I'm not a stock trader, but it just burns me up that the SEC has taken a stand on the "proper" trading strategy. I'm talking about day trading. What? Has the chairman read a book and figured out you make more money if you always hold at least three days? What about buy and hold? How much money have those investors lost in the last two years? Why doesn't he make an 18 month rule? They could pass a law which says, "Since so many unsuspecting investors get burned, they must close out all positions after 18 months."
Anyone who wants to trade 1000 per day should be able to do it. SEC shouldn't be in the business of telling people how often to trade. Limiting daytrading margins? Yes, SEC has a right to do that but that could be done without imposing the 25K crap.
You always get that type of mental disorder from SECs whenever a markets crashes ... everything will get back to normal whenever the market stops the bleeding ...
I was calculating my SEC fees and the number concerns me enough that I googled on it.... I found <a href="http://www.nvca.org/reducesec_fees.html">this</a>, for starters: There is some law on this tax is <a href="http://www.sec.gov/rules/final/34-38073.txt">here</a>. <font size=1>Thanks to Josh @ ISLD for the link.</font> Making the emini more compelling every day. In my dreams, it's just the specialist, the SEC, and the tax man, on an island somewhere...