T-2 for crazycraig2k

  1. 22,490 Posts.
    lightbulb Created with Sketch. 84
    @crazycraig2k

    Hard to tell what's happening without specific details/$$$ amounts,

    but I'd guess that as long as your "sell" orders are equal to, or greater than

    your "buy" orders, actual settlement date won't worry you.

    Saying your settlement "date" was pushed back, (FORWARD),

    is because they've calculated trade A is negated by trade B,

    which in turn is negated by trade C, and so on.

    Eventually, if you stopped trading, after T-2 you would get a deposit,

    or a request for funds, to cover any shortfall, depending on whether you made

    a profit or loss, overall.

    I guess you're using Commsec credit?

    If trading with our own money, "settlement date" is of no concern.
    ...................................................................................................................
    Buy stock A for $8,000, sell stock A for $10,000.

    Buy stock B for $10,000, but price drops, only worth $5,000,

    T-2 doesn't matter. At one stage, you had the $10,000 to cover the purchase

    of stock B, so no matter the current value, you have the money to pay for

    stock B, from the sale of stock A.

    Simple answer to your anxiety, add up how much you spent

    on "buy orders", plus brokerage, for the ( 5?? ) trades,

    then subtract the value of your "sell orders".

    If sell exceeds buy, czech's in the male !

    If not, you have to produce the difference.

    Just selling a stock you own, or part there of, will suffice,

    but if it means you are late settling, and it becomes a regular occurrence,

    they frown upon that sort of trading.
 
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.