Regarding the new NASD rule, well at least IB finally posted some information about the new rule, although it is still unclear. I started day trading back in May and like many others in this extremely tough market, i have paid my tuition and taken my losses, yet I am getting better. Unfortunately i do not have the 25k minimum to meet the new requirements and see no way around the new rule. This rule is absolutely ludicrous. What are they thinking? You have 25k you get 4 times margin! and you can trade and short. You have say 20k and you get 1x buying power and cannot short, and cannot have any margin at all. Unbelievable. So what do I have to do, go back to being an "investor" and lose more money, oh, but I get margin then, that's nuts. I day trade, in fact I almost dont need margin, but I need to short, and that will no longer be possible. Now, i can't day trade anymore and do covered calls or even have some swing trades and day trade at the same time. Since I trade intraday, i have cash at the end of every day, completely in control of my money, yet no margin, but i have been crushed before on margin holding positions overnight. The bottom line is I will not be able to continue to trade, i'm out of business, I see no way around this. A lot of traders are going to feel the sting of this new rule and there are many out there who don't even know about it.