You can't buy on the same day and sell on the same day. The OTC trading of lof open-end funds adopts unknown price trading, and the trading principle is T+ 1. You can buy it today and sell it tomorrow. The subscription share can only be redeemed on T+2, and the redemption amount can only be withdrawn from the fund company on T+3, which needs to be transferred through the custodian bank and agent. Investors can only receive the redemption money on T+7 at the latest.

Open-end funds take the online banking subscription fund commonly used now as an example. To subscribe for a fund, the first thing is to freeze this part of the fund. After the stock market closes on the same day and the fund company confirms it, the net value of the fund announced on the same day is the purchase price, and the specific share can be found in your account the next day.

When selling, you have to wait until the stock market closes, and the net value of the fund announced that day is the selling price. However, the funds will not arrive immediately after the sale. Monetary funds arrive in two days, and other funds such as stocks generally arrive in three days.