And when your account falls below $25,000 the PDT rule applies. They don't tell you that when you deposit the $25,000 to daytrade at retail accounts. Yes ,the rule is bullshit. Reason futures is zero sum game and forex is bucket shops and market makers make $100 everytime moron retail traders trade and participate in futures and forex. Market makers lose money being market makers in stocks or don't make enough money doing it. As for prop firms, daytraders have to take the bullsit series 7 AND pay profesional data fees like $200/month to have privillege of gambling and participating in this rigged market. I should get paid to participate and waste in this bullshit market. Who cares, daytrading sucks anyways. More money is made in swing trading. The market makers either want people to trade futures, forex and prop firms instead. This market isn't fair. if you don't like the rules than fuck daytrading. People don't have to trade or invest in this market. It's like old boys network trading club as for the exchanges. Minimum entrance fee is $25,000. Don't have the money then fuck off.
Regarding the rule, if you trade a basket of stocks but never the same stock in the same week twice, are you still deemed by the rules to be a PDT?
I'd make it so you have to prove your heritage by blood tests. Have been or are a member of a yachting and/or one of the top 5 golf clubs in the world. Finalize it with an accent test to determine your level of verbal Anglo-Saxonness.