Great board! ~ The $25K minimum cash limit is a bad idea ~~~
For many reasons...I don't have a problem with it since I have two fully funded day trading accounts...One at Fidelity, and one at Scottrade...But, I teach my students how to day trade and many of them are restricted and frustrated by this limit on their ability to make money...Three ins and outs in a five session period does not give a trader a good chance of making a decent income day trading...
The easiest way to get this rule removed would be for the brokers to lobby for this cause...Not only are traders missing out on money making opportunities, but the online brokers are missing out on millions of dollars a year in lost commissions...It would be in their best interests to have this rule removed so that we and they could make much more money per year...
This would help the economy as a whole...The brokers and the traders would be paying more taxes, which would help the government get more money...And it would also help to increase consumer spending from the successful day traders...
IMO, there are many more benefits to removing this rule than keeping it...If every trader would write to their Congressional representatives urging them to repeal this law, that might also help...Maybe someone should start a petition and circulate it on the web until it has enough signatures to be valid, and then send it to the SEC...
Happy Trading,
zigzagman
News 
Market Data 
Discover 
