May. 17, 2020
To whom it may concern, Hello, I am James McDonough, I have been investing in stocks for a little over 6 months. I know I'm still learning, but I found being able to make smart moves limited because of this rule. I understand why such a rule is in place, but I feel it was lazily put together. The option I think makes the most sense would be to: PDT(Revised) Rule Restrict anyone using a margin account under 20k from entering and exiting a trade/stock more than once per day. This revised rule will: A) Allow investor to widen their portfolio while being able to use a stop loss on EVERY position they enter. B) Protect the market (especially micro caps) from having $24,999 being pumped in and out 3xs in a matter of seconds. C) Make the new, smaller investor learn how to spread out their capital into more than 1-3 stocks without being in fear of not being able to exit the trade for 5 days , or worse case 90 days. I urge you to please consider this rule as safer and more thought out way to protect both the new, smaller investor and also the market. Thank you for taking the time to read this. Sincerely, James McDonough