PDT OR TO NOT PDT?

By: ShortMeTina
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This has to be a personal choice but I do have my opinions.  I always have opinions.  Some profoundly sound; others “rubbish” nonsense. 
To be clear; PDT was never an issue for me as my account stays above the required 25K.
With all of that said, this is an ongoing issue in the trading community. You don’t have to venture far to realize many traders are beyond frustrated with this government-implemented rule.  Click here for a thorough explanation. 

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In gist; unless you have an account that maintains no less than $25,000 you can not complete more than 3 day trades in a 5 business day rolling period. 
To simplify, you cannot open and close (on the same day) more than 3 trades per given week. 
Traders akin this to blasphemy (maybe a bit harsh); they see this as the government trying to suppress the “little guy” or in our case, the retail trader. 
I’ll admit, when I first started out and for a very long time; I agreed with this premise.  I thought, why not allow folks to trade as freely as they want.  Perhaps on a philosophical level, I still agree with this.  I mean, as an adult I should be able to do with my money what I want, when I want. 
The argument many traders make is if it weren’t for the PDT rule, day traders would be able to capitalize and capitalize in a big way.  Think, millionaire status. 
However, like most things in life; this premise got me to do a lot of thinking about the PDT rule. 
 
Is it unjust?  Another ploy by “The Man” to keep us retailers down? 
 
The answer to that is for you to decide but here are my thoughts. 
 
I have already rambled on so my point will be simple.  PDT allows you to lose money slowly. 
One could argue, the rule is there to safeguard you against this tough game. It gives you enough time to understand the game before losing all your money in the game.  Thus, perhaps giving you a chance to compete without losing all your funds.  
Opening up multiple accounts to circumvent that process will accelerate the loss of your money.  As oppose to losing it all in a year or so; you will lose it all in about a month. 

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