PDT rules have destroyed me.
- Thread starter qdz
- Start date
You're correct. No new posits; you can always close out an existing one.
"Then I suppose that we have a "right" to point out how stupid it was to get involved in a game without knowing the rules. Not to mention how childish the continued whining is over your own stupidity and ignorance."
Tampa, I laugh at how concerned you are over my issues. Its cute, you going out of your way to make sure others are as informed as you. I guess. Not sure really what the hell ou try to accomplish by posting harsh remarks. I had a feeling you were the one to attack my post with childish rhetoric, just from reading your past posts on this topic. Typical Hawk. Guess you've got nothing better to do.
Why are you so concerned with my concerns? Why must you attack my opionions on this matter? Lets just all be quiet now, and not voice our unappreciation (an understatement!) of this rule, because if we do, then Tampa will make sure to quash it?
Hey tampa, are you SEC? Heehee.
In reference to my knowledge - yes, I did not know this rule. I was so concerned with the trading element, and all of the other aspects of RM, that I failed to realize the impact of this. But I also could not imagine a rule coming into force as extreme as this one. Once I learned all the elements of it, I just traded as if it wasn't there. Screw that. So thanks for pointing that out - it was stupid not to know this rule.
But to comment that "Not to mention how childish the continued whining is over your own stupidity and ignorance." Hey, its not my stupidity. Its the SEC, for creating the rule. I would be posting here with different experience, but still complaining about the rule. Hey, Tampa, Have a good day.
Tampa, I laugh at how concerned you are over my issues. Its cute, you going out of your way to make sure others are as informed as you. I guess. Not sure really what the hell ou try to accomplish by posting harsh remarks. I had a feeling you were the one to attack my post with childish rhetoric, just from reading your past posts on this topic. Typical Hawk. Guess you've got nothing better to do.
Why are you so concerned with my concerns? Why must you attack my opionions on this matter? Lets just all be quiet now, and not voice our unappreciation (an understatement!) of this rule, because if we do, then Tampa will make sure to quash it?
Hey tampa, are you SEC? Heehee.
In reference to my knowledge - yes, I did not know this rule. I was so concerned with the trading element, and all of the other aspects of RM, that I failed to realize the impact of this. But I also could not imagine a rule coming into force as extreme as this one. Once I learned all the elements of it, I just traded as if it wasn't there. Screw that. So thanks for pointing that out - it was stupid not to know this rule.
But to comment that "Not to mention how childish the continued whining is over your own stupidity and ignorance." Hey, its not my stupidity. Its the SEC, for creating the rule. I would be posting here with different experience, but still complaining about the rule. Hey, Tampa, Have a good day.
First let me say that I am not an âinsiderâ, nor do I have any insider information, so what I am about to say is speculation.
But did you ever notice how hard it is to day trade with limited funding? Did you ever notice how often the little guys wash out? Did you ever notice how it is more often then not the little guy who cries about conspiracies, or evil Market Makers and Specialists out to personally get him?
The bitching, the moaning, the sad stories, and the horror stories emanating from the âsmall fishâ side of the pond are bad for business. Better to just shut him out then let him screw up a good thing.
Itâs just a guess, but Iâd bet money on it.
You are bad for business, and thatâs why they wonât let you play, and why it ainât about to change. Theyâre being polite when saying itâs for your own good.
But did you ever notice how hard it is to day trade with limited funding? Did you ever notice how often the little guys wash out? Did you ever notice how it is more often then not the little guy who cries about conspiracies, or evil Market Makers and Specialists out to personally get him?
The bitching, the moaning, the sad stories, and the horror stories emanating from the âsmall fishâ side of the pond are bad for business. Better to just shut him out then let him screw up a good thing.
Itâs just a guess, but Iâd bet money on it.
You are bad for business, and thatâs why they wonât let you play, and why it ainât about to change. Theyâre being polite when saying itâs for your own good.
The sharks are going to continue to redefine which fish are "small". Then the rules will affect those with "only" $100,000. Then we will hear a lot more whining and complaining.
As to who is "stupid" for not knowing the rules: the rules were suddenly, and without any notice at all, applied to options a mere 5 weeks ago. Qdz is complaining about this. He was not stupid for not knowing the rules. They changed without notice.
As they will continue to change: they will raise the threshold from $25,000; they will apply these restrictions to futures.
Yeah, you can close positions, and just be unable to open new ones for a week. If you closed your positions, and found you were unable to open any new ones for a week, while you watched the market moving, you too would state "I'm totally pissed off".
As to who is "stupid" for not knowing the rules: the rules were suddenly, and without any notice at all, applied to options a mere 5 weeks ago. Qdz is complaining about this. He was not stupid for not knowing the rules. They changed without notice.
As they will continue to change: they will raise the threshold from $25,000; they will apply these restrictions to futures.
Yeah, you can close positions, and just be unable to open new ones for a week. If you closed your positions, and found you were unable to open any new ones for a week, while you watched the market moving, you too would state "I'm totally pissed off".
Encourage what - futility? Living in a dream world?
You wanted an answer, so I gave you the most likely one. Hearing day after day how the "little guy" gets creamed in day trading is bad for business. Better for the business to shut him out. You have been shut out, and it's not going to change.
If you don't want to deal with the truth there is nothing I can do to help.
I'm through with the topic. My best advice to you is to do the same.