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When trading with cash in a brokerage account, it may not be clear when you will have full access to the cash after selling a stock. The balance in your account may not be updated immediately after a sale, as it takes two trading days for equity trades to settle. The settlement date is when the buyer receives the shares and the seller receives the money. This means that if you sell a stock on Monday, you won't receive the cash until Wednesday. Understanding this two-day lag time between transaction and settlement can help you differentiate between settled and unsettled trades.