pattern day trader - the ARROGANCE rule

[Egodude]

Quote from hughb:

The NASD got tired of it and forced brokers to enforce rules that WERE already on the books with a new rule. That's right, you weren't allowed to daytrade stocks to begin with, it was just never enforced. Brokers began enforcing it when the NASD started fining them.

Umm I dont know where you got this info from. Show me where it said you are not allowed or put any limit on day trading in a margin account before this rule.

To my knowledge, there was no limit on day trading in a margin account before nasd rule 2520 (pattern day trader rule) in 2001.

I would really like to see where you are getting your info from cause it never heard anything like that before.