Day trading with usaa?

In confused in how to day trade. I have a cash account with usaa but when I make a trade and sell a stock I have to wait 3-5 to make another transaction. How could I day trade ( buying and selling 3-5 stocks a day) if I had to wait. I don't want to have to trade on margin

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  • M
    Lv 6
    6 years ago
    Best Answer

    Two things, first of all in order to day trade you need to change your account to a margin account. Just because you have a margin account though doesn't mean you have to "trade on margin". Trading on margin occurs when you use your margin account to borrow money in order to buy stock. To avoid trading on margin, just make sure you don't invest any more money than you have deposited in the account (it's that simple). Without a margin account however, all trades must settle before you can place another trade. It takes 3 trading days for a typical stock trade to settle, so you won't be able to do much daytrading.

    Secondly there is a SEC (Securities Exchange Commission) regulation that says you cannot daytrade unless you have at least $25,000 invested in your account. USAA must comply with this regulation, so make sure you have $25k in the account otherwise USAA won't let you daytrade.

  • 3 years ago

    1

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  • Anonymous
    3 years ago

    2

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  • menken
    Lv 4
    3 years ago

    Usaa Stock Trading

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  • Anonymous
    4 years ago

    This Site Might Help You.

    RE:

    Day trading with usaa?

    In confused in how to day trade. I have a cash account with usaa but when I make a trade and sell a stock I have to wait 3-5 to make another transaction. How could I day trade ( buying and selling 3-5 stocks a day) if I had to wait. I don't want to have to trade on margin

    Source(s): day trading usaa: https://biturl.im/RViK7
  • David
    Lv 7
    6 years ago

    Your account value would have to be $25,000 or more to actively day trade.

    Index futures have no such limitation. But futures have high leverage, and you can blow out twice as fast.

    Why would you want to day trade before you know how? In this business, it costs money to learn by trial and error.

    Before you decide to become a day trader, check out these articles, first by the SEC (Securities & Exchange Comm), second by the FTC (Federal Trade Commission, and third by the Motley Fool:

    http://www.sec.gov/investor/pubs/daytips.htm

    http://www.ftc.gov/opa/2000/05/daytrading.shtm

    http://www.fool.com/investing/small-cap/2004/12/27...

    You really need to learn more about trading before you start making decisions about a system. But that would require that you develop a trade plan and learn something first.

    Article: Trading is Timing

    http://www.investopedia.com/articles/trading/06/Tr...

    Day Trading Strategies For Beginners

    http://www.investopedia.com/articles/trading/06/da...

    Better to learn investing first, and trade a simulator while you learn, and test your plan on the simulator in up and down markets. Once you become consistent, then you still might want to take a look at trading.

    Getting Started In Stocks

    http://www.investopedia.com/articles/basics/07/get...

    Five Minute Investing: How To Evaluate A Trading Strategy

    http://www.investopedia.com/university/fiveminute/...

    The Cardinal Sin Of Beginning Investing -- And How To Avoid It

    http://www.investopedia.com/stock-analysis/streeta...

  • 4 years ago

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    5 years ago

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