First before 2002, traders didn't need $25,000 to daytrade US stocks and all the prop shops closed. due to regulatory crackdown. plus less young people under 30 to daytrade. as for options and futures, most lose money FAST and blow up their accounts and have no advantage. they whipped by tghe market makers in ES futures or even NQ and prop firms never touch futures for that reason. the potential lost is too much in futures. not worth the risk for prop firms,,
hardly the regulation is still negligible and in no other activity can somebody enter it without any permissions or qualification. there is a qualification necessary in the States if you want to advise but there is no restrictions on anyone trading
$25k led to a decline in noob traders perhaps. Someone making genuine money does not have trouble coming up with $25k.
I was making good money from a 6k account, 3k per month (25% with margin ) mainly on girl next door, fit as, had 2 weeks notice on PDT no chance i could raise the cash ever, went Options did okay 3months, blew up then Forex.
it was because daytraders were making too much money off the market makers. that is why the $25,000 min.. they know most people don't have $25,000 daytraders were competition. so the SEC works for the market makers who were complaining. you were competing with them. the rule change was for their benefit. and they still have that rule PDT for 18 years.
No it was to protect us LOL Part of a Yahoo Group which there was 1000nds and we all worked together, found good stocks that where hot and pretty much all of us was making damn good $$$'s and pretty much all of us stopped as we didn't have 25K+ floating around. The few that did, using 4:1 margin and soon dropped below 25K+ a few times until unable to fund and they couldn't trade much either, as 4:1 margin with Stocks intraday is a killer.
Assuming that's true (I have my doubts), you just made the worst financial decision of your life not compounding that for a year for a sweet 130 times as much money/income. [Disregarding potential concerns about microcap liquidity/non-scaling.]