Momentum Daytrading - Tricks of the Trade Message Board

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Strategies & Market Trends : Momentum Daytrading - Tricks of the Trade

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To: Dan Duchardt who wrote (2060)	2/12/2000 4:09:00 PM
From: Wayners	of 2120

Thanks for giving me the Nasdaq rule as I now feel sick. If its up to the individual broker whether buying power applies to the total purchases or the largest open position of the day thats fine....I can switch brokers to one that calculates on the latter. No problem there. I'm not one that does a large number of daytrades per day anyways. The max I ever do in a day is about 10 and usually no more than 4 or 5. However I think this is unfair to the investing style of others who trade a lot bigger positions than me for smaller price changes. Those people provide liquidity to the markets that market makers currently do not provide with their measly 100 and 200 share bids and offers. While the $25K rule isn't going to affect me personally, I think its un-American not to allow equal access to margin for all equally credit-worthy individuals regardless of their wallet sizes. I don't see the real gambling establishments such as Atlantic City and Las Vegas restricting the amount you can wager at the tables or in the slot machines. I'm mad as hell now.

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