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You are given a a million dollars if you can spend it in one day. The transaction has to be finished that day, so no houses or similar. What do you buy? (lazysoci.al)

submitted 2 weeks ago by [email protected] to c/[email protected]

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[–] [email protected] 5 points 2 weeks ago (1 children)

Stocks

[–] [email protected] 3 points 2 weeks ago (1 children)

Stocks are currently T+1, meaning the trade does not finalize until the next day.

[–] [email protected] 3 points 2 weeks ago (1 children)

In my country they're finalized immediately

[–] [email protected] 2 points 2 weeks ago (1 children)

Move to this guy's country, buy stocks

[–] [email protected] 2 points 2 weeks ago (1 children)

How do you day trade in your country?

[–] [email protected] 2 points 2 weeks ago

For the most part, the only real restriction is that you have to have cash on hand to settle any purchases that day regardless of any sales. The next day all the transactions settle and you can continue. So you just have to keep a larger cash reserve if you're going to do a lot of swing trading.

Some brokers are more flexible with that and will cover you as long as your trades don't put your cash in the negative, but that's up to the broker to manage the risk of a failed transaction.

Or so I understand it.