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Yes, completely silly as we can trade FUTURES contracts at many brokerages
with only $2K. What the heck are they thinking?
----- Original Message -----
From: "Yuki Taga" <yukitaga@xxxxxxxxxxxxx>
To: "Tomasz Janeczko" <amibroker@xxxxxxxxxxxxxxx>
Sent: Wednesday, March 12, 2008 9:14 PM
Subject: Re: [amibroker] Re: Interactive Brokers plugin policy change
> Hi Tomasz,
>
> TJ> US securities regulations require at least USD 25,000 (or USD
> equivalent) in equity to day trade.
>
> I always thought this was a silly little "looks like we are
> protecting the little guys" kind of law.
>
> So, somebody without very much cash is prohibited from repeatedly
> wagering (and let's assume losing) an amount of cash that is, by most
> measures, rather inconsequential. But somebody with poor trading
> skills and an amount of cash that is a bit more meaningful is free to
> squander their larger pile, which may be just as large a percentage
> of their net worth as is the case with the smaller guy -- until they
> have a very little egg left, which they are then "protected" from
> day-trading away. Such scratch-my-head public policy.
>
> Las Vegas gives worse odds than the equity market, but I don't think
> anyone is required to put up 25 K to "day-trade" Blackjack. ^_^
>
> Yuki (who agrees in principle that 25 K is not enough to attempt
> making a living in the market -- or at Las Vegas)
>
>
>
>
>
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>
Please note that this group is for discussion between users only.
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