I like the rule, because guys with families are not taking into account the family, many have become addicted to stock day trading and like an addict, can't stop. Why should general public have to be paying for their mistakes when they bust out and we have to pay of government welfare programs. If you don't have the funds, save till you do and keep studying.
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any broker with no pattern day trading rules
- Thread starter Reymond
- Start date
stop daytrading stocks and start daytrading futures, you can get as much as 50x leverage out there; with stocks you get 4x max and have restrictions
While I agree with much of what you said, however wanted to note that the PDT rule applies to options as well.
You're right. I checked and options are covered. However, one could kinda get around the PTD rule with options. They just start buying OTM options day of expiration for real cheap. If the option goes ITM, they can sell for profit otherwise just let it expire worthless. So one would only be taking profit on profitable trades.
I like the rule, because guys with families are not taking into account the family, many have become addicted to stock day trading and like an addict, can't stop. Why should general public have to be paying for their mistakes when they bust out and we have to pay of government welfare programs. If you don't have the funds, save till you do and keep studying.
Humm...or require people to have at least a certain amount of money / security in order to have kids so that the public doesn't have to bail out an entire family. ;-) Or how about not selling alcohol / cigarettes to people on food stamps / welfare? I guess I don't really have a problem with the PDT rule as long as the same logic and safeguards get applied uniformly across other areas of potential addiction / hazard.
Humm...or require people to have at least a certain amount of money / security in order to have kids so that the public doesn't have to bail out an entire family. ;-) Or how about not selling alcohol / cigarettes to people on food stamps / welfare? I guess I don't really have a problem with the PDT rule as long as the same logic and safeguards get applied uniformly across other areas of potential addiction / hazard.
How about drug tests for anyone who gets help from government. I remember in the 1960s, the government had a store, and they had like thirteen items you would get, the basics, flour, hamburger, sugar, butter, raw veggies etc... you had to go each week to get your allotment, better then, but now steak and lobsters, frozen pizzas, TV dinners, tons of bakery goods, soft drinks, just no candy, unless you go to baking aisle and get all of those sweets you want.
You can day trade with smaller account, but divide funds up by five and take one trade a day, won't that be viable?
Has suretrader been fined by SEC or FINRA?
Suretrader and Trade Zero wouldn't be fined. They are not regulated by the SEC because they are in the Bahamas. Consequently, your money would not be insured by the SEC, so they could just keep it an you'd have no recourse, but they want to keep getting new customers, so they will probably behave.
Last I saw, Sure Trader has an IP address identifier saying that they can't take new US business, but current customers may still log in, so these probably get served a notice and then have to take that step, so Trade Zero may not last long for new sign ups