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Vote to abolish the PDT rule

Discussion in 'Stock Market Today' started by OldFart, Dec 7, 2017.

  1. OldFart

    OldFart Well-Known Member

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    https://www.change.org/p/joel-r-han...tial.combo_new_control_progress_110217winners

    PDT (pattern day trading) regulations and rules for stock traders are discriminatory towards people without large amounts of cash on hand. The rule states you must have a minimum of $25,000 in your brokerage account in order to be a PDT which allows unlimited day trades with 4X margin. Otherwise, if your account is under $25k you are stuck with strict rules stating you can only make 3 day trades in 5 rolling business days with normal overnight margin. Just another rule favoring the wealthy. Not having $25k on hand does not make you a naive trader or unable to handle some risk. Further, day trades are far less risky than overnight position trades as all major news happens during close where the biggest losers happen from news such as dividend changes, executive changes, earnings, acquisitions/mergers, downgrades/upgrades, ect… This is just a silly rule that needs to be discarded like white and black restrooms were.


    This petition will be delivered to:
    • Joel R. Hanson
     
    Timbo, Jrich, T0rm3nted and 2 others like this.
  2. StockJock-e

    StockJock-e Brew Master
    Staff Member

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    Im all for this, its a stupid rule that served no purpose other than preventing small account holders the same freedoms as those with $25k accounts.
     
    Timbo, bigbear0083 and OldFart like this.

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