$25,000 minimum for daytrading needs to be changed

I might be wrong, but I think "they" passed this rule cause folks were getting shot inside brokerages. Those who are underfunded tend to be more emotional about losing money and often find out their fantasy of easily going to make profits are a bit tougher than they envisioned. We now live in a world that so many don't have the balls to say it was their own fault as to why they lost and rather blame it on someone else, like the brokerage they were trading at. I think the rule is good, it forces many who shouldn't really be trading as in underfunded to either save up or look to trade in a longer term fashion till they acquire more experience.

My experiences have shown me that underfunded traders often can't purchase data to do backtesting, lack backtesting skills, and have read a couple books and have no real trading skills. I detest hearing so many lose all there money repeatedly cause some vendor sold them a bunch of lies and fantasies.
 
I heard it was the DTCC as well. However, with HFTs and such, that argument means nothing. HFTs can place thousands in a day and people with less than 25k can't do 4 in one week. You know, maybe that guy who said he was going to shoot up the SEC went over board, but it's hard not to understand where he's coming from sometimes. These regulators really are a mess.
 
Quote from Handle123:

I might be wrong, but I think "they" passed this rule cause folks were getting shot inside brokerages. Those who are underfunded tend to be more emotional about losing money and often find out their fantasy of easily going to make profits are a bit tougher than they envisioned. We now live in a world that so many don't have the balls to say it was their own fault as to why they lost and rather blame it on someone else, like the brokerage they were trading at. I think the rule is good, it forces many who shouldn't really be trading as in underfunded to either save up or look to trade in a longer term fashion till they acquire more experience.

My experiences have shown me that underfunded traders often can't purchase data to do backtesting, lack backtesting skills, and have read a couple books and have no real trading skills. I detest hearing so many lose all there money repeatedly cause some vendor sold them a bunch of lies and fantasies.
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Then why do they allow option and future trades? If they were worried about under-funded traders they would implement a $25,000 minimum on ALL trading accounts.
 
Quote from Handle123:

I might be wrong, but I think "they" passed this rule cause folks were getting shot inside brokerages. Those who are underfunded tend to be more emotional about losing money and often find out their fantasy of easily going to make profits are a bit tougher than they envisioned. We now live in a world that so many don't have the balls to say it was their own fault as to why they lost and rather blame it on someone else, like the brokerage they were trading at. I think the rule is good, it forces many who shouldn't really be trading as in underfunded to either save up or look to trade in a longer term fashion till they acquire more experience.

My experiences have shown me that underfunded traders often can't purchase data to do backtesting, lack backtesting skills, and have read a couple books and have no real trading skills. I detest hearing so many lose all there money repeatedly cause some vendor sold them a bunch of lies and fantasies.
More...
there's so many things wrong with what you just said idk where to start with you. Maybe you're drunk.....?
 
Yes, the PDT needs to be raised. It's has saved much heartache and loss from the gambler class. If you don't gave the chips stay out of the game.
 
Quote from Handle123:

I might be wrong, but I think "they" passed this rule cause folks were getting shot inside brokerages. Those who are underfunded tend to be more emotional about losing money and often find out their fantasy of easily going to make profits are a bit tougher than they envisioned. We now live in a world that so many don't have the balls to say it was their own fault as to why they lost and rather blame it on someone else, like the brokerage they were trading at. I think the rule is good, it forces many who shouldn't really be trading as in underfunded to either save up or look to trade in a longer term fashion till they acquire more experience.

My experiences have shown me that underfunded traders often can't purchase data to do backtesting, lack backtesting skills, and have read a couple books and have no real trading skills. I detest hearing so many lose all there money repeatedly cause some vendor sold them a bunch of lies and fantasies.
More...

I don't buy this. While I would agree that underfunded traders normally (but not always) lack a certain understanding of markets/trading, they should be able to spend their money any way they want. I don't know anything about speedboats, but if I want to spend all of my money on one, I can.

There may be other viable reasons for the minimum $25K, but simply to protect the trader from wasting money on something because they are "undereducated" is total BS.
 
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