I'm not a stock trader, but it just burns me up that the SEC has taken a stand on the "proper" trading strategy. I'm talking about day trading. What? Has the chairman read a book and figured out you make more money if you always hold at least three days? What about buy and hold? How much money have those investors lost in the last two years? Why doesn't he make an 18 month rule? They could pass a law which says, "Since so many unsuspecting investors get burned, they must close out all positions after 18 months."
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SEC Just Burns Me up
- Thread starter profitseer
- Start date
I'm over it. Just had to get it off my chest. I see now I should have posted under the 25k thread.
the SEC SUCKSSSSSSSSS!!!!!!!!!!
Anyone who wants to trade 1000 per day should be able to do it. SEC shouldn't be in the business of telling people how often to trade. Limiting daytrading margins? Yes, SEC has a right to do that but that could be done without imposing the 25K crap.
I was calculating my SEC fees and the number concerns me enough that I googled on it....
I found <a href="http://www.nvca.org/reducesec_fees.html">this</a>, for starters:
There is some law on this tax is <a href="http://www.sec.gov/rules/final/34-38073.txt">here</a>. <font size=1>Thanks to Josh @ ISLD for the link.</font>
Making the emini more compelling every day. In my dreams, it's just the specialist, the SEC, and the tax man, on an island somewhere...
I found <a href="http://www.nvca.org/reducesec_fees.html">this</a>, for starters:
The bill, the "Competitive Markets Supervision Act," would reduce SEC user fees, which currently generate <b>$2.3 billion for the agency. This figure is roughly six times the amount needed to run the SEC. Revenue in excess of the agencyâs budget becomes part of the Treasuryâs general revenue and is used to fund other federal programs.</b>
There is some law on this tax is <a href="http://www.sec.gov/rules/final/34-38073.txt">here</a>. <font size=1>Thanks to Josh @ ISLD for the link.</font>
Making the emini more compelling every day. In my dreams, it's just the specialist, the SEC, and the tax man, on an island somewhere...