pattern day trader - the ARROGANCE rule

sorry, i saw in the snapshot IB changed the last price for CSIQ to 18.00 so it's $780.

 

yes, you're right

but the point is that i'm not a day trader!! but if there's volatility, 3 day trades in 5 days may happen to every swing trader

 

The PDT rule is such a crock of shit. Thankfully in Canada we dont have to worry about that BS.

You could try getting a Canadian adress and amybe set up with a Canadian broker. Ive heard of some doing things like this but im not sure how dificult it is to pull off.

As far as I know only Interative Brokers enforces the PDT rule in Canada.

 

its a great rule. hold overnight so the futures drip like a ton of bricks and wake up broke. the government really looking out for us! its nonsense.

 

the rule only applies to margin accounts. You can daytrade using a cash account with settled funds (options settle the next morning). That's what I do.

 

I hope you guys are aware that there are prop firms where you can put down $5k, not have a series 7, and legally get significant leverage and have no PDT rule.

 

i didn't think about that... interesting.

 

i personally don't know what a prop firm is, and what a series 7 is...

can you give an example?

 

i sent a complaint against the SEC to the SEC...


if you want to

https://tts.sec.gov/acts-ics/do/complaint

 

i didn't know that. i'm going to email a couple of canadian brokers about it...

thanks