$25,000 minimum for daytrading needs to be changed

politicans and gov't bureacrats have no clue about market mechanics and require opinions from professionals like Goldman Sachs during their committe meetings.

these gov't bureaucrats have meetings and Goldman Sachs and market makers 'recommend' the new rules.

gov't politicians in other words have better things to do.

any rules is based on 'recommendations' by Goldman Sachs and recommendations from market 'experts'

one reason was the shootings t daytrading shops...this market is same as casino..or workplace shooting..

its same as banning casinos because people are losing money in casinos.

i assume the shooting was becasue the guy lost money it's more like workplace shooting or guy going postal on the company.

as previous poster said there are a lot assholes in these daytrading or prop trading 'arcades'


Quote from billyjoerob:

This is the VP of Gov't relations for NYSE. Send her a tweet.

http://twitter.com/raanderson
More...
 
Casinos exist because of taxation

We may see the stock transaction tax soon. In fact, it may save the market. By giving government incentive not to regulate it out of existence.
 
daytraders and traders just move to another jurisdiction or country to trade...if you want ban the trading industry.

majority of daytraders don't make money...that's the reality of the market..it's zero sum game for options and futures. and for daytrading. there are very few 'investors'

as for invetors they do it via private placements and doesn't go through the exchanges..so the open market is pretty much all traders. or daytraders. 90% of daily volume is daytrading volume or more


Quote from Jackshark:

Casinos exist because of taxation

We may see the stock transaction tax soon. In fact, it may save the market. By giving government incentive not to regulate it out of existence.
More...
 
Quote from brokenmarkets:

politicans and gov't bureacrats have no clue about market mechanics and require opinions from professionals like Goldman Sachs during their committe meetings.
More...

are you saying Goldman Sachs benefits from the PDT rule?
 
The reason the SEC created this rule was so that sophisticated investors understood the risks of day trading as though having 25K or more makes you a sophisticated investor???

Put any businessman with 25k into the markets and have him day trade and the money will disappear quicker than kid caught with his hand in the cookie jar. This is a senseless rule. Every time we have a bear market the SEC comes out with some sort of idiotic rule to "protect" the individual investor.

Another reason they mentioned is that if an investor has 25k it means that individual has enough discretionary cash to afford to lose the entire 25k. Again, idiotic.

But, after all, it was all that speculation that drove the stock market to such lows back in 2008, right? If it wasn't for those damn speculators! Let's charge them 1/4% tax on their profits and losses to slow them down a bit, or actually eliminate them completely. The likes of IB and TDAmeritrade would be closing their doors in a matter of weeks. The SEC at its finest. I'm not sure which is more corrupt -- the SEC or the FDA.
 
I would say so. Why would GS want to take money from a nickel and dime trader when they can take it from a guy with 25+K? The PDT rule ain't going anywhere. There's always futures. Thankfully the CFTC hasn't been swayed to institute such idiotic rules yet but seeing as GS is a heavy player in that market as well it wouldn't surprise me to see some sort of limitation come down the pipe. I think there has already been some mention of how many contracts a speculator can trade per month. Something like 26 or so? Not a problem, have a basket of stocks and register as a hedger.

Quote from olias:

are you saying Goldman Sachs benefits from the PDT rule?
More...
 
There's a new thread stating they want to require HFT's to perform MM duties to prevent flash crashes.

They're worried about liquidity?

They want HFTs to trade more and want traders with less than 25k to trade less.

Like I said in the other thread, it's so stupid it's not even worth trying to figure out.

http://uk.reuters.com/article/2011/02/04/us-sec-schapiro-idUKTRE71346H20110204?pageNumber=1

"We are examining trading or other obligations that might be required of today's de facto market makers: the high-frequency traders,"
More...

I'll tell you where you can find more liquidity........:confused:
 
You must log in or register to reply here.
Back
Top