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<<<so wouldn't a same day sell x buy y be a free ride?>>>

The sell of y has nothing to do with a "free ride". When you buy stock in a cash account you have 3 days (maybe 5) to get the money to the brokerage.

Checking my last purchase in a cash account with harrisdirect, the trade date listed was 11/25/03 and the settlement date was 12/1/03. Turning that confirmation slip over, harrisdirect lists Terms and Conditions.

There it states that payment in full in a cash account is due "not later" than the settlement date and that a sale of such securities not be contemplated prior to making such payment. (That's the "free ride" reference. Not allowed.)

IOW, in a cash account you can't sell X stock before paying for X stock. (similar to kiting?)

With a cash account, no question you have to get the check in the mail same day you make the purchase or link your brokerage account to a checking account. But dates above give adequate time, IMO.

Sounds like you're satisfied with your arrangement.

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