April 29, 2009
I just want to say that I am very disappointed in the day trading minimum equity rule. I am all for regulation of the market but this rule is a direct threat against my right to buy and sell assets as I see fit. I should have the right to buy and sell what I want when I want so long as the assets are legal for me to buy and sell. This regulation prevents me from placing stop limits on assets when I buy them and thus increases my risk. If more than four of my stop limits execute on the day I purchased those assets I am in violation of the day trading rule. This rule suggests not only that having more money somehow reduces risk but also that rich people should have more rights than the rest of society. I hope you reconsider this rule so that others can have a chance to make money, not just the ones who already have it.