You destroyed yourself. That is, assuming you clicked the "submit" button for your orders without someone literally holding a gun to your head.
PDT rules may have destroyed the profitability of what would have otherwise been perfectly good trades. When you find yourself subjected to these limitations you too will complain
The key is who will you complain to? Or will you simply waste time and blow off steam? By the continual posts I have to wonder if you or qdz or anyone honestly (tell the truth) thinks the powers-that-be at the SEC are secretly lurking at ET and saying to themselves, "Gee, if we see 1 more complaint, not sent to us but posted on ET, we'll jump right on this baby and change that crummy ole unfair PDT rule. Yeah.... that's the ticket." :eek:
So unless you trade strictly intraday you can't be profitable? Some of my best trades lasted 2-10 days, and some of my biggest churning sessions occurred intraday. It can be done if you take the time to learn how.
In all honesty, the rules did not do you in - your attitude and inability to change have done the trick. Rules and markets change all the time. A day, maybe two of bitching is understandable - never ending whining isn't. The rules is the rules - you and all the other small fish ain't gonna change them. Does the name Bunker Hunt mean anything to you? Back in the 70's he and his brother cornered the silver market - it pissed off the big boys, they changed the rules in mid-stream, and ruined the poor bastard - billions! The one thing I liked about him was the fact that he complained less then you have.
We've both encouraged and urged readers to send their complaints to the NASD and the SEC, and provided the e-mail addresses for them to do that. If qdz happens to feel frustrated enough at a given moment to post a message saying "I am totally pissed off" it's hardly different from people who create threads such as "I quit" or "I blew out". At least qdz isn't just saying "I quit" because he couldn't cope with the market. Even with the PDT rules handicapping him he isn't quitting. Nor did he blow out by borrowing from others and using leverage to increase his risk levels. He's trying to trade according to his own means, without using margin, and without borrowing from others to put $25,000 in his account. He's written to NASD and SEC, as if that's going to do any good. If having done that, he has left over frustrations (who wouldn't) he needs to express, I think he's entitled to. No one's holding a gun to his head forcing him to click the SUBMIT button to place orders. No one's holding a gun to anyone else's head forcing them to read this thread either.
Yes he needs to adapt and develop new trading strategies that allow him to hold overnight. And he needs to learn to trade without the benefit of being able to place stop-losses. While he's doing that he has the right to be pissed off about it. You would be too.
You're the guy who created a whole thread to whine about your loss of CME Market Sounds. Others on here like to give you crap for your posts and say you're wasting space on here with your little parody reports. Qdz isn't one of them. Please don't take out your frustrations on him.