(I posted this on another thread, but thought it may be of interest to you all). Several attempts have been made, I am told, by firms to get past the rules for "daytrader" status. Even though it may not be in the best interest of Bright Trading (as far as attracting prop traders), I really think that everyone should be able to buy and sell as often as they like (which I guess is in our best interest, since we have more liquidity).... Anyway, you retail traders be careful, I won't mention any names but since this new ruling is self enforcing, a few have been pretty lax. One major thing came to our attention from the NYSE, and that is that there are a couple of Prop trading firms that have asked their traders to "waive professional status" so that they can save a few bucks on exchange fees. Has anyone ever heard of something so ridiculous...imagine jeopardizing all of your traders ability to ever trade again just to save a small pittance?? I am sure if any licensed trader got caught doing this that they would be "U-5'd" in such a fashion that they would not be allowed to trade.