((almost sounds like that song, huh?)) Where have all the traders gone?, or more correctly posed, where will all the traders be going once their current trading firms change their capitalization/corporate formation arrangements? The industry of Proprietary Traders, Day Trading and soforth is and continues to be the hot or hottest potato to try to hold onto. If its true that more and more offices are closing then its a fare estimation that: 1) attrition through dwindling or slippage/drawdowns on the account are the primary cause 2) closing trading offices due to INF (insufficient funds, traders or head count) to support the operation will continue to plague more and more offices 3) SEC PDT is having the desired "competitive effect" upon the industry. The Pattern Day Trader Ruling has a pleasant upside in that it frees up all registered retail firms to offer higher (4:1) capitalization margin to more heavily capitalized customer accounts. More and more websites of the Prop Shops publically state that $35,000, $40,000 (Hold Brothers, etc.) and $50,000 (ETrade Professional, etc.) are required to be a licensed trader associated with their offices. Seems that the $2,000, $5,000, $10,000, $15,000 and $25,000 proprietary account opportunities have just about disappeared. By competitively offering almost the same enticements, namely magnified trading ability to all who qualify with/without being licensed is having a direct effect in pulling away more and more dis-illusioned traders from these offices. Have you noticed this also?