This is only my second post, but I read this site daily and have learned more about daytrading here than anywhere I've been. It is was here that I learned about the new daytrading rule that goes in effect Sept. 28th. After learning about the new rule, I wrote a letter of protest to the SEC, and their reply was basically a written statement of the new rule changes. I also went a little further and called NASD Regulation, Inc. to get more information. I talked to Susan DeMando who absolutely would not let me get a word in, and after I told her I was paying for the call she hung up on me. But, what I was told has realy disturbed me; because I was under the impression that the new rules, effective Sept. 28, would allow me to have 4:1 margin, however, that is not the case. It is my understanding that we, still, will only get 2:1 margin. The 4:1 margin that everyone has talked about in reality means that you can only trade up to 4 times the amount of cash you have in your account in any given day; which is calculated at the end of the previous day, according to how much cash was in your account at that time. For example, if you have $25,000 in your account at the end of the day on Monday, you can only trade up to $100,000 worth of stock for the entire day on Tuesday. In other words, you can only do 2 round-trips if you buy 1000 shares of a $50 stock; this is because of regulation T. Meaning, that the trades do not technically clear for 3 days under current rules, and your buying power would be depleated. Ms. DeMando assured me that the new regulations were not for the benefit of traders. Instead, it is to safeguard brokers from taking loses on margin loans. I know this sounds un-American as one poster said, but it is here and has been passed by the SEC. The link to the website at NASD Regulation, Inc. is: http://www.nasdr.com/pdf-text/0126ntm.txt Thanks in advance for your response and thanks for all the good posts I read every day.