43% of retail investors are trading with leverage based on survey

[Gaslight Capital]

And yet there is a crackpot lawyer trolling the site who wants to sue in order to eliminate the minimum account equity rule for PDT margin accounts.

My understanding is he isn't wanting to sue to get the day trade margin applied to lower equity accounts. He wants the PDT 3 day trade in 5 days restriction removed. I agree with that stance. It is anti-capitalist to tell someone when and how often they can deploy his or her capital in the capital markets.

 

[Gaslight Capital]

Worst casting since "Margin Call" save for Bettany. He was excellent.

It is a great book. Terrible movie.

 

[destriero]

It is a great book. Terrible movie.

There was a book?!

It was surreal how bad it was save for Bettany's acting. Dude was the movie. They didn't even mention the copula or how it became this lightbulb moment. Just poorly, poorly written (albeit PB's dialogue was good).

Nobody can run VaR or vol-shift on a portfolio. Hmm, sure, ok.

 

[Gaslight Capital]

There was a book?!

 

[destriero]

No my last was referring to Margin Call, the film. TBS was a great book. The movie was a bit linear.

 

[bone]

I am hardly an expert on stock trading, far from it. I get both sides of the argument. FINRA, NASD, and NYSE are SRO’s and they can set their own equity and risk rules. And for that matter Brokers can set more conservative margin and capital requirements.

My sense is that if the PDT rule was somehow overbearing that with all of the political clout the trading exchanges and Wall Street possessed that it wouldn’t be a big ask to change the rule.

My understanding is he isn't wanting to sue to get the day trade margin applied to lower equity accounts. He wants the PDT 3 day trade in 5 days restriction removed. I agree with that stance. It is anti-capitalist to tell someone when and how often they can deploy his or her capital in the capital markets.

 

[Gaslight Capital]

Ahhhh ... wait, was Bale in both of them? I admit I am not much of a movie guy.

 

[Gaslight Capital]

My sense is that if the PDT rule was somehow overbearing that with all of the political clout the trading exchanges and Wall Street possessed that it wouldn’t be a big ask to change the rule.

I think the exchanges want the rule in place to cut down on administrative costs. They don't want to have to clean up after a bunch of 10 lot day traders each day.

 

[Bugsy]

Ahhhh ... wait, was Bale in both of them? I admit I am not much of a movie guy.

Naw, Bale wasn't in Margin Call.

 

[Gaslight Capital]

Naw, Bale wasn't in Margin Call.

I should really lay off the social media while trading. I didn't read this very carefully.

The Big Short is a great book though. I didn't really enjoy the movie.