He is a scholar. It was after the crash of 1929. You (and everyone trading) should read the book "The Great Game" about the history of the stock market. It is a terrific book.
Pattern Daytrading poll
- Thread starter hii a_ooiioo_a
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He is a scholar. It was after the crash of 1929. You (and everyone trading) should read the book "The Great Game" about the history of the stock market. It is a terrific book.
guys,
see at the bottom right of ET where it says: "send this thread to a friend"
click on it and send it to chairmanoffice@sec.gov
let's show him our poll.
i know the SEC claims they didn't MAKE the pdt rules.......but they sure did APPROVE them.....what a bunch of bs........ they wouldn't have been MADE if you didn't APPROVE them, SEC.
see at the bottom right of ET where it says: "send this thread to a friend"
click on it and send it to chairmanoffice@sec.gov
let's show him our poll.
i know the SEC claims they didn't MAKE the pdt rules.......but they sure did APPROVE them.....what a bunch of bs........ they wouldn't have been MADE if you didn't APPROVE them, SEC.
I think the 29 people who voted for "I like seeing the little guy get screwed by these rules" probably are connected to the SEC and NASD and NYSE.
If we send e-mails to the chairman of the SEC, who are we sending them to? Harvey Pitt? Has he cleaned out his office yet? Does he really give a damn about any of it anymore? Do we know who is replacing him?
And as for the approval process, the PDT rule (without mention of stock options) was submitted for public comment from February 18, 2001 to Februray 27, 2001. Wow, 9 whole days. As if most of us would have known about it anyhow.
And February 18, 2001 & February 25, 2001 were sundays.
If we send e-mails to the chairman of the SEC, who are we sending them to? Harvey Pitt? Has he cleaned out his office yet? Does he really give a damn about any of it anymore? Do we know who is replacing him?
And as for the approval process, the PDT rule (without mention of stock options) was submitted for public comment from February 18, 2001 to Februray 27, 2001. Wow, 9 whole days. As if most of us would have known about it anyhow.
And February 18, 2001 & February 25, 2001 were sundays.
Though PDT doesn't affect me, the new SEC heads name is William H. Donaldson.
A word about process - the SEC chief doesn't actually read your letters or email. His assistants do. They then compile them and at a monthly meeting they may say - we have had a lot of mail on the PDT rule.
To do it right, take the time to write a snail mail letter and copy your Congressman.
If you are really motivated, call the SEC and find out who the assistant is who handles questions on PDT. Maybe you can actually talk to the guy or have an email conversation with him or her to find out if they are aware of the problem and what the chances are of loosening up the rules. It will be a lot easier to talk to a low level guy who will probably be more on top of the topic.
Good luck. Don't give up, just redirect your energy.
A word about process - the SEC chief doesn't actually read your letters or email. His assistants do. They then compile them and at a monthly meeting they may say - we have had a lot of mail on the PDT rule.
To do it right, take the time to write a snail mail letter and copy your Congressman.
If you are really motivated, call the SEC and find out who the assistant is who handles questions on PDT. Maybe you can actually talk to the guy or have an email conversation with him or her to find out if they are aware of the problem and what the chances are of loosening up the rules. It will be a lot easier to talk to a low level guy who will probably be more on top of the topic.
Good luck. Don't give up, just redirect your energy.
FAQ:
1. What for is the PDT rule ?
A: The PDT rule is by no means to protect investors. As NASD claims, it is a measure to protect brokers. But the restrictions does not even work properly to protect brokers. Because it only applies to small trades. In fact, the untold main purpose of PDT rule is to take away flexibility from small investors so that special interest groups can rip off their main victims more effectively.
1. What for is the PDT rule ?
A: The PDT rule is by no means to protect investors. As NASD claims, it is a measure to protect brokers. But the restrictions does not even work properly to protect brokers. Because it only applies to small trades. In fact, the untold main purpose of PDT rule is to take away flexibility from small investors so that special interest groups can rip off their main victims more effectively.
I believe the main purpose is to consolidate wealth among an ever shrinking minority privileged class.
Welcome to the age of Fascist Futuristic Feudalism.
Welcome to the age of Fascist Futuristic Feudalism.
FAQ:
3. Why is the PDT rule against free and equal market?
Some investors, therefore, are not able to enter and exit positions whenever he or she feel necessary to do so. On the other hands, some others are not restricted by the rules in the same market.
3. Why is the PDT rule against free and equal market?
Some investors, therefore, are not able to enter and exit positions whenever he or she feel necessary to do so. On the other hands, some others are not restricted by the rules in the same market.
Quote from qdz:
FAQ:
2. What for is the PDT rule ?
A: The PDT rule is by no means to protect investors. As NASD claims, it is a measure to protect brokers. But the restrictions does not even work properly to protect brokers. Because it only applies to small trades. In fact, the untold main purpose of PDT rule is to take away flexibility from small investors so that special interest groups can rip off their main victims more effectively.
FAQ:
4 Why shouldn't the PDT rule apply to stock options?
The PDT rule claims itself to protect brokers from excessive use of margin. However, stock options are not marginable. Also, options have sensitive time and volatility value associated with it. The PDT rules damage stock options as financial instruments.
4 Why shouldn't the PDT rule apply to stock options?
The PDT rule claims itself to protect brokers from excessive use of margin. However, stock options are not marginable. Also, options have sensitive time and volatility value associated with it. The PDT rules damage stock options as financial instruments.
Quote from qdz:
FAQ:
3. Why is the PDT rule against free and equal market?
Some investors, therefore, are not able to enter and exit positions whenever he or she feel necessary to do so. On the other hands, some others are not restricted by the rules in the same market.