Hit by IB (and SEC)

Quote from NoMoreOptions:

A hit, you are not the first one and certainly will not be the last. It is not only a SEC problem but also an IB. Yes IB!!!

No More.
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I was waiting for QDZ to weigh in on this, complete with inaccurate remarks.
 
Quote from NoMoreOptions:

A hit, you are not the first one and certainly will not be the last. It is not only a SEC problem but also an IB. Yes IB!!!

No More.
More...

Agree,

I have traded with many firms and we all know that certain things happen.

But some line should never be crossed.
 
I don't think we should be picking on IB. IB's SRO is the NYSe which has chosed to interpret the PDT a certain way probably more restrictive than other SRO's. Maybe other brokers which are not NYSe members would have different interp of the PDT law.
 
Quote from ROCK SOLID:

REPEAL THIS PDT CRAP NOW.

ROCK
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I second the motion --- these laws lag so far behind the situation.

By the time the PDT crap came out they should have been legistlating the accounting bs that tore up the market a few weeks after...

:confused:
 
Quote from GATrader:

I don't think we should be picking on IB. IB's SRO is the NYSe which has chosed to interpret the PDT a certain way probably more restrictive than other SRO's. Maybe other brokers which are not NYSe members would have different interp of the PDT law.
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But the rules are the rules, I can take.

But the way how they implemented them is absolutely not acceptable.
 
Quote from PuffyGums:



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I thought IBs system made it impossible to enter the final trade that may or may not violate the daytrader pattern rule (depending on when you exit)? Guess with certain option plays, the system can't catch it yet.

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Just open lets say ten positions on the same day. Now close them all later on the same day....
 
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