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@xxxxatt.ne.jp>
To:
"Tomasz Janeczko" <amibroker@xxxxxxxxxps.com>
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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