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In a way, this just makes me want to get up 25k and start skimming off their money even MORE...

"We have decided that folks with $1,000 or more are smart and sophisticated people who enjoy casino “gaming”. Those with less than $1,000 are degenerate, compulsive gamblers who need rules and regulation. They should not been given an even break or opportunity to win or lose. How about...

be advised that i believe the rule reads "FOUR OR MORE" round trips in "ANY 5-DAY PERIOD" which is *not* 4 trades per WEEK basically, you have to think of it as no more than 3 trades per any 5-day block. IE: I wouldnt be suprised if you get tagged as a daytrader making 3 trades on...

sounds like a decent idea- anybody up for writing one?

Yep- the old boys shut us down- Guess there really is such a thing as "The Man"

yes, I got that datek letter as well- Although it doesnt directly address this SEC rule- its obviously a setup for enforcing it..

I have a datek account and i havent heard a thing from them regarding this new rule- wonder when theyre gonna get around to telling people. Matter of fact, I'm gonna call them and ask them how they are going to handle it- maybe that will shed some light on things- if they don't seem too...

Example from '2000: http://www.mtrader.com/secupdate.htm

"I still can't believe this rule ever saw the light of day, and I get mad again everytime I read it. I have to keep asking myself if I really live in America. " Yeah tell me about it! I've been loking out my window to see if there are any tanks rolling down the street :) I'm just...

re: the new rule http://www.sec.gov/rules/sro/ny9948/nicoll1.htm

I just found this info at strategictraders.com: New NASD/SEC Rules Affecting Short-Term Trading The rule change will affect day traders. The rule defines a “day trader” as someone who buys and sells a stock in one day (known as a “round trip”) four or more times over a five-day...

goog god- let's hope you're wrong- that's just ridiculous! Isn't this *America*?

While we are on this subject- can someone explain to me once and for all how the symbols work with the futures? I know they are different for each quarter- etc etc Is their a different "futures" for the S/P than the Nasdaq? Can somebody list these symbols and explain when/how to use...

I believe you can get the futures you need by using Quotetracker, with the Quote.com data. Quotetracker is about as good a program as you'll ever see for free- register at quote.com and type your user/pass into quotetracker- you should be able to chart in realtime after that

Let me get this straight- you are saying that beginning sometime in Sept '01 that daytraders with accounts below $25,000 CAN'T USE MARGIN? You will either have to use your cash only, or bump your account up to $25k+? Is this TRUE? What is the logic there?

rtharp- Tony is a swing trader? I think you need to read the book again :) He goes out daily into the arena to pit himself against his mortal enemies- his swings his mighty sword on an intraday basis only holding his vigor until the next morn if the stock at hand has shown a close in the...

OK then- Tony Oz it is. Trading is about money. The goal is to make money, or *at least* keep it in your pocket. Tony's book and his seminar are pretty much the same thing. One costs $1700, the other is $100.

I don't want to come off like I'm ragging on Tony Oz- I found his books to be quite helpful in my first learning stages. I found his seminar to be inspiring, but to be perfectly honest, the same info as the new book. In my opinion, the live room is like Phase 2 after Tony's basics.. just...

trader88- no offense, just out of curiousity, but I'm wondering: if you aren't comfortable with Ken's trading style, what is it you hope to gain by attending an OZ seminar? If anything, Ken is clearer and more detailed/specific in his instruction, and he is pretty much a Tony Oz disciple...

I would recommend against it- Tony's seminar fees are just way too high for what he teaches- I mean, you're not going to learn to daytrade from just a couple lousy "group-session" days with a guy behind a podium, even if its Jesus Christ himself. I attended a $1500 Oz seminar, and thought it...