Eliminate or Reduce the PDT RULE!
Eliminate or Reduce the PDT RULE!
We the Traders and Investors of The United States of America Request that the Pattern Day Trade Rule created and regulated by F.I.N.R.A. ( The Financial Industry Regulatory Authority for The minimum equity requirement Rule 4210 which was approved by the Securities and Exchange Commission (SEC) on February 27, 2001 by approving amendments to NASD Rule 2520 be Changed and Amended and then approved by the Securities and Exchange Commission.
We the Traders of The United States of America, under the United States Constitution are protected from the criminality of preventing us from utilizing our own hard earned income to risk as entertainment and grow wealth as we see fit. We are still required to pay taxes on any gains, in the event we have realized profit on our trading anually. So there is no reduction or exemption from Taxes under this amended rule.
This is our free will as it harms no one outside of ourselves financially.
Rules can be implemented for households or persons of certain monetary value if necessary. Example a household with less than $20,000 household income would be limited by the amount of money they could trade with Margin or Shorting Stocks. Until they organically reach a higher networth to lift these requirements through trading specifically.
Therefore one could not risk their home due to the nature of margin calls etcetera. Each individual is bound by contract to the brokers used for trading to respect their contractual oath of not insider trading etcetera or breaking any other rules of stock market related trading produced by FINRA or the SEC.
At Minimum we request that the PDT rule be reduced from $25,000 USD (the current Pattern Day Trading Rule) and expanded in the 4 day trading window of 5 business trade days. In terms of Minimum amount Lowered to $5,000 USD. and prior to earning or placing $5,000 USD, be allowed to trade up to 10 times in a 5 day moving window. If the account is less than $5,000 USD and the trader breaks this New 10 day pattern day trade rule, the account would still be locked or banned for the term of 90 days.
$5,000 USD is more than enough to utilize learned and taught skills of trading. If our citizens are to continue working with minimal retirements and money saved due to certain limitations of trading, our economy will only grow weaker and society will likewise become poorer over time.
Everyone should at minimum be taught the base line fundamentals of how the stock market and its other facets work, whether in school as economics or as a secondary educational school.
This will allow a multitude of traders to accept investing and learning to trade and invest in the stock market utilizing, Options, ETFs, and Traditional Stocks and Funds. Giving them a chance at a better life and to even the playing field of Traders and Investors, trading with large sums of money.
Allowing the average hard working American man and woman alike to be free to trade in the stock market with REASONABLE limitations if necessary. Giving us these rights and allowing us to partake with our funds as we individually see fit, and not being barred by such high limitations.
Thus giving society the ability to become richer and build more enterprise, wealth and growth for our citizens.
Those that wish not to participate are not subject to trading laws, therefore trading laws should only prevent unlawful trading activities such as insider trading and other malicious types of advantaged trading.
Please Join me and my fellow Traders and Investors on this Journey!