Amen! I will be happy if SEC doesn't succeed in implementing this yet another idiotic idea (after Pattern Daytrader crap).
The links to the SEC on page one of this thread posted by Ron In a Sauna, worked effectively to get some responses. The regional SEC offices have all acknowledged receipt of my emails opposing the proposed rules. Hoping others here will email the SEC also. Thanks Ron, for the post.
I too have no problem with the 25k PDT rule....it's how you put the rule in that bothered me....for years anyone could trade with less then 25k, then all of the sudden you have a trader who has 10 years experience being forced to change because he decided to pull money out and buy a home in 2001...there should have been a grandfather clause or a certification of trading hat would allow the individual to attest to his experience and net worth in lieu of the 25k....I do have to wonder though: why did they wait until the market was in shambles before putting in the rule? kind of defeats the purpose but on the other hand, how many people probably saved $$ by not being able to trade the last year and a half?
OK, the link in the first post of this topic wants me to become a 'subscriber'... even though it says 'free trial' it still wants my credit card. Anyone have a link to this article (or a similar one) that doesn't entail going through a bunch of claptrap to get to it? Thanks!