Decline in traders

[Turveyd]

Assuming that's true (I have my doubts), you just made the worst financial decision of your life not compounding that for a year for a sweet 130 times as much money/income. [Disregarding potential concerns about microcap liquidity/non-scaling.]

I kinda had to live off it kinda got a bit spendy ( Fit LOL ) and had no idea they where going to pull it 18years on still pissed off!!

Don't get me wrong hard work, 18hour days with all the research and checking 100's of charts then watching market live pretty much US Pre Open to Close.

Full time for a year had to take contracts on again, sucked

Remember 3K USD for only worth £1600 UK back then, crazy 1.85 area exchange rate.

Wasn't Micro Cap, All $5+ stocks and high volume, got burned too often on Micro Cap crap.

 

[Specterx]

it was because daytraders were making too much money off the market makers. that is why the $25,000 min.. they know most people don't have $25,000 daytraders were competition. so the SEC works for the market makers who were complaining. you were competing with them. the rule change was for their benefit. and they still have that rule PDT for 18 years.

What a ridiculous argument. Sure, the SEC stepped in to protect Wall Street quant firms and their armies of Ph.Ds from small-time retail pikers who can't even scratch together 25k.

The reality is that said small-time pikers are just fish food for MMs and HFTs. Why do you think HFT firms pay Robinhood so much for its order flow?

 

[Turveyd]

What a ridiculous argument. Sure, the SEC stepped in to protect Wall Street quant firms and their armies of Ph.Ds from small-time retail pikers who can't even scratch together 25k.

The reality is that said small-time pikers are just fish food for MMs and HFTs. Why do you think HFT firms pay Robinhood so much for its order flow?

There was millions of us literally all the firms only make money cause of retail losses, they don't lose well rarely if they did they wouldn't be in business, they merely fight over there slice of retail losses.

They didn't stop us trading merely forced us to hold over night so they could kill us with gaps and expose us to news.

Holding over night just always through the profits away

 

[Zithiel89]

This format can significantly damage the ranks of traders, now you really have to deal with Forex on a professional level and not to do anything nonsense...

 

[wrbtrader]

I was making good money from a 6k account, 3k per month (25% with margin ) mainly on girl next door, fit as, had 2 weeks notice on PDT no chance i could raise the cash ever, went Options did okay 3months, blew up then Forex.

That girl next door you spent 3k per month on...

In less than a year you would have had the money to continue trading stock regardless to the PDT rule. Thus, you would have never traverse into Options and then Forex.

Where's that girl today in your life and was she worth it ?

wrbtrader

 

[Turveyd]

That girl next door you spent 3k per month on...

In less than a year you would have had the money to continue trading stock regardless to the PDT rule. Thus, you would have never traverse into Options and then Forex.

Where's that girl today in your life and was she worth it ?

wrbtrader

Not all of the 3K maybe 1K, 18years on, she's old these days, worth it at the time, ohhh yes LOL

I had 2 weeks from hearing about the rule to it being in place, so kinda irrelevant.

And I didn't need more than 6K that was stressful enough so I took profits above out and just traded 6K for a wage, money doesn't really interest me that much.

 

[Pekelo]

First

Is there a question here, or are you just ruminating?

Second, with the introduction of Robin Hood (option approval to every idiot) and mini futures it is easier to gamble for every kid with a few hundred bucks more than ever. Infinite margins and the popularity of big gains and losses on Reddit are just fuel to the fire. Throw in the crazy run up of the cryptos and everybody is suddenly a trader.

So your assumption is wrong. There are more "traders" than ever.

Fuck, you don't even need a computer anymore, just an app on your phone.