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Strategies & Market Trends : New Margin requirements -- Ignore unavailable to you. Want to Upgrade?

To: H-Man who wrote (3)	12/12/1999 5:41:00 PM
From: H-Man	Read Replies (1) \| Respond to of 20

well i dis agree or take issue with several things... " it's only directed at direct access firms," No, affects everybody, if you engage in a pattern of daytrading, broker makes no difference. the 2000 limit and 2:1 margin stay the same if you dont engage in pattern daytrading. (If i am wrong please provide a reference, as the 3 items i have read make no distinction) "Many of the EDTs already have minimum account requirements that equal or exceed the new rules." No true. The most popular MBT and executioner have minimum start ups of 5k min 2k mainteance. I started with 15k when opend my mbt account. I am typical. Some of the LLC's like Horbor securities et al do and have 25k minimum. But again, it is a pattern of daytrading that is at issue not the broker. Yes I had some experience when i started with my MBT accoung. The new rules would have stopped me. And fwiw the two best traders i know started with 6k and 22k respectivly. THe raise of the margin requirement will have no bearing on the newbie entering the market as a daytrader. A schmuck is a schmuck wether he has 10k or 100k ;) cheers H