or deal with it until we can...that's all I really meant. I think that is what he is trying to do..... Michael B.
Maybe this changes between differant brokers then. Buy/Buy-Sell = 2 daytrades as far as Mytrack's concerned. Obviously screams 1 thing-Check with your own broker how they treat it.
Dealers say it is for the customer's protection and their own protection. I have no idea if it true or not. Large accounts and transactions impose far more larger risk to both the customers and the firms. But it is interesting these rules go after small accounts. As for SEC, they say they listen to dealers and don't care about the publics. Forget it. Be large and free. Get some money. Use credit cards, home load equities, or whatever. Be large, buy stocks, and forget about the rules. One day when you are rich enough, change whatever you want to change. You are welcome.
I cannot believe you would tell someone to borrow money to trade stocks, or anything for that matter. That is one of the forst rules of the do' and don'ts!! And I am not talking about Margin either. That's totally different. If you can't pay than you don't play!
playing the devil's advocate... ... why is it ok for other businesses to borrow capital, and have lines of credit that they employ within their business in order to grow it... but not in a trading business?. Frankly, if you view trading as one should... as a "business"... then raising capital via credit is one acceptable path. Like any use of credit it must be done with reasonably sound business judgment. To deny this is to operate from a negative mindset that trading is unlike any other business with respect to ease of failure, when in fact many many small businesses fail... and file for protection in court. And b.t.w if one hasn't noticed rates are at historic lows... so if ever there was a time to borrow for one's trading business... THIS IS IT! Now I would not say to do this and go to Vegas... or Atlantic City. ICe
Just as long as you are certain to be profitable because of a great past record AND your mind is capable in managing the extra stress/fear involved in dramatically increasing your trades.
Read your SEC rules....I don't make em'... just enforce em'. Where do you live? Michael B. Just joking.....always wanted to say that...
Sorry, I havn't been back to this post in a while. I don't actually trade that size or anything close to it. I was just using that as an example. I am a new trader with limited capital. I actually prefer swing trades out to a few days or more, depending on circumstances. I completely agree with you regarding this rule, it's not difficult to work with the regulation. I was more curious than anything. I have noticed that some securities can break out dramatically in one day from periods of consolidation and then completely colapse the next day. I'm guessing heavy profit taking is responsible for this.