pattern daytrade rule discrimination ???

Discussion in 'Trading' started by razor99, Mar 18, 2007.

  1. what a stupid and patronizing statement....i never heard of any casino stopping u from gambling if u dont have enough money to blow, infact they even lend u a line of credit, and it's not just a multimillionaires privilege; so much for the state being concerned about your welfare.

    it is about rights and freedom, i hate when the govt imposes restrictions of any kind to anyone and i hate even more when an apologist makes excuses for discrimination and the shredding of the constitution, no matter if the rule affect yourself or not, i dont feel superior because i can afford to go past the pdt and nobody should either....u do though and that's why u are so pathetic. now go back in cue and wait your turn to get chipped....u are not a criminal so u got nothing to lose.
     
    #51     Mar 19, 2007
  2. I'm not a good trader and I don't have 25k. I've dropped 4kish a couple times trading futures, because the minimum tick size is pretty high for a NEWB. I would love to be able to learn to trade stocks trading just a few shares at a time, but unfortunately can't do that. So my plan now is to save up about 30k, and then open a stock trading account and trade a few shares at a time. Who knows how long that will take lol.
     
    #52     Mar 19, 2007
  3. ddunbar

    ddunbar Guest



    You obviously only played the slots. Yet I wonder if you ever even patroned a casino given your above distortion of the facts.


    LOL, oh come on Bit. You live in a socialist country yet you're on about unfettered freedom. LOL. Cut it out.

    It's an established fact that the dumb money, a euphemism for the general public, needs protection from themselves when it comes to finance.

    And there's nothing in the constitution that provides for unfettered access to financial markets. Nothing. So your "shredding of the constitution" argument is M.O.O.T.

    As far as feeling superior... I need to clue you in. I started out trading options 15 years ago because I didn't have enough money to trade stocks reasonably and responsibly. I started out with $5000 back then. Point is, I entered the markets at a TIER I could afford. And I designed my trading system back then specifcally for option trading... as that was what I could afford to do.

    Now I trade futures. Have been doing so for a decade.

    So it's not feeling superior. It's me being rational and taking responsibilty for my trading. Something I haven't seen much in this thread.

    Good traders adapt to change or they die. Losers whine and fail to take responsibility for themselves and their trading. They blame regulations, brokers, advisors, TV shows, etc. etc.

    Discrimination. LOL. Please. As if there's no alternatives.

    Have a nice one. And happy trading ahead.
     
    #53     Mar 19, 2007
  4. ddunbar

    ddunbar Guest

    Oh yeah, and pikers can't trade certain tiers of Forex.

    Sniffle Sniffle.

    Because a prime broker wouldn't waste their time with them.

    Sniffle Sniffle.

    And there was a time before Emini ES existed and only S&P bigs existed and you had to ante up >$16k a piece.

    Sniffle Sniffle.

    Whatdayagunnado?

    I know. I know. I'm being mean. But whining needs to be put in perspective. No one is entitled to play the markets at whatever level they choose. You choose the level and instrument you can afford.
     
    #54     Mar 19, 2007

  5. established fact??? lol. how on earth do u establish who's the dumb money and who's not. is that because the sec has said that small acct holders are incapable of any thinking? this is even more ridiculous and total nonsense if u think that pdt dont apply to futs. the most unforgiving mkt of them all for noobs.

    i am referring to most people here that dont give a whoop about govt intrusion into their lives and decisions, maybe until it's too late to dissent and a fema camp will be the punishment for civil disobedience. america is slowly sliding into a police state: habeas corpus and posse comitatus act are void in case u missed it... gone. i see u dont keep up with news..of course it's not your fault if faux news has brainwashed u to the point of non-return.

    well, u see that's u...not everyone can make money off a 5k acct trading bloody futures or options... i couldn't for once. of course that may be my fault since i am below average or average at best but isn't that patronizing? and good u bring up futures since the pdt doesn't affect this mkt. then how do u reconcile it? u cant, because it doesn't make any sense and your apologies aren't worth the piece of virtual paper they are written on.

    yeah good i dont need to reply to this since a poster before me explained to how good much of a choice he has to adapt and get around the pdt....if he waits for an eternity. lmao.


    bla bla bla, what has all this to do with an unfair law. it's like saying because u can get around the specialist thievery then it's a good reason to let him keep robbing. dont u see flaws in your thinking? ok, from tomorrow let's introduce new regulations abolishing traders from shorting stocks...hell u can still make money going long or buying puts...what's the problem..."as if there are no alternatives". rofl.

    bottom line nobody should give a fucking inch when rights are concerned, it only opens the door to more control and more regulation. fuck the nanny govt, i wouldn't let my mother tell me what to do, nevermind the govt.

    yeah u2.
     
    #55     Mar 19, 2007
  6. razor99

    razor99

    don't waste your breath.. i started the post because a few days ago another poster started a thread and nobody seemed to respond. just because i started a new post about the pattern daytrade rule being discriminitory,there have been a few jerk off's who insist i have no money and am whining...well,they are wrong and to me they are a bunch of punk wise ass's who shoot their mouths off on a message board.no balls. anyway,the governemnt is intrusive when it come's to this ridiculous rule and i believe that regardless of whether i have 10 million dollars or just 10 dollars.
     
    #56     Mar 19, 2007
  7. ddunbar

    ddunbar Guest

    Statistics. That's how.

    Anyway, care to cite the PDT rule for futures?



    Dramatist.

    So you shouldn't be required to have a licence to drive and impose an age limit at that then? Must have unfettered freedom ya know.

    You shouldn't be required to have insurance either I suppose. Must have unfettered freedom.

    You shouldn't be required to post a performance bond that's determined by an exchange. They should take anything you put up and accept your promise to not go into negative equity.

    Geez man, I could go on.


    I make no apologies. I have a policy of not coddling the stupid. I'm not saying you're stupid unless of course you insist that PDT is unconstitutional.

    Anyway, how do I reconcile it? Simple. The impediment for me to trade stocks was insufficient funds. What did I do? Well I was determined to get into this business of trading so I found an alternate way. Or I could have waited until I had enough loot to trade stocks.

    *shrug*

    Ya ain't got no points friend.



    Or, he could adpat his funding and trading style to something more suitable to his means.



    Unfair? How so? Define it, make a case, and bring it before the SEC and NASD.

    Flaw in your thinking is equating Specialist quasi unethical tactics to a monetary threshold for a style of trading.

    Anarchist? If not, where exactly do you draw the line on rules and laws? Oh I see, only when they directly affect you. But isn't that what you accused me of? Except in the inverse.

    Cry me.. no wait, cry the SEC and NASD a river.
     
    #57     Mar 19, 2007
  8. ddunbar

    ddunbar Guest

    There were others who chimed in and whined. And there is the general spirit of whining concerning this issue.

    Narcissist.

    Yet, this same crowd doesn''t seem to have a problem with Reg T margin rules of 50%. Hmmm.... Is 4:1 acceptable to them? Why not 10:1? Or 100:1 like in Forex but for stocks.
     
    #58     Mar 19, 2007
  9. are u insane??? there aint not pattern day trader regulations for futures. that's why i rightly say it doesn't make sense to introduce a law that forbids access to the more forgiving mkts and at the same time encourages/forces to overleverage in a the dangerous environment that is futures. just this issue is enough to make the pdt rule obsolete and indefensible. u have no case, u have no case whatsoever: a noob can go bust in a couple of days trading minimum size in futs while he can survive months trading stocks and possibly learn something and have a chance to make money. it's all about choice, u just dont get it do u.







    amazing...stunning, your comparisons hold no water and deserve no reply. not even justify the pdt as a performance bond since it has nothing to do with margins because exchanges do that already.




    "for me" LOL...your case does not reflect the myriad of personalities out there, people are not all the same and u are not the standard which everyone should measure himself against. u have been judgmental and arrogant, face it....u cant see the the difference between choice and finding alternatives due to restrictions...this is what it boils down to. amazing.








    again, nonsense, not all traders are the same and not everyone can turn 5k into 30k trading options. and even if that was the case it takes a looong time to achieve those returns if u are not a stellar trader; lost time equals lost opportunity... and not all traders are cut for swing trading, and neither cut to be cornered into forced decisions that may not suit their personality. the pdt is an annoyance and a huge impediment to anyone not well capitalized that wants to trade flexible instruments intraday and in some cases even overnite. period. u are narrow minded and selfcentered beyond belief.




    the pdt is unfair and based on preconceptions. the defensive posture of some members of this board in favor of the specialist is eerily similar to that of the pdt, that's what i am saying. it's all about ego and lack of tolerance. truly a sorry site.




    no freak, it is not when it affects me, i made it clear and i said it over and over that i hate stupid regulations designed to protect people from themselves i even made u a chilling example...it's about liberty and choice but it doesn't surprise me u just cant understand it.
     
    #59     Mar 19, 2007
  10. Look who's shooting his mouth off now! Did you make it past the 6th grade BTW?
     
    #60     Mar 19, 2007