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Thanks Fohat, your explanations have been really valuable, and as I understand, you are not restricted by limited capital yourself. I hope brokers will see this issue in the same light, eventually or at least PROVE otherwise. Bob

Interacitive Brokers www.interactivebrokers.com This is what I found on their website under Daytrading Cash Accounts Q & A: .... Therefore, because stock transactions settle in three (3) business days.... Actual rule, taken from SEC website http://www.sec.gov/answers/tplus3.htm states...

sallyboy, We actually posted at the same time, I didn't see your message, just to let you know. You wrote: Think about it, if the guy on the other end of the trade , who bought the CSCO you sold, didn't have the funds available in his account and doesn't deposit them until 3 days later...

All T+3 means that investors must complete or "settle" their security transactions within three business days. That is with 3 days being absolute max. http://www.sec.gov/answers/tplus3.htm Nothing more to it. But since most of funds DO settle before that, there is no reason for broker to hold...

I don't think it's daytrading that took a bite out of Mr. John Q's life savings, its was buyng and holding on to tech stocks, since he was no fool and followed his freind's advice. And in a meanwhile, he, was not eliminated. Bob

Bucky, Yes they do permit, or at least did permit, IB's Def said they stoped it since new Daytrading rule came out, I'm not clear why. But since they used to allow it, T+3 and Regulation T was NOT a problem, I cannot imagine why it would suddenly become a problem. Nothing in a new 25K...

Its a suggestion for every household to purchase a gas mask, too bad many are on back order, but better late than never. Bob

I'd like to know what happens if they get away with it?! Any reason why they wouldn't touch futures and options market, and what then? Lets set wheels in motion, economy is terrible, short sellers "killed it" why not ban short selling! And why not, people take it and move on. If you don't...

people and brokerages complained about it prior and after?! Go to SEC website @ www.sec.gov and search for word "daytrading" http://www.sec.gov/cgi-bin/txt-srch-sec?text=daytrading or "daytrading accounts" http://www.sec.gov/cgi-bin/txt-srch-sec?text=daytrading+accounts&mode=Simple And...

Is actually 13 pages long, link above shows only four, weird. Fohat gave many more explanations on last few pages. http://www.elitetrader.com/vb/showthread.php?s=&threadid=1951 Bob

http://geniusity.com/index.asp I've been recieving their trading reports via e-mail for quite a while, they're not too bad. Current Position: http://geniusity.com/current.asp Bob

You're right Tuna, there is nothing to laugh about indeed, sorry. Thanks for explaining, I really couldn't understand how they justified it. Bob

We should hire a lawyer. LOL Bob

Now all we need is to temporary halt short selling, which may eventually follow a permanent suspention and while we're at it, may be put more restrictions on futures and options market and may be on top of it add few more rules to daytrading qualified 25K accounts,etc. I know I'm a bit over...

I will ask no more. Bob

Regulation T Sec. 220.8 Cash account. (a) Permissible transactions. In a cash account, a creditor, may: (1) Buy for or sell to any customer any security or other asset if: (i) There are sufficient funds in the account; or (ii) The creditor accepts in good faith the...

Zarrar, If you talking about cash accounts, please read my long (and painful) thread on the subject and tell me what you think. http://www.elitetrader.com/vb/showthread.php?s=&threadid=1951&perpage=6&pagenumber=1 This is not exactly a clear issue, the new rule may not effect cash...

Where did you find that? I'm looking all over for any sings of possibility for undercapitalized daytrader to go at least long, no success so far. :( I mean to trade securites, you can trade other things in any direction as much as you want. But that's the whole another story, hard to give up...

I'm breaking my promise not to post again, but Def, you did mention one NYSE rule: "Regulation T issued by the Federal Reserve Board, and NYSE rules, require that once funds in a Cash Account are spent for a purchase, they may not be spent again. I never mentioned trying to trade with...

Def, So, there is another rule I'm not aware of, so why didn't you just refer me to according rule on NASD and NYSE, I really have no problem with any single thing you're saying, just seems like we're having problem matching questions with answers. I asked: "What's the interpretation of...