You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an alternative browser.
You should upgrade or use an alternative browser.
$25,000 minimum for daytrading needs to be changed
- Thread starter Nostradamus357
- Start date
PDt is a godsend.
Daytrading is a zero sum game. Lots of lsoers, few winners, like poker.
Just because a few win doesnt give the right to make many lose. They will feel duped, like me.
That said, they should implement PDT for futures account too. It is already implemented for options, unlike previous posters thought iit hadnt.
Daytrading is a zero sum game. Lots of lsoers, few winners, like poker.
Just because a few win doesnt give the right to make many lose. They will feel duped, like me.
That said, they should implement PDT for futures account too. It is already implemented for options, unlike previous posters thought iit hadnt.
Quote from failed_trad3r:
PDt is a godsend.
Daytrading is a zero sum game. Lots of lsoers, few winners, like poker.
Just because a few win doesnt give the right to make many lose. They will feel duped, like me.
That said, they should implement PDT for futures account too. It is already implemented for options, unlike previous posters thought iit hadnt.
So your logic is , I can't day trade a small account therefore nobody else should be allowed to? I would think there have been a few traders who have successfully taken a small account to over 25k, however I agree is easier to start with a decent nut.
Quote from cyoungmark:
agreed. Unless your swing trading, Your going to have a hard time making any money day trading 25k, unless your trading penny stocks..
Are you saying this because of the PDT rule? Or because of the cost of trading represents a large proportion of your position on a trade?
Quote from mark_mm:
So your logic is , I can't day trade a small account therefore nobody else should be allowed to? I would think there have been a few traders who have successfully taken a small account to over 25k, however I agree is easier to start with a decent nut.
lol thats not my logic at all learn to read. In fact I know how to make money daytrading, which is being better than other traders. I said daytrading is a zero sum game just like poker. de PDT is a godsend because people need to be protected from entering a zero-sum game like daytrading. Especially because there are so many people now fleecing newbies through futures, because doing so through stocks is harder now.
I bet you cant even name one guy who started with $1000 in 2007 and turned it into $100k+ with futures and still has it. Where are all the newbies who made mega millions in 2008? ET has gone quiet as the newbies came and went until the next bear market.
Quote from failed_trad3r:
lol thats not my logic at all learn to read. In fact I know how to make money daytrading, which is being better than other traders. I said daytrading is a zero sum game just like poker. de PDT is a godsend because people need to be protected from entering a zero-sum game like daytrading. Especially because there are so many people now fleecing newbies through futures, because doing so through stocks is harder now.
I bet you cant even name one guy who started with $1000 in 2007 and turned it into $100k+ with futures and still has it. Where are all the newbies who made mega millions in 2008? ET has gone quiet as the newbies came and went until the next bear market.
I see, so someone with 25k or more to trade magically becomes a better trader than someone with 10k. Seems arbitrary to me, how did they come up with 25k what's the reasoning?
//////////////////////////////////////////////////////////////////////
Jackshark
01-26-11 08:54 AM
The fact is you really can't make money with an account under 25k outside of prop shops.
////////////////////////////////////////////////////////////////////////
You do not know what you are talking about. I'm considered a PDT but don't yet have my 25K back in my account. Not only ever month but every week I make money. I have been trading for a long time but for reasons I don't want to explain, I dropped below 25k in my account. It was not from a loss. I had to take money out of my trading account to put toward another investment. Since I am making $1500 and $2000 a month I can get back to trading every day as many times as I want in another month or so.
don
Jackshark
01-26-11 08:54 AM
The fact is you really can't make money with an account under 25k outside of prop shops.
////////////////////////////////////////////////////////////////////////
You do not know what you are talking about. I'm considered a PDT but don't yet have my 25K back in my account. Not only ever month but every week I make money. I have been trading for a long time but for reasons I don't want to explain, I dropped below 25k in my account. It was not from a loss. I had to take money out of my trading account to put toward another investment. Since I am making $1500 and $2000 a month I can get back to trading every day as many times as I want in another month or so.
don
Quote from mark_mm:
I see, so someone with 25k or more to trade magically becomes a better trader than someone with 10k. Seems arbitrary to me, how did they come up with 25k what's the reasoning?
it is arbitrary it is meant to make the pond smaller. Not all people have 25k alot have just 5k. smaller pond means less fried newbies.
Quote from failed_trad3r:
it is arbitrary it is meant to make the pond smaller. Not all people have 25k alot have just 5k. smaller pond means less fried newbies.
So newbie raises 20k from family/friends then blows that, now they are in debt. Better to let someone blow a small amount before they realise they aren't going to be successful.
Day Trading is a business run by the PDT rule, where you must keep your balance sheet under 25K daily. This rule is anti small business in nature and need to be repeal.
Repealing Pros:
--Small business can be create by just by open a brokerage account, the owner effectively be come self-employ ..create a job.
--Job!, Job!, Job! ....thousand of them will be created without spending any Stimulus dollars.
--Unemployment rate will drop dramatically..perhaps overnight
--Stop jobs and business from leaving US to for Oversea
--Stop Money flow out of US Market
-- Increased Exchanges volume, more revenue for Exchanges and brokerage firm base on transactional cost.
--Stop abuse and fraud from prop firm taking risk deposit with Master and Sub Account Model
Cons:
Every One invited to add their opinion here
Cheer!
Repealing Pros:
--Small business can be create by just by open a brokerage account, the owner effectively be come self-employ ..create a job.
--Job!, Job!, Job! ....thousand of them will be created without spending any Stimulus dollars.
--Unemployment rate will drop dramatically..perhaps overnight
--Stop jobs and business from leaving US to for Oversea
--Stop Money flow out of US Market
-- Increased Exchanges volume, more revenue for Exchanges and brokerage firm base on transactional cost.
--Stop abuse and fraud from prop firm taking risk deposit with Master and Sub Account Model
Cons:
Every One invited to add their opinion here
Cheer!