You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an alternative browser.
You should upgrade or use an alternative browser.
pattern daytrade rule discrimination ???
- Thread starter razor99
- Start date
arrogance? i dont think so. if someone is good trader, then they would not be stuck with a below 25K account that long. it;s nearly impossible to be profitable with 5k. i thought it was a couple years ago. but it's not. but you can swing trade and if u claim to be as good as u r, u will have more than 25k in no time.
Quote from bsparkyman:
Doesn't pattern day trading only apply to margin accounts? If so this is not your capital, it is borrowed. I may be mistaken as I do not need margin but thought that was the rule. I am sure you will let me know otherwise if it is not.
Good Point. So since this is the case, why not leave the
decision up to the broker who is supplying the margin
instead of have it regulated by a governing body?
I don't feel they have the right to impose their regulations
on us like this.
EpiphanyTrading
ET Sponsor
Stylark3, you are wrong. They do have the right however I believe that their logic and motivations are lacking productivity.
A similar situation is the existence of rules preventing under capitalized individuals from investing in hedge funds.
I am one who believes is small government. Markets operate most efficiently when fair trade has minimal restrictions.
A similar situation is the existence of rules preventing under capitalized individuals from investing in hedge funds.
I am one who believes is small government. Markets operate most efficiently when fair trade has minimal restrictions.
Quote from razor99:
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.
You should get the ACLU and/or Jesse Jackson involved.
Affirmative Action for day traders.
EpiphanyTrading
ET Sponsor
Or, you can always get involved with an organization that can provide you with the capital that you need!!!
Quote from razor99:
i posted this in response to another board member's frustrations. i have 25k but feel strongly that trader's with under 5k are discriminated against. instead of getting support for undercapitalized traders'this post was met with arrogance and nothing of any substance.
discriminated against? well that is why they set the rule. Get a job save fifty thousand to one hundred thousand then put five thousand up. If you know this game 5k can be gone very quick. Stock halt, bad news(long), good news(short) this can happen in seconds. Traders can go years making a nice small living and have one bad thing happen and then they are gone and sometimes with a huge debt.
It is hard for me to believe that this question you asked is not about your situation. You have taken things way to personal. There is a reason everyone doesn't trade for a living. Use an llc and if you don't have a nice savings account just be careful. This game can ruin your life if you let it.
Quote from razor99:
i posted this in response to another board member's frustrations. i have 25k but feel strongly that trader's with under 5k are discriminated against. instead of getting support for undercapitalized traders'this post was met with arrogance and nothing of any substance.
Arrogance? On whose part, yours?
You come here and post that the PDT discriminates against the small trader. You state the small trader can be just as good as the large trader. Great, then let them prove it. There are many traders who have BUILT UP THEIR CAPITAL OVER TIME. PERIOD. The best virtue you can have in this business is patience. You obviously lack this.
If you truly have the edge and are a good trader, you will build up your capital over time and will be beholden to no one. Instead you come here and ARROGANTLY state that somehow the rules that apply to everyone else should not apply to you. You state that you are a good trader yet lack the capital to avoid the PDT. How can this be?
Show some patience. Show some discipline. Realize that anything worth having you must work for.