PDT killing you? why not futures?
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If not futures, then join a professional firm. How has the obviousness of this alternative escaped you?
If you join one of the 100% payout firms, you'll be asked (most likely) to put up at least $10k or so - well under the $30k (to stay above 25) for retail - and then trade your heart out. These firms will take anyone (with the cash; you'd have to be the absolute biggest drip in the world to be rejected.
If you can't manage to come up with something at least approaching $10k, I honestly have to say you just haven't tried hard enough.
If you join one of the 100% payout firms, you'll be asked (most likely) to put up at least $10k or so - well under the $30k (to stay above 25) for retail - and then trade your heart out. These firms will take anyone (with the cash; you'd have to be the absolute biggest drip in the world to be rejected.
If you can't manage to come up with something at least approaching $10k, I honestly have to say you just haven't tried hard enough.
What does it have to do with the communists???
Secondly, there ARE numerous instances when the people have to be protected from themselves or from their desires.
About 90% of drivers think they drive better than average. If everyone was allowed to drive at the speeds at which he/she thought they were capable of driving adequately, you don't have to be a rocket scientist to predict the outcome.
Alas (or luckily), we have speed limits. <b>They suck.</b> For some, the rules suck and we know they COULD have been safe deciding on their own how fast to drive. For most though, it's best to not let them do it. As you see, there ARE benefits to imposing regulations administratively.
Whether you agree or not, as I said before in a different thread, I think there are a lot more people didn't lose what they would have lost had it not been for the rule than there are those that didn't make as much as they could have. Thirdly, those who feel that they indeed have the skills to make money should be able to come up with more funds and if they don't, then what's the point?
the PDT rules we're 'whining' about were only recently adopted to options and that's why the recent 'whine'. The stock PDT rules were adopted over a year ago and so that's not the current issue (for you anti-whiner whiners).
Futures leverage/margin scares the crap out of me. With options, I can suffer a bit if my trade goes against me for a w\few moments without worrying about the tight stops I'd have to use with futures. Since I also have a 'real job' I can step away from the computer, and if I return to see that I've made the wrong move, I just bail out with no adverse margin/leverage issues. Besides, it's my money to throw away, burn or lose in the great casino called the market.
If they implement a rule based on margin on a derivative that is entirely a cash based instrument, what are they gonna implement next??
Futures leverage/margin scares the crap out of me. With options, I can suffer a bit if my trade goes against me for a w\few moments without worrying about the tight stops I'd have to use with futures. Since I also have a 'real job' I can step away from the computer, and if I return to see that I've made the wrong move, I just bail out with no adverse margin/leverage issues. Besides, it's my money to throw away, burn or lose in the great casino called the market.
If they implement a rule based on margin on a derivative that is entirely a cash based instrument, what are they gonna implement next??
LMAO!!
vladiator, i think they should raise the PDT requirement to a cool half million don't you? or maybe even ONE million? Let's protect as many as we can, right? If people become better traders at 25K, imagine how much better the trader at one million.
Perhaps they should ban trading all together, it's all a ruse anyway because EMT. Right?
There will still be someone (probably several) who will manage to directly/indirectly lose all of their life savings in the "Worst Stock Market" ever. They will make their way to some TV show and then to a politician explaining how the rules should not have allowed this to happen. Ah, a new political football to play with.
Next a few hearings, a couple of horror stories, a dying senior citizen with tears speaking of now not having enough money for prescription drugs and rent at the same time. Then the political solution appears:
"ALL WE NEED ARE NEW LAWS THAT WILL . . . . then add in the WE CARE TAX package proposed by senator so-n-so and endorsed by a "Blue Ribbon" independent financial review group, where people who are in the top, say 2%, tax bracket help to take care of all our vulnerable seniors . . . the wealthy MUST be made to pay their proportionate share based on our political/moral determination of whether or not they can afford it, and WE know THEY can. How dare the rich enjoy the fruits when so many can be helped. And with our political pressures and efforts, they WILL be made to pay their fair share." Sounds like a bunch of statements for the '04 campaign trail. Wonder who'll make them?
Next a few hearings, a couple of horror stories, a dying senior citizen with tears speaking of now not having enough money for prescription drugs and rent at the same time. Then the political solution appears:
"ALL WE NEED ARE NEW LAWS THAT WILL . . . . then add in the WE CARE TAX package proposed by senator so-n-so and endorsed by a "Blue Ribbon" independent financial review group, where people who are in the top, say 2%, tax bracket help to take care of all our vulnerable seniors . . . the wealthy MUST be made to pay their proportionate share based on our political/moral determination of whether or not they can afford it, and WE know THEY can. How dare the rich enjoy the fruits when so many can be helped. And with our political pressures and efforts, they WILL be made to pay their fair share." Sounds like a bunch of statements for the '04 campaign trail. Wonder who'll make them?
Yeah on www.thepit.com
But, from my research on their MM system, it is very difficult to be an "off-floor" MM. Meaning, the Pit sets the rules in its favor, and makes its own markets.