It against the free market,it against the freedom of people using their own money to buy and sell.We love freedom in America,so we don't love that rule. The FINRA thinks small traders are protected with that rule. FINRA just thinks small traders are all stupid,as stupid as that they can't stop DT by Themselves when they lose money in DT.If the FINRA really want to protect people,they first need to set up a rule named pattern day GAMBLER in LAS VEGAS,GAMBLER with less than $25k can only bet 3 times in 5 business days,or they will be frozen for 90 days. What a joke!
I "qualified" (if that's the word) <i>by mistake</i> in one of my point-click accounts, because of buy/sell errors where I intended to scale into a position but accidentally exited instead. It was academic because of the account size, but still...
It's to keep you degen gamblers from blowing out and suing your broker for allowing you to churn yourself to death. The futures regulators assume you understand the risks so they don't have such restrictions. Trade futures until you can trade comfortably >$25k.
hurricane, are you a big trader. what is small by your definition. how much approximately do you trade daily...and how much approx you make in year trading ?
Learn futures trading. If you want to get in this for real, jump in and do some self learning. Once you do it, you will see it's very easy to understand. Futures leverage is way beyond 100:1. So much for that 4:1 stock leverage ..........
suspension for 90 days like it's a criminal offense. man do these regulators think americans are kids? do you think americans are 'stupid' In canadian stock market there is no pattern day trader restrictions. I think americans are the only ones with patter day restrictions because the US exchange rules is controlled or by old boys broker/dealer network. why not in futures or forex no pattern day rule? hogwash because for stocks, you retail traders are competing with professional propreitory and market makers in daytrading. market makers have large fix cost and pay professional fees. that is why they want $25,000 cash deposit into your broker/dealer. and when you deposit the $25,000, the broker/dealer uses your money to trade their own account at 10:1 leverage. you fools actually believe it's to prevent average joe trader from blowing his account from inexperience. all broker/dealers have prop trading desk who's main job is to be on the other side of the traders trade. HFT fronting. the niavity and stupidity..nobody has gon broke underestimateing the intelligene of the masses.