Selling/buying stocks on the same day

[Mikii]

hey there peeps!
just want to ask a quick question, i know its stupid, but its kind of urgent...
if i sell a stock tomorrow morning, and i buy something mid day.... will the funds just transfer? settlement date will be on tuesday... so does the money from the stock i sold come in before they take money out for the new stock ? need to know this cuz i dont have the funds by tuesday.

thanks in advance !

 

[cordelia]

hey there peeps!
just want to ask a quick question, i know its stupid, but its kind of urgent...
if i sell a stock tomorrow morning, and i buy something mid day.... will the funds just transfer? settlement date will be on tuesday... so does the money from the stock i sold come in before they take money out for the new stock ? need to know this cuz i dont have the funds by tuesday.

thanks in advance !

hello, I don't want to sound harsh but really...you should be talking to your broker about this. More importantly...have you read the trading agreement that your broker has issued you? If you don't acquate yourself with these basics how do you expect to make money in this environment? Its up to you you to do your own research and look after your own money. If you understand that you are half way there. Seeking advice from others is a road littered with those who fail to take responsibility for themselves. Find out things for yourself..its all there if you care to look...good luck

PS..I heard you cal me a bitch

 

[Whiskers]

hey there peeps!
just want to ask a quick question, i know its stupid, but its kind of urgent...
if i sell a stock tomorrow morning, and i buy something mid day.... will the funds just transfer? settlement date will be on tuesday... so does the money from the stock i sold come in before they take money out for the new stock ? need to know this cuz i dont have the funds by tuesday.

thanks in advance !

I won't be as harsh as cordelia, but yes you should familiarise yourself with all these details before you trade.

If you are net trading you will generally be able to trade with unsettled funds, but not be able to withdraw any until settled. You normally won't be able to place a trade if you don't have sufficient available funds... but find out exactly what your situation is ASAP.

Also if net trading you should have an account page on the platform that tells you what you hold, what is awaiting settlement, available funds to trade and available funds to withdraw.