the PDT rule needs to go

It may not be realistic to hope them to get rid of the PDT margin rules totally. But at least they should have responsibility to listen to the feedback and modify the rules, for the sake of whatever reasons such as tax dollars.

One big problem is that the way they identify pattern day trader is ridiculous for margin purposes. 4 day stock/stock-option trades in 5 days, then you are a day trader who has margin problem and put others(brokers) in risk?? Gimme a break. NASD/SEC, be more sophisticated, would you?

This arbitrary determination hurts everyone.
 
at least they should give some flexibly to brokers who have the resource to manage the risk based on other requirements. def from IB said that some huge firms are not able to do check margin risk intraday. So they support PDT margin rules.
 
It doesn't matter how small your trade is (or that it comes out of cash, with options purchases). If there's three trades, you're out of business for the next one to four days.

Total value of trades can be $30, and you can have $20,000 in your account. Doesn't matter, you made three daytrades! You naughty naughty boy!
 
Originally posted by Gordon Gekko

i feel like rioting..but i'd just get arrested.
More...

Strap yourself with explosives and carry a sign saying "get rid of the PDT rule!"

Make sure you are carrying a thermonuclear device that is triggered to detonate if you let go -- just in case a sniper tries to take you out.

You will be a martyr for all traders.

 
Attention unknown daytrader! We have you surrounded. Give yourself up!

"No! I'm going to buy an option, and then sell it TODAY. And you can't stop me!!!!!!!!!!!! If it's the last thing I do!"
 
Originally posted by aphexcoil


Strap yourself with explosives and carry a sign saying "get rid of the PDT rule!"

Make sure you are carrying a thermonuclear device that is triggered to detonate if you let go -- just in case a sniper tries to take you out.

You will be a martyr for all traders.
More...
i will call myself gordon muhammad

mask.gif
 
Originally posted by hii a_ooiioo_a
Attention unknown daytrader! We have you surrounded. Give yourself up!

"No! I'm going to buy an option, and then sell it TODAY.
More...
lol
 
Attention Gordon Muhammad! If you do not surrender immediately, we will force you to make all future trades on ARCA!
It's hopeless! Resistance is futile.
 
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