pattern day traders going to$75,000 minimum

Quote from businessstaxes:

if can't make profit with $20,000 yoiu won't make a profit with $75,000

teh reason they raised that amount is because that is the average size or the maximum saving people have. these guys have the records and size of all customers. and even have access to your back account via lexus nexus,,these guys know everything about your netwothe etc.

the min. $25,000 was too small and they want more money.

it's sucking people dryof their savings just to daytrade. 80% of the money don't leave walls street black hole.

the gov't is stuck with their money in the wall street black hole.
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Again this rule will only effect traders who trade leveraged ETF's. The standard 25K PDT (which in itself is stupid) isn't changing.

-Guru

P.S. Geithner said no to a FTT again today...
 
My broker, TradeStation, increased the day trading margin from 25% to 60% for 2x (UYG, URE), and to 90% for 3x (FAS, DRN), but never told me anything about PDT going from $25000 to $50000 or $75000. How does this work. If you put on a trade in URE for example, do you need at least $50000 in your account while the trade is on?
I cannot find anything on the FINRA website.

As of today I am still able to trade UYG and URE with less than $50000 in my account.
 
Quote from listedguru:

Again this rule will only effect traders who trade leveraged ETF's. The standard 25K PDT (which in itself is stupid) isn't changing.

-Guru

P.S. Geithner said no to a FTT again today...
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Good points, LG. As you already said, this thread title is very misleading.

Would add that I'm a bit surprised that this PDT crap hasn't landed in the supreme court yet.
 
Quote from telozo:

My broker, TradeStation, increased the day trading margin from 25% to 60% for 2x (UYG, URE), and to 90% for 3x (FAS, DRN), but never told me anything about PDT going from $25000 to $50000 or $75000. How does this work. If you put on a trade in URE for example, do you need at least $50000 in your account while the trade is on?
I cannot find anything on the FINRA website.

As of today I am still able to trade UYG and URE with less than $50000 in my account.
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?

so what happebed? rule not implemented yet?:confused:
 
the minimum is going to stay at 25k for day trades ..however, in order to have a day trade account,you must be licensed with a series 7.this is what they are poushing now and i am hearing it is getting support big time. someone at the major brokerage firm said it. the brokerage firm is pissed because they make money off individual accounts but they are lobbying hard witht he hopes of ending all the "wild west" style trading. this is brand new and i am just hearing about it. also,ALL LLC's will need ALL Licensed traders,no more loop holes with hedge fund structures ect...
the days of an aveage JOE opening an account with 25k and then day trading are over unless he is licensed. this sucks..
the good news is they will only need a 7 not all the other bs.
 
Quote from riddler:

the minimum is going to stay at 25k for day trades ..however, in order to have a day trade account,you must be licensed with a series 7.this is what they are poushing now and i am hearing it is getting support big time. someone at the major brokerage firm said it. the brokerage firm is pissed because they make money off individual accounts but they are lobbying hard witht he hopes of ending all the "wild west" style trading. this is brand new and i am just hearing about it. also,ALL LLC's will need ALL Licensed traders,no more loop holes with hedge fund structures ect...
the days of an aveage JOE opening an account with 25k and then day trading are over unless he is licensed. this sucks..
the good news is they will only need a 7 not all the other bs.
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but a bit stupid, there are many foreigners with day trading accounts too? all have to take the 7?

this dosent make sense
 
Quote from riddler:

the minimum is going to stay at 25k for day trades ..however, in order to have a day trade account,you must be licensed with a series 7.this is what they are poushing now and i am hearing it is getting support big time. someone at the major brokerage firm said it. the brokerage firm is pissed because they make money off individual accounts but they are lobbying hard witht he hopes of ending all the "wild west" style trading. this is brand new and i am just hearing about it. also,ALL LLC's will need ALL Licensed traders,no more loop holes with hedge fund structures ect...
the days of an aveage JOE opening an account with 25k and then day trading are over unless he is licensed. this sucks..
the good news is they will only need a 7 not all the other bs.
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that is the nanny state you americans voted for.
 
Quote from zdreg:

as to the tilte you are entitled to your opinion but your advice is not accepted as it is erroneous.

"Most traders who use leveraged ETFs don’t do so in margin accounts, according to Andy O’Rourke, director of marketing at Newton, Mass.-based Direxion, a purveyor of geared ETFs that mostly offers investors triple the exposure to its underlying indexes."

this statement would be true even if a large proportion of the volume in ETF leveraged trades were done by prop traders who have access to leverage greatly exceeding the 4:1 leverage allowed public customers.
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Geez Zdreg. In the context of who this rule will effect, the traders being referred to are retail customers.

You're trying too hard.

You're such an attention loving drama queen. Explains why you wrongly titled your thread. And that's being kind, giving you the benefit of the doubt.
 
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