PDT Rule & Prop Firms

kinggyppo

Its funny because I know that lack of margin has kept me out of some really bad trades. No one likes to think that margin are to keep you from blowing out, although many good traders have blown out.
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This is WHY there try's to be a distinction between a PROFESSIONAL TRADER and a RETAIL TRADER. The PRO guys understand leverage, can mange it and if they lose can accept that fact.

With that said, do pros blow up yes (BSC), hedge funds yes long list no doubt.

The beauty of the $5,000 down PROP MODEL is that anyone who has a desire to trade can at least participate in the American dream without meeting certain SEC rules. Who knows which of these guys will become the next Carl Icahn or blow out their account.

SEC needs to either shutdown low-deposit PROPs or allow NEW RULES so small time traders can also partake in the American dream and not have the current RULES (PDT, REG-T, etc.) so impossible for the poorer guys to overcome.
 
i have been on this thread for a week and nothing has changed-lol all i know is that maverick has the patience of a saint and ratboy is a stupid f#@k
 
MAV. well i appreciate your response with a name , which is a good start. you see the site is a maze to find info, but calling them is a good idea which hopefully they can provide the info needed to anyone that asks for it..
 
im not sure if im gonna go st. retail or get the 7(expired on me years ago) in the mean time im studying for it and am getting a big kick out of studying CMO's and most debt securities....boy o boy is this country in trouble
 
Quote from Steelhead:

im not sure if im gonna go st. retail or get the 7(expired on me years ago) in the mean time im studying for it and am getting a big kick out of studying CMO's and most debt securities....boy o boy is this country in trouble
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the philly used to grandfather the 7. if you sign up with a member firm your 7 is re-activated. i don't think this has changed. i think echo may be philly... maybe someone else can shed some light. Don?

Steel ask Don Bright which Xchanges grandfather the 7.
 
i think rat boys right. a few years ago my friend was going to sign up with echo but had let his series 7 go year ago but i think they said he could still join the philly exchange if he's ever had a series 7. it might just be echo that does it
 
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