a guy who is a pretty good trader and only has limited funds is exempt from daytrading because he needs 25k according to the rules.this rule is supposed to "protect investors"(bullshit). then you have a guy with absolutely no trading experience but happens to have 30k given to him by his father,confirmation/graduation money ect...this is so unfair it's obscene and in my opinion discrimination.
pattern daytrade rule discrimination ???
- Thread starter razor99
- Start date
the rule was made in order to protect investors..thats utter nonsense..more guys get hit because of the rule. how is a guy with 30k given to him a better trader than a guy who only has 5k to trade with and has been trading for a few years! its ridiculous and goes to show this rule was implememnted just to make it appear the SEC was regulating..it actually hurts more people.in theory one can file a discrimination suit. of course it would be tough but it would recieve attention. whats next,the SEC is going to require daytraders to have colege degree's or a series 7! what funny is that most successful traders do not have a series 7 and can trade circles around those that do. this 25k rule has got to change it really is discrimination.
Who is being discriminated against, PIKERS such as yourself?
As the OP suggested, trade futures with your 5 Grand until you get the account up to $25K.
Do you even know what futures are?
http://www.cme.com/edu/
ebo
As the OP suggested, trade futures with your 5 Grand until you get the account up to $25K.
Do you even know what futures are?
http://www.cme.com/edu/
ebo
I gave you an out. So, your continuation of crying about the rule will do you no good. You can get in line with the rest of people crying about it.
It like saying I should'nt have to have auto insurance because I am really good driver and can drive circles around everyone else. The are laws and although many of us might not like them... They are what they are! Either adapt or move on.
It like saying I should'nt have to have auto insurance because I am really good driver and can drive circles around everyone else. The are laws and although many of us might not like them... They are what they are! Either adapt or move on.
The logic is that you do not have $25,000 in cash you have probably not been that successful in other endeavors in your life and will probably not be that successful daytrading.
Why do people think they will be successful trading if they do not have the discipline, key ingredient to being a successful trader, to go out and make $25,000? Get another job or two, work your ass off for a couple of years, you will be a much better trader for it.
Why do people think they will be successful trading if they do not have the discipline, key ingredient to being a successful trader, to go out and make $25,000? Get another job or two, work your ass off for a couple of years, you will be a much better trader for it.