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Strategies & Market Trends : Classic TA Workplace

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To: UnBelievable who wrote (22079)	11/21/2001 4:18:39 PM
From: At_The_Ask	Read Replies (1) of 209892

Minimum is now 25k for daytraders. You get 4x your nyse excess compared with 2x before. The rules are designed imo to cripple the little guys. They discourage use of stop losses and other "good practice" trading techniques. Little guys are the meat and potatos of MM's and specialists so I dont think they want them to be too precise. It encourages guys too hold bad trades longer. A note to anyone that reads this NEVER exceed your daytrading buying power! You will get fragged for "overdaytrading". Your margin ability will be taken away "indefinitely". I know because I held a short overnight, sold it and thought I was free to trade the funds that would be gained from the sale. WRONG! In one of my accounts now I have to trade with only cleared funds and with a broker paying full commission. Ouch!

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