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Robinhood Question #13916619 03/09/21 07:14 PM
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BCBassCat Offline OP
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Definitely new to the day trading game. I had a couple of stocks preform really well and decided to sell yesterday. I got notification of the sell being completed this morning. My buying power shows the new amount but the amount transferable is the same for last couple of months. Is there a built in delay that I’m unaware of?

Re: Robinhood Question [Re: BCBassCat] #13916623 03/09/21 07:17 PM
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SgtDag Offline
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From my experience it takes a few days for the “final” notification, however, it stay at the same sell/buy price.


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Re: Robinhood Question [Re: BCBassCat] #13916665 03/09/21 07:56 PM
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T Bird Offline
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Takes 2 days from trade execution until settlement per SEC. Commonly referred to as T2.


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Re: Robinhood Question [Re: BCBassCat] #13916862 03/09/21 11:28 PM
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RickS. Offline
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Yep, two days to settle the funds. You can still trade with those funds. But can only transfer settled funds.
Also I recommend learning the difference in day trading and other trading. Don't get marked as a pattern day trader with less than 25k in your account. You will find your account locked for 90 days.

Re: Robinhood Question [Re: BCBassCat] #13916961 03/10/21 01:03 AM
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Pintail711 Offline
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Open an account with a real broker and not a fischer price broker.

Re: Robinhood Question [Re: BCBassCat] #13917139 03/10/21 03:37 AM
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PaulGrapevine Offline
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The standard settlement for an equity trade is T (trade date) plus 2 (days). This means the trade settles 2 days after the trade date. It was T plus 3 until a few years ago. You can probably buy something else that would settle on or after the current settlement. It won’t let you get the cash out until after the trade settles.

If you really want your head to spin, look up how Robin Hood gets paid for order flow. Trades are not “free” there.

Re: Robinhood Question [Re: BCBassCat] #13917474 03/10/21 02:34 PM
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BCBassCat Offline OP
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Is it merely a coincidence that the day the sell is final, every time I try to log in I get "something went wrong"?

Re: Robinhood Question [Re: Pintail711] #13917551 03/10/21 03:28 PM
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RickS. Offline
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Originally Posted by Pintail711
Open an account with a real broker and not a fischer price broker.


Robinhood is one of my four accounts. It serves its purpose that I use it for. But there are definitely better ones out there. After their last couple of stunts. I keep my funds fairly low in that account. I use it mainly for quick swing trades and if I want to burn a day trade.

Re: Robinhood Question [Re: BCBassCat] #13917552 03/10/21 03:29 PM
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Flyfisherman Offline
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Robinhood is a complete joke of a platform.

Re: Robinhood Question [Re: BCBassCat] #13917553 03/10/21 03:30 PM
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RickS. Offline
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Originally Posted by BCBassCat
Is it merely a coincidence that the day the sell is final, every time I try to log in I get "something went wrong"?


The coincidence isn't because you have settled funds. Its because both Gamestop and AMC are doing their thing again.

Re: Robinhood Question [Re: RickS.] #13917628 03/10/21 04:33 PM
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BCBassCat Offline OP
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Originally Posted by RickS.
Originally Posted by BCBassCat
Is it merely a coincidence that the day the sell is final, every time I try to log in I get "something went wrong"?


The coincidence isn't because you have settled funds. Its because both Gamestop and AMC are doing their thing again.


Thanks for clarification Rick. I guess I sold my AMC too soon....

Re: Robinhood Question [Re: BCBassCat] #13917629 03/10/21 04:36 PM
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RickS. Offline
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Originally Posted by BCBassCat
Originally Posted by RickS.
Originally Posted by BCBassCat
Is it merely a coincidence that the day the sell is final, every time I try to log in I get "something went wrong"?


The coincidence isn't because you have settled funds. Its because both Gamestop and AMC are doing their thing again.


Thanks for clarification Rick. I guess I sold my AMC too soon....


Still time the squeeze hasn't squoze yet.

Re: Robinhood Question [Re: BCBassCat] #13917798 03/10/21 06:51 PM
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Floon Swenson Offline
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T+1 is on the immediate horizon...which will make life a little cushier.

Re: Robinhood Question [Re: Floon Swenson] #13917804 03/10/21 06:54 PM
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Originally Posted by Floon Swenson
T+1 is on the immediate horizon...which will make life a little cushier.


I wonder if that will change the PDT rules

Re: Robinhood Question [Re: BCBassCat] #13917812 03/10/21 07:02 PM
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patriot07 Offline
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The settlement timeline is fairly common to all brokers, but you should get with Fidelity or TD Ameritrade. Robin Hood pulled some shady stunts last month and needs to be bankrupted - they're awful.


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