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How do I avoid free riding and still get out on time?

I am new to penny stocks and today I tried getting out of a trade which I had purchased today also but the site I'm using (sharebuilder ) warned me I was "freeriding"... how do other people lock in profits or avoid losses by trading that stock the same day they purchased?  Please help. Thanks

Posted Jun 22, 15 6:18 PMbyrperez59
Views 315 / 0
Bugtrout
Bugtrout Jun 22, 15 9:32 PM

If you have under 25K in your account you can only do 3 round trips in a rolling 5 day period. If you are wanting to buy and sell in one day more than 3 times in a rolling 5 day period you then have to have more cash or find a broker off shore, something like Suretrader. If you do more than the 3 round trips your account will be locked for a certain amount of time. TD is a 90 day lock out.

Palmer
Palmer Jun 22, 15 10:00 PM

.and if you are above 25K with TOS (TD) and you fall under 25K you get locked out for 90 days too...not cool.

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