Over the last several years the SEC has implemented several measures to "help" investors.
I wonder which "investors" they have been trying to help. I know many people like myself that make a meager living trading stocks, and every single measure they have introduced has only hindered our trading and helped hedge funds with the big dollars.
A recent example. The $25K rule. I didn't know how idiotic it was until it suddenly applied to me.
2 years ago I opened a trading account with a broker for $5K. This was not my first walk in the park, I wanted to try out this new broker. Things went well and about a month ago the account was worth $27K.
With the $25K rule, that means that I can now daytrade the acount without limits.......... or so I thought. With the market fluctuating wildly my account got a Notification 171619-K, which means that even though trades were placed while the account was over $25K the day they were placed, the account value dropped under $25K the next day, with no trades being placed, and the entire account was restricted for 90 days.
If you can't make sense of the above, do not worry, it doesn't make sense.
It is simply an example of how the SEC stops the little guy from trying to make a buck.
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