Remind me why the PDT Rule exists.

[gaussian]

Why does the U.S. appear to regulate markets more than any other country (other than perhaps India) on the face of earth?

It couldn't be that the entire world is dependent on the stability of the dollar, and despite all the bitching and moaning about "independence" these other countries claim to have, if the US dollar crumbles the entire world does. Every country on the planet worth anything is tied to the US dollar in one way or another. It's stability equates to global stability. 2007-2009 succinctly demonstrate my point.

But don't let that stop you from your anti-American tirade. Please keep going.

 

[d08]

This is the first explanation I've read that makes some amount of sense to me. Why does the U.S. appear to regulate markets more than any other country (other than perhaps India) on the face of earth? Covering one's behind due to the fact the so many Americans just seem to be itching to sue someone at the drop of a hat, not to mention the prevailing victim mentality of today's spoiled Yanks who want to blame anyone and everyone but themselves for their personal situations, and I can see why the government finds it necessary to pass silly regulations to protect even sillier citizens from themselves.

It's about not wanting to deal with the problem. Politicians do it all the time -- "there, we did something, we matter", rarely are the effects measured long-term.
I'm not sure Americans regulate their markets more than others. Seems about the same as the rest. Many countries don't even allow foreign citizens to trade their markets, some require a local address etc. Not to mention transaction taxes and other nonsense.

 

[Evermore2017]

And so, to get back to the PDT Rule, you either quit with your $24,999 til you can restake $25k + blow-up, or you move to futures, and lose it with 100|1 leverage.

That's why PDT rule has not sense, must be apply it to all instruments or none.

 

[zdreg]

and prevent them from short selling. Those are the biggest reasons people lose their entire account and have to pay their broker. They are also the most prone to do risky things like bet double th

You offer no proof that short selling is the cause of losses. You are just parroting a general prejudice against short sellers, as somehow being Un American.

 

[tommcginnis]

It entirely depends on your personality. Sure, the ego starts showing more as you start to equate your importance with your performance. But for most, they understand that they are still nothing -- there are billionaires out there for whom your "miracle run" isn't even enough to pay for a vacation.

EGO?!?!? You are clueless. 180° off the mark. Did you actually read what I wrote? Any of it?

 

[Turveyd]

I've never lived in the US but $25k isn't some absurdly large amount of money anywhere unless you are really in the 3rd world.

Might not be for a Londoner in the UK but around where I live, it's a lot, everything is so damn expensive these days.

 

[Turveyd]

You were making 33% per month? Why spend any of it. If you kept it going you’d be able to pay off the national debt of the US and have some left over for a private island and airport. If your strategy was that good your country’s central bank would’ve loaned you billions.

This is what I came to this thread for. These hucksters. What a joke.

Because I was full time for about 1year and I had bills to pay, food to buy.

I doubled my account last month, still sadly no bank offering to buy me out for millions, it the real world, that doesn't happen.

 

[Turveyd]

Not at all. You need to have done some 'miracle runs' yourself -- you end up being NOT a nice person -- a bad Dad, poor-ass hygiene, you lose friends (through unfriendly and obnoxious and *thoroughly* self-absorbed behavior). Oh, and forget about your Sweetie. It is not fun. It is not recommended. And you WILL eventually blow up. But if it's Pay The Bills or not, you do what you need to do, for as long as you can. The best you can hope for is to learn learn learn. "Saving up?" No -- for some, *that* is a joke.

And so, to get back to the PDT Rule, you either quit with your $24,999 til you can restake $25k + blow-up, or you move to futures, and lose it with 100|1 leverage.

You've been there

No system, no magic, 18hour days, research, stock screening, charts charts charts, making notes to create a watch list of good stocks to daytrade.

I went pretty much full time, 1st May ish, going nuts but learning fast and wishing everyone would F off and leave me alone, so I can focus on the damn thing I have to sort out, phone off 9am to 9pm soon, only way NOT nice required to pay bills!!

 

[expiated]

It couldn't be that the entire world is dependent on the stability of the dollar, and despite all the bitching and moaning about "independence" these other countries claim to have, if the US dollar crumbles the entire world does. Every country on the planet worth anything is tied to the US dollar in one way or another. It's stability equates to global stability. 2007-2009 succinctly demonstrate my point.

But don't let that stop you from your anti-American tirade. Please keep going.

I agree with everything you wrote up to "...demonstrate my point," but I have no idea what that has to do with anything I said.

 

[expiated]

I'm not sure Americans regulate their markets more than others.

When I lived overseas I could trade just about anything I wanted with just about anyone I wanted. When I moved back to the USA my options became extremely limited (by comparison) and become increasingly limited with each passing year. (I mention India because my understanding is that their citizens cannot trade any currency pair that doesn't include the rupee.)