Pattern Daytrading Poll (Continued)
- Thread starter qdz2
- Start date
Remeber this? Unfortunately since it was not blocked at the begining, the special interest groups carry on. These bastards are the same as Enron and WCom f8cks.
.................the PDT rules
....................../´¯/)
....................,/.¯./
..................../..../
.................../..../
................../..../
................./..../
............/´¯ '...'/´¯¯`·¸
........./'/.../..../......./¨¯\
........('(...´...´.... ¯~/'...')
.........\.................'...../
..........''...\.......... _.·´
............\..............(
..............\.............\...
...............\.............\...
.................the PDT rules
....................../´¯/)
....................,/.¯./
..................../..../
.................../..../
................../..../
................./..../
............/´¯ '...'/´¯¯`·¸
........./'/.../..../......./¨¯\
........('(...´...´.... ¯~/'...')
.........\.................'...../
..........''...\.......... _.·´
............\..............(
..............\.............\...
...............\.............\...
you are a loser........CAN I PLEASE BE YOUR PERSONAL MARKET MAKER??????
Ill tell you what
Ill do all your trades for free, as long as I can take the other side
Ill do all your trades for free, as long as I can take the other side
The best way to give the finger to the PDT rules is to stop trading stocks and options!
Get into Single Stock Futures and the E-minis.
The PDT rules stink, but you must evolve. The stock market is not a static swimming pool, it is a vast ocean. You must learn to handle the tides and the storms, and adapt, to be able to sail it. There are plenty of bigger, better, easier-to-catch fish in this ocean than stocks and the wily slippery Options eel.
Get into Single Stock Futures and the E-minis.
The PDT rules stink, but you must evolve. The stock market is not a static swimming pool, it is a vast ocean. You must learn to handle the tides and the storms, and adapt, to be able to sail it. There are plenty of bigger, better, easier-to-catch fish in this ocean than stocks and the wily slippery Options eel.
A vote in favor of the PDT rule for the following reasons.
1) If you donât have at least $25,000 you are under capitalized.
2) It will make you a better trader. If you only have 3 trades per week you will tend to be more selective with your trades. Patience is an excellent quality for a trader to have.
3) If you use all three trades on Monday, then you have the rest of the week to work on improving your system with out the distraction of the market.
4) If you have three winning trades per week you will soon have enough to get out from under the PDT rule. If you have three losing trades you need time to reassess your system.
5) I hate it when anyone comes up with a rule that protects me from myself. Somewhere along the line somebody, or a bunch of somebodyâs, lost all their money and blamed it on the fact that his broker let him trade it away. I donât think that this rule came from the people who make money every time you make a trade.
Em are the rules. Take it or leave it but stop whining. You and only you are responsible for your results. Until you accumulate enough to be exempt from the rule develop a better system for playing the game. Change your strategy, look at swing trading or use only setups with a very high probability of success. You only get three trades a week, you might as well wait for the best ones.
1) If you donât have at least $25,000 you are under capitalized.
2) It will make you a better trader. If you only have 3 trades per week you will tend to be more selective with your trades. Patience is an excellent quality for a trader to have.
3) If you use all three trades on Monday, then you have the rest of the week to work on improving your system with out the distraction of the market.
4) If you have three winning trades per week you will soon have enough to get out from under the PDT rule. If you have three losing trades you need time to reassess your system.
5) I hate it when anyone comes up with a rule that protects me from myself. Somewhere along the line somebody, or a bunch of somebodyâs, lost all their money and blamed it on the fact that his broker let him trade it away. I donât think that this rule came from the people who make money every time you make a trade.
Em are the rules. Take it or leave it but stop whining. You and only you are responsible for your results. Until you accumulate enough to be exempt from the rule develop a better system for playing the game. Change your strategy, look at swing trading or use only setups with a very high probability of success. You only get three trades a week, you might as well wait for the best ones.
All good points, Boib, except #5 isn't really "in favor of the PDT rules", is it.
Trying to develop successful trading strategies and habits with the PDT rules hanging over your head is like trying to learn to ride a bicycle while someone keeps trying to jam a stick between the spokes of your wheels.
I maintain that SSF are a much better way to develop successful trading strategies than PDT-handicapped stocks and options.
And guess what? (At Interactive Brokers, at least) If you have an account with a million dollars in it, and you decide to buy $980,000 worth of stock options, your million-dollar account will be subjected to the PDT rules. What sense does that make? Are you under-capitalized, with $1,000,000?????
Trying to develop successful trading strategies and habits with the PDT rules hanging over your head is like trying to learn to ride a bicycle while someone keeps trying to jam a stick between the spokes of your wheels.
I maintain that SSF are a much better way to develop successful trading strategies than PDT-handicapped stocks and options.
And guess what? (At Interactive Brokers, at least) If you have an account with a million dollars in it, and you decide to buy $980,000 worth of stock options, your million-dollar account will be subjected to the PDT rules. What sense does that make? Are you under-capitalized, with $1,000,000?????
