The Pattern Day Trader rule (PDT) is an unconstitutional and illogical law that limits the ability of lower-income citizens to make money in the stock market. It states that you must have $25,000 in your broker account in order to be able to place more than three day trades per week, meaning being able to buy and then sell a stock on the same day.

The rule was started after the dotcom bust and was meant as a way to prevent new traders from losing their money in the market. Instead, it now causes many to lose money because they can't even put a stop-loss order on new stocks they buy until the next day for fear of being tagged as a Pattern Day Trader and then prohibited from day trading for 90 days. 90 days! They also can't sell that stock for a profit if it happens to rise that day, instead forcing them to hold a stock that may plummet overnight, which is when companies usually release bad news. 

It also forces those who want to day trade to use offshore brokerage accounts, which is riskier and doesn't give them the same protections afforded to traders using U.S.-based brokers. Or to use multiple brokerage accounts, which makes trading more complicated and limits the size of trades people can make because you have to spread your money across multiple accounts.

There are no government rules that limit how much money someone can gamble in a casino or how many lottery tickets they can buy, but for some reason it's okay for them to limit how often citizens can trade stocks, a much less risky option? It's beyond unconstitutional and is incredibly discriminatory to both younger investors and those with less money to invest. 

There may have been a time for this rule but that time is gone. Many online brokerage companies offer free trades so people aren't being burdened with high fees. Also, social media has given people a platform to learn more about the stock market and interact with communities to discuss trading. There is a wealth of information online that wasn't previously available to retail traders. Finally, it's simply not the government's right to tell us how and when we can invest our money.

This unconstitutional law needs to be repealed so that all U.S. citizens have the opportunity to invest in and profit from the stock market the way that big banks and rich investors do. It's time to let everyone have a chance to grow wealth.