some SEC people should go to jail for PDT (i'm only half joking)

Tell you what to do:

go to
www.nasdr.com

click on 'preform an online search"

then put in the names of ALLTECH, HOLD, SUMMIT, MOMMENTUM ect....and have the info delivered....


http://www.stockbroker-fraud.com/daytrading.htm

or just look up any security attorney's web site...truthfully, the guy who has lss then 25k has a better chance at winning a suit because it was 'all the money in the world " where as the guy who is liquid for 50k can afford to take more of a loss.
 
Quote from TM_Direct:

I don't think its any more messed up then the thousands of investors who jumped into the market and daytrading in the 90's under their own free will....but then sued the crap out of all the firms because they lost their money....Blame the lawyers not the SEC..
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Amen.
 
Quote from TM_Direct:




I don't think its any more messed up then the thousands of investors who jumped into the market and daytrading in the 90's under their own free will....but then sued the crap out of all the firms because they lost their money....Blame the lawyers not the SEC..
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IF that's truly why PDT came about, then blame:

1) individual investors/traders not taking responsibility for their own actions.

2) lawyers representing and fighting for irresponsible people (irresponsibility should not be rewarded).

3) SEC for caving into the pressure, knowing their decision harms RESPONSIBLE traders/investors.

4) not enough complaining about PDT before it was enacted.
 
Quote from Gordon Gekko:


IF that's truly why PDT came about, then blame:

1) individual investors/traders not taking responsibility for their own actions.

2) lawyers representing and fighting for irresponsible people.

3) SEC for caving into the pressure, even though their decision harms RESPONSIBLE traders/investors.

4) not enough complaining about the PDT before it was enacted.
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ok...i blame them all....

btw: the reason the sec get's involved is that they , along wiht the NASD and the states, get tons of complaint letters and arbitration requests that have to be processed and investigated, thus making it more costly to run the agencies as well.....it's a bad combination all around...but don't worry....futures will be next
 
Quote from TM_Direct:




ok...i blame them all....

btw: the reason the sec get's involved is that they , along wiht the NASD and the states, get tons of complaint letters and arbitration requests that have to be processed and investigated, thus making it more costly to run the agencies as well.....it's a bad combination all around...but don't worry....futures will be next
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decisions should not be based solely on volume of complaints. in a republic, minority rights are supposed to be protected. a responsible trader with less than $25k should not be punished because of morons that make up the majority. as it is now, the minority's rights are getting TRAMPLED ON.

government/laws/rules are NOT always right.
 
Quote from icarus618:

Maybe you should give up trading and go to law school. You seem to like arguing more than trading. Just an idea.
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give up trading? not happening. i am on the verge of becoming a great trader.

btw, i considered becoming a lawyer when i was in high school.
 
anyone interested in becoming a good human being, should read axeman's posts. i can not praise axeman enough. his chit chat posts are great.
Quote from axeman:

This gets complicated real quick....but here are
some interesting thoughts and snippets from a couple
of websites concerning republics and democracies(majority rules)...

In a REPUBLIC.....Minority individual rights are the priority. The people have natural rights instead of civil rights. The people are protected by the Bill of Rights from the majority. One vote in a jury can stop all of the majority from depriving any one of the people of his rights; this would not be so if the United States were a democracy.

In a pure democracy 51 beats 49%. In a democracy there is no such thing as a significant minority: there are no minority rights except civil rights (privileges) granted by a condescending majority.

Simply stated, a democracy is a dictatorship of the majority.

Socrates was executed by a democracy: though he harmed no one, the majority found him intolerable.


If you truly believe in "majority rules", then go live
in a democracy. But you had BETTER make sure
that you hold exactly the majority opinion in that society
or you will be fu**ed :D


If majority ruled in this country, I would be hanged
as a heretic. History doesn't lie. Majority rule does
not work.



peace

axeman
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Quote from axeman:

No they don't.
Not in a constitutional republic. Thats exactly the point.
Minority rights are protected.

If majority ruled, we would still have slaves and women
would not be able to vote.

peace

axeman
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There is a very good reason for the pdt rule and it doesn't have anything to do with protecting anybody but the good ole market makers. This experience actually happened to me and I think that it might have been a good part of the problem that they wanted to eliminate.

When I first started daytrading I found a system that actually averaged 5 points a day. The problem with the system was that I could make free trades, only if I utilized market orders and that was a big disadvantage.

I was trading the qqq's and I soon found out that the system worked great if I only traded below 50 shares. I tried to trade 100 to 200 shares but my orders were generally screwed up, split, or not filled for a long period of time, resulting in large losses relative to the order size. So I stayed under the "radar" screen" with 40 shares. I sort of convinced myself that there was some rule where they couldn't mess with me if I traded under this number. I still don't know for sure.

I had a very high success rate with my system and I was trying to figure out how to trade larger orders when they barred me from trading the security.

In my opinion that is kind of what the pdt rule is all about. The rest is just smoke and mirrors.

regards
 
Quote from Gordon Gekko:

anyone interested in becoming a good human being, should read axeman's posts. i can not praise axeman enough. his chit chat posts are great.
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I like and respect the AXE! He is one very kewl dude :cool:
 
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