No Matt, you cannot sell
Posted by hamvestor on 1st of Jun 2011 at 04:54 pm
No Matt, you cannot sell a security in an IRA if you bought it the same day. It would violate the "free ride" rules. The availability of AH trading does not change the analysis. BTW, I trade with Fidelity through the ATP platform.
Yes you can, but then
Posted by matt on 1st of Jun 2011 at 04:56 pm
Yes you can, but then you cannot use that same money for 3 days. However, you have say a $100,000 account, and you used only $30K for the SPY system, you still have $70K in unrestricted funds to trade with. Now if you guys using trading 100% of your portfolio for the SPY system, then yes you would be stuck, but I'm not responsible for improper money management like that.
Also I built the SPY system for trading SPY, not other vehicles and restrictive trading accounts. I designed it to trade SPY in a normal trading account that doesn't have tons of time restrictions etc. Use your trading account if you have problems with your IRA etc
Matt, I guess I owe
Posted by hamvestor on 1st of Jun 2011 at 05:08 pm
Matt, I guess I owe you an apology. I just set up an order to sell a security I bought earlier today in a Fidelity IRA, and did not get the usual free ride message in the trade confirmation screen. I guess I used to get that message when the trade proceeds hadn't yet settled, and I'm now in the uncustomary position 0f 90% cash. Thanks for straightening me out!
no apologies needed please. We are all
Posted by matt on 1st of Jun 2011 at 05:21 pm
no apologies needed please. We are all friends here just trying to do the best we can and make money! I understand that things can be confusing
ok got ya ............well i use a portion for spy and rest for regular
Posted by desertrat on 1st of Jun 2011 at 05:00 pm
positions..