The Injustice in Trading in the US - A Manifesto

Discussion in 'Trading' started by Quanto, Feb 17, 2024.

  1. Quanto

    Quanto

    Rich people can easily get even richer,
    but for poor people the hurdles to climb are much higher.

    For example: rich people with big accounts are not subject to the stupid PDT rule ("Pattern-DayTrading") for accounts < $25k.

    A tip for the poor: you can do it if you are cognitively better, ie. when you are good in maths and programming. And IMO everybody can be good; one just needs to train the brain... :)

    Your primary goal should be to get over the fucked up $25k account limit as soon as possible to finally be a free slave, to get the same rights and trading opportunities as the Richies, and to stop being penalized for being poor and slowed down on your way to become rich.

    Everyone should have the same opportunities. This unjust caste system in trading must be abolished.

    Will soon post some examples that practically demonstrate the big injustice I mean.

    But now I'm going to visit my hardworking slaves... :)

     
    Last edited: Feb 17, 2024
    DarkTemplar likes this.
  2. Robert Morse

    Robert Morse Sponsor

    I also agree that the PDT rule needs to be changed, I would prefer to see smaller accounts with less leverage vs being limited to the number of day trades. But there is and has been a solution. You can trade Futures. Futures have the same margin requirement for a $50mm account as it does for a $5000 account. There are a large number of different types of symbols, some have active options, and some do not. There is no PDT rule with Futures. And, in the USA, there is better tax treatment for Futures (1256 Contracts) and no wash sale rule.
     
    EdgeHunter, Axon, SunTrader and 2 others like this.
  3. We don't have the PDT rule up in Canada...but we do have the exchange rate but nothing the Norbit gambit can't overcome.
     
    DarkTemplar likes this.
  4. Robert Morse

    Robert Morse Sponsor

    What is max equity leverage in a Canadian account?
     
  5. ironchef

    ironchef

    Is that why most day traders trade Futures?
     
  6. Robert Morse

    Robert Morse Sponsor

    Are you saying to buy $10,000 of AAPL it requires $7000?
     
  7. $3000

    Clipboard03.jpg
     
  8. Hello Quanto,

    This is why I trade futures.
     
    MarkBrown likes this.
  9. Quanto

    Quanto

    Thx all for the suggestion for trading futures, but I'm a stocks & options guy :)
     
    #10     Feb 17, 2024