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No, it's not ludicrous. The idea that someone with $3000 can daytrade is, on the other hand. You can bitch as much as you want, but the truth is although very very few small traders didn't make as much as they could have b/c of this rule, a LOT more didn't lose as much as they would have...

Check this out: <i> If you have been a dual citizen from birth or childhood, or else became a citizen of another country after already having US citizenship, and the other country in question does not have any laws or regulations requiring you to formally renounce your US citizenship before US...

Your reply is very strategy specific. Obviously what he does works well enough in principal. Some strategies are based on preempting the moves. Mine is and his seems to be as well. The moves might not be large enough to wait for the correction to develop b/c you'll be late. Your approach is...

I agree with your points and you make some very good ones. However, there is an additional facet to it you haven't mentioned that often lead to such self-destructive behavior. If you do avoid a loss, you feel happy as you are correctly describing, BUT, if you take a loss and the price reverses...

In certain cases, the government does have a right to restrict uses of money that are deemed detrimental to society, e.g. even though it's YOUR money, you can't go and spend it on drugs or prostitutes legally :D

<i>They increase risk of financial loss to small traders</i> Are you people serious??? The rules were put in place to make sure small traders DO NOT day trade. The reason it was done is similar to why gambling is restricted in many states. So in fact, it's just the opposite, they put those...

I do exclusively overnights... Why trade any other windows? that's where most of the action is (as long as it's not going against you :D)

Depends on how the citizenship is acquired. If it's via the natualization process (i.e. you were a citizen of another country first), then YES, you do officially surrender your other citizenship when taking the oath or whatever to get the US citizenship. The loophole exists b/c the other...

this is also somewhat related to the prior question... if someone has a large position and the stock declines drastically on any given day, way below the maintenance margin, at what point in time will the brokerage close their clients positions? Will it be next day or on the day of the drop...

Hi guys, just saw this a few minutes ago and am not quite sure if it still works this way. <i> Portfolio insurance may be an example of a stragety that attempts to precommit to withdraw funds in the case of large moves, which will thus worsen the liquididy (pressure) effects... Leland and...

Posted by <b>calibertrader</b> in another thread. 11-14-02 06:28 PM Re: The Markets and Mental Illness <i> -------------------------------------------------------------------------------- Quote from profitseer: So, isn't the market sort of mentally ill? It thinks it is going...

HAHAHAHAHA!!!! LMAO.

Man, I'm flattered you found the example I have concocted intersting enough for the thread title :D The reason why I think only pros should do it is b/c the higher the proportion of professional/informed (as opposed to amateur/naive) investors, the quicker the price reflects true value. The...

When you buy something, you have to have a very good likelihood that it will go up. If your entry system sucks (let's say whatever you buy has a 50/50 chance of going up or down), and you take a loss as soon as it's there but have a higher profit target, then you'll end up with lots of little...

I just looked it up and I stand corrected. Although it's not all that clear in my case... Here's the link: http://www.richw.org/dualcit/?from=http%3A//www.faqs.org/faqs/cultures/irish-faq/part08/section-7.html

Thanks for the reassuring info.

OK, I think I know where I misunderstood you. The 3/5 restriction you are referring will not apply if I have far in excess of 25 grand in my account, right? I hope so. So to sum it up, if I have a lot more than 25 thousand in my account and it's a margin account, that I should be able to make...

Yes, except that there are possible complications. First, when I enter Ukraine with my Ukrainian passport, they'll be checking for US exit records in it. Secondly, assuming the first problem is overlooked, if I use my Ukrainian passport to leave Ukraine, I need a US visa - thus I'd have to use...

I agree that one can do it. But it is illegal and I'm not sure the rewards outweigh the risks.

I'm sure that Italy would probably consider you as their citizen if you ask them. What I was trying to say was that according to the US law, if you are a US citizen, you are only entitled to US citizenship. If you act in any manner as if still maintaining your prior citizenship (assuming...