the PDT rule needs to go
- Thread starter Gordon Gekko
- Start date
John Q Public
Guest
Quote from qdz:
This is a free country. That's the reason I like it. I respect your opinions about whether PDT margin rules is unconstitutional or not. But I don't agree with you. And I am going to continue this campaign until the wrong rules are fixed.
Thank you.
The great unwashed empty pocked capitalists are grateful, I am sure.
If any of you spent the same amount of time studying for the Series 7 as you have ranting and reading these threads, you could be well on your way to not worrying about any of this.
Some estimates say that there are 5000 day traders out there. Let's just assume that that is wrong by 400%, that means that you have 20000 day traders. Lets just say that half are professionals. So according to this rationale there are 10,000 of you out there who care about this. Now lets compare that to another incredibly conservative estimate that 30% of the population of the US invests (we know its more than double that). Thats about 90 million investors.
The NYSE, NASD, SEC and Federal Reserve are going to change the rules in favor of .01% of the affected group????
Doubt it.
Of all the assumptions in this post I think the most aggressive is that 10K individuals care about the PDT rule. But lets just say that instead of an aggressive estimate it is conservative by a factor of 10. That ups your voice to .1%.
Trade prop. And moderator, please put this thread out of its misery like the last one.
Some estimates say that there are 5000 day traders out there. Let's just assume that that is wrong by 400%, that means that you have 20000 day traders. Lets just say that half are professionals. So according to this rationale there are 10,000 of you out there who care about this. Now lets compare that to another incredibly conservative estimate that 30% of the population of the US invests (we know its more than double that). Thats about 90 million investors.
The NYSE, NASD, SEC and Federal Reserve are going to change the rules in favor of .01% of the affected group????
Doubt it.
Of all the assumptions in this post I think the most aggressive is that 10K individuals care about the PDT rule. But lets just say that instead of an aggressive estimate it is conservative by a factor of 10. That ups your voice to .1%.
Trade prop. And moderator, please put this thread out of its misery like the last one.
FUCK killing this thread. it still isn't right. you did make a great post, however.
p.s. what's hard about not reading this thread if you don't like it?
p.s. what's hard about not reading this thread if you don't like it?
i actually agree with what you said 100%. your argument makes complete sense to me. but it still pisses me off that i have to suffer because of the idiocy of the majority. IT ISN'T RIGHT, and that's what we're complaining about. if people are going to play in the stock market, they should understand that they can lose everything. get rid of all these protective pussy rules.
and before someone says that i should stop complaining and move on, I AM MOVING ON. i will trade even with these fucking rules...but i can also complain at the same time.