I HATE THE SEC....let's get that out of the way. as some of you know, the PDT rule does not apply to the emini futures. can the sec ever change that? if the sec can't change the rule for futures, why can they change the rules for stocks? and if the sec is going to make these bad rules, why doesn't someone start a new type of market that bypasses the sec rules? if the futures can do it, why couldn't stocks? i know these are newbie type questions.... p.s. take a look at this: "Before trading can begin, however, the Securities and Exchange Commission (SEC) must approve OneChicagoâs customer margin rules. The SEC and the Commodity Futures Trading Commission must also approve the language of the risk disclosure statement that all firms will be required to send to their customers to permit trading in security futures." in this case, the sec does influence the rules of the futures. so why doesn't the sec pdt rule apply to the emini futures? i don't get it.
The CFTC is the regulatory body that controls all futures trading. The SEC can not do anything to f**k up trading the futures for the little guy like they do in stocks. Futures are a very short term (ie traders) market with the average contract only being held a short time (measured in days). Brandon
Right, plus, no wimp bureaucrat will ever mess with the deep pockets of Paul Tudor Jones, Bruce Kovner, and the like. These guys are much better than the crooks who own Harvey "fat bastard" Pitt. When the futures guys take your money they do it fair and square and always give you a rematch, on the other hand the specialists and market makers blatantly pick your pockets with help of the %&%# SEC. Like everybody else here, I want to shove one of those big smokey scud missiles up Saddam's a$# but I also want to see Pitt out of the SEC and all those sob CEO's in Rikers Island playing "who wants to be my bitch" with big ugly hairy serial killers.
They don't write back. I send them e mails complaining about: options market makers NYSE specialists themselves and the fact that they're sellouts And I never hear back. Apparently (gasp) they're not out there to protect or help me. And I am forced to pay their $@#$&* fees every time I trade. Joy.