r/wallstreetbets • u/brokenb3ar • 19d ago

Gain POSITIONS FOR $800->$100k

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Since yall can’t stop crying about my positions. I’ll post it now here lol.

3.3k Upvotes

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u/anon_user3468 19d ago

Yes but cash accounts take a day to settle so you can’t buy and sell so close together

43

u/racerx1913 19d ago

I am convinced that all of you lose money because you don’t even know how brokers even work. I have a cash account and I day trade almost every day. If you buy a SPY contract and you put up $100 to buy that contract, you only use $100 of your buying power. That settles the next day and you can use it again +/- any gains or loses.

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u/Brilliant-Space3066 18d ago

He could take 4 trades of 200 dollars and close them all same day, so it’s very possible. Then the cash is settled overnight and fully available next day.

12

u/ZealousidealHall8975 19d ago

Yep you’ll get slapped with free ride violations otherwise