Hit by IB (and SEC)

I was waiting for QDZ to weigh in on this, complete with inaccurate remarks.

 

I think he already did

 

Agree,

I have traded with many firms and we all know that certain things happen.

But some line should never be crossed.

 

So... is this real forum or what ?

 

I don't think we should be picking on IB. IB's SRO is the NYSe which has chosed to interpret the PDT a certain way probably more restrictive than other SRO's. Maybe other brokers which are not NYSe members would have different interp of the PDT law.

 

http://www.nasd.com/Investor/Trading/daytrading/day_trade_margin.asp

 

REPEAL THIS PDT CRAP NOW.

ROCK

 

I second the motion --- these laws lag so far behind the situation.

By the time the PDT crap came out they should have been legistlating the accounting bs that tore up the market a few weeks after...

 

But the rules are the rules, I can take.

But the way how they implemented them is absolutely not acceptable.

 

Just open lets say ten positions on the same day. Now close them all later on the same day....