PDT rules create undo burden and increase the level of risk and loss associated with trading. Having a required $25,000 minimum was an already ridiculous standard, increasing that to $100,000 would be absurd. This is the type of wealth discrimination that allows for the rich to prosper at the exact expense of the average person.
When breaking news occurs and a stock that I purchased that morning begins to plummet, I cannot exit my trade and thus incur greater losses while those with a net worth in their account that far supersedes what the average American will ever have in their saving account can readily exit without penalty. In exactly what way was I protected in this situation? I was forced to keep a position open in my account that was losing money for fear that I would lose access to my account altogether if I closed my positions. This doesn't even include the fact that certain trading strategies require having a margin account even if the account holder is not trading on margin, meaning that they are incurring undo restrictions and loss for absolutely no discernible reason even by the poor rationale provided.
PDT regulations and requirements do not offer any degree of safety or protection for traders or investors. Offer me one piece of peer reviewed, researched backed evidence that suggests otherwise and I will reconsider, but your 'feeling' that it does offer protection is simply insufficient.
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Anonymous Comment On Regulatory Notice 24-13
This is absolutely ridiculous.
PDT rules create undo burden and increase the level of risk and loss associated with trading. Having a required $25,000 minimum was an already ridiculous standard, increasing that to $100,000 would be absurd. This is the type of wealth discrimination that allows for the rich to prosper at the exact expense of the average person.
When breaking news occurs and a stock that I purchased that morning begins to plummet, I cannot exit my trade and thus incur greater losses while those with a net worth in their account that far supersedes what the average American will ever have in their saving account can readily exit without penalty. In exactly what way was I protected in this situation? I was forced to keep a position open in my account that was losing money for fear that I would lose access to my account altogether if I closed my positions. This doesn't even include the fact that certain trading strategies require having a margin account even if the account holder is not trading on margin, meaning that they are incurring undo restrictions and loss for absolutely no discernible reason even by the poor rationale provided.
PDT regulations and requirements do not offer any degree of safety or protection for traders or investors. Offer me one piece of peer reviewed, researched backed evidence that suggests otherwise and I will reconsider, but your 'feeling' that it does offer protection is simply insufficient.