clarification on trade settle date

Discussion in 'Trading' started by dumb_mother, Mar 19, 2012.

  1. so i have a small account that i'm investing in for the long term. this is not a margin account. i sold cat to exit on friday and now it says the trade settles on the 21st. can i open a new position now as long as i don't close it before the 21st? or do i have to wait until that trade settles before i can use the cash in the account?

    a few years ago i violated whatever this rule is a bunch (since i'm used to trading in a different futures account where none of that matters) and was just wondering if anyone could help me out by clarifying this rule for me.
  2. no help?
  3. bc1


    What Broker? Was there an increase in buying power and a change in your cash account for the amount of the sale?