/biz/ - Business & Finance

[Anonymous No.18242054]

This is such absolute bullshit.

[Anonymous No.18242053]

>>18239430
the most pathetic post of the day, I'm just going to pretend it's a b8

SAD!

[Anonymous No.18242062]

That's a nice way of saying the house always wins

[Anonymous No.18242063]

FUCK THIS RULE

[Anon̵̛ỳ҉m͢o̕us No.18242077]

>>18242054
That old lady trump calls Pocahontas sponsored that bill, thank her

[Anonymous No.18242080]

I WAAAANT TO DAYYYU TRAADEEE

[Anonymous No.18242081]

>>18242054
elaborate what happened anon

[Anonymous No.18242088]

>>18242054

[A̷͜n̵ó̸͟nym̶o͟u͢s̀ No.18242093]

>>18242054
>>18242077
Boomer market BTFO

[Anonymous No.18242094]

Imagine being locked out of the house during one of the most volatile trading periods in history

[Anonymous No.18242098]

>>18242054

What kind of gay shit is this then? Robinhood? DeGiro has also instated stupid rules that limit the bandwidth in which you MUST place your trades.

[A̵͢non̸̶ym͢͡o͘u̕͝s̀ No.18242101]

>>18242054
wtf is this shit

[Aǹo̧͢͢͡nym͠ous No.18242104]

>>18242054
t.b.h. they did you a favor, anon. RH just saved you $1k in future expired options

[Anonymous No.18242106]

>>18242054

lmao what market and/or exchange is this?

[An̴o̢n̕y̕͞mous҉ No.18242109]

>>18242054
Question. What's your win rate and ROI? Could be relevant. Exchanges don't like clients that consistently win.

[A͡n͢onyḿ͠o҉us̷ No.18242129]

>>18242098
>>18242101
>>18242106

Its US law retards. Unless you have some arbitrary requirement (I think it's $25k) in your trading account you're only allowed like 3 daytrades a month. A daytrade mean opening and closing a position on the same day.

[Anonymous No.18242130]

>>18242054
lol, I got dinged by TDA too. I was shorting the fuck out for SPY yesterday. Oh well, I still have RH.

[Anonymous No.18242141]

>>18242080

BINANCE

[A͏̡no͜҉ny͢m̀͡oùş͢ No.18242159]

>>18242129
> land of the free

[Anonymous No.18242160]

[Á͜n͘o̢ny҉m̵o͟u̷͘s̢ No.18242173]

>>18242129
>Its US law retards
Sounds like cope to me amerishit

[Anonymous No.18242174]

>>18242160

What is the reasoning behind this law? Anyone with less than $25k must be too stupid to trade?

[Anonymous No.18242187]

How do you retards not know about this?

You cant have more than 3 day trades within a 5 day period if you have less than 25k in equity. Why I have no idea. They claim it's to protect retail investors but the 25k has been the arbitrary number for ages.

[Ąn̸͡oņy̵mous͘ No.18242191]

>>18242174
The real reason? Obviously hedge funds lobbied politicians to back it so there's less daily unpredictability (all their bots can play nice if they're all making money). But I'm sure that's the reason they chose

[Anonymous No.18242206]

>>18242174

It’s literally that

[Anonymous No.18242214]

>>18242194
This but only desu

[Anonymous No.18242215]

I'm absolutely fucking amazed biz doesnt know about this requirement.

It's 3 day trades over 5 rolling days.

[Anonymous No.18242234]

>>18242215

everyone on here other than /smg/ is a coiner

>>18242191

good point


i

[Anonymous No.18242246]

Would it be illegal to empty the account and move to TD Ameritrade or another broker?

[A̡no͜n҉̧ym̷̸o͏u̶s No.18242255]

>>18242246
Funds frozen retard

[Anonymous No.18242261]

And btw, if you want to get around this and really make money. Just trade futures. You can directly speculate on oil/gold/indexes

Couple thousand can set up an account and with micros ES futures now, it's way easier. Basically 1/4 contracts which wont wreck a small account of the market swings after an entry.

[A̴nò́͟ǹymo̷̡͘͜us̕ No.18242286]

>>18242174
Peasants aren't allowed to play in the big boy's playground

[Anonymous No.18242313]

>>18242215
we are not all really used to your land of the free restrictions

[Anonymous No.18242331]

>>18242215
Because /biz/ aren't investors, 98% are crypto fags.
I'm here in eu, have almost same rules as usa since it involves some dollar transactions. Deals can be made with a bank, but again, they always ask for bigger portfolio.

[A̡̕̕no̶nym̶̴ò̸͝u҉s No.18242336]

land of the free

[Anonymous No.18242352]

> white rabbit

[Anonymous No.18242354]

Also, you can turn on day trade protection on most accounts which will give you a heads up when you're making that third trade and then completely lock you out from closing.

I try to day trade options with 12k robinhood account and have to be aware of it.

[Anonymous No.18242402]

>>18242129
>its the law
so retards like you stay poor and only the rich can make money.
I always said the stock market was a rigged piece of shit.

[Anonymous No.18242550]

>Boomers

[Anonymous No.18243017]

>>18242054
Put more money in your account, poorfag.

[Anonymous No.18243038]

I'm new here, any rules i need to know before trading? I'm french btw.
Have a good day, bears and bulls.

[Anonymous No.18243059]

>>18242054
There is a pattern in OP's replies.

[Anonymous No.18243080]

>>18242129
LMAO

[Anonymous No.18243082]

>>18242160
wtf??? is this serious? you can't use ta?

[Anonymous No.18243118]

>>18242159
We had freedom once, then people started complaining. Dipshits thought the complaining would stop if freedom was reduced just a little. NOPE

[Anonymous No.18243127]

>>18242054
Absolutely bullish

[Anonymous No.18243146]

>>18242098
https://vantagepointtrading.com/how-much-capital-do-i-need-to-start-day-trading-stocks/
Here's the law. It is stupid, it should be changed, but this is what it is now if you are investing in US stocks.

[Anonymous No.18243214]

>>18243146
> Can sell everything I own for cash
> Can walk into casino
> Can put entire pile of cash on black and let it spin
This is a perfectly tolerable risk for me
> Have 20k in stocks
> Want to day trade to take advantage of normal ups and downs of market
Woah guy that's too risky ;)

[Anonymous No.18243226]

>>18242054
literally just trade on Forex

[Anonymous No.18243251]

>>18243226
and lose money, fuck forex

[Anonymous No.18243297]

>>18243251
if you don't chimp out and over leverage you'll be fine

[Anonymous No.18243303]

>>18243214
Everything you own is less than 25k?

[Anonymous No.18243313]

>>18242054
WTF IS THIS SHITTY LAW OMFG, US regulations are a fucking joke.

[Anonymous No.18243321]

Stocks are stupid.
Trade forex.

[Anonymous No.18243335]

>>18243303
No, my point is you can sell everything you own and bet it all on a hand of blackjack, the federal government sees no issue with this, but if you want to day trade stocks then woah buddy; It's entirely to protect the big boys.

[Anonymous No.18243350]

>>18242215
/biz/ consists mostly of third world shitskins dawg

[Anonymous No.18243357]

>>18242261
futures also get preferrential tax treatment. they're also extremely liquid and easy to understand (by that i mean price, contango/backwardation is easier to undertand than the bajillion greeks) compared to options.

[Anonymous No.18243392]

>>18242054
They don't want poor people to get in and make money, as that would be too disruptive to the status quo. That's why they come up with these stupid rules. This is the reason why I only trade crypto. It's a much fairer market plus there are no taxes on crypto trades in my country, so I end up making a lot more money in comparison to stocks

[Anonymous No.18243498]

>>18242129
FREEDOM

GREATEST COUNTRY IN THE WORLD

>pfft

[Anonymous No.18243589]

>>18242191
To me it seems it’s about protecting small time (<25k$) investors from destroying their capital trying to beat multiBillion dollar Wall Street firms

[Anonymous No.18243635]

>>18243589
i think it's more like the wall street firms not having to waste time and money taking debts from small timers

[Anonymous No.18243642]

>>18243392
no, they just like laughing at dumb retards that don't read. Just so happens that poor people don't read.

[Anonymous No.18243700]

>>18243146
at this point i begin to understand why so many poorfags go to bitmex casino

[Anonymous No.18243711]

>>18243146
So the whole "land of the free" thing is tongue-in-cheek, huh. I never knew.

[Anonymous No.18243732]

It is a stupid law, yeah, but the stupidity works in your favor. 99% of you will only lose money by larping as day traders and it's just as well that you're locked out of it.

Everybody knows that only a tiny minority of day traders are actually successful, and everybody thinks they'll belong to that tiny minority. Nope.

[Anonymous No.18243743]

>>18242129
lmao imagine being a fucking yank idiot

[Anonymous No.18243748]

>>18242054
>Home of the brave

I guess you have to be pretty brave to live in that shitbucket.

[Anonymous No.18243765]

It tells you straight up when you sign up that you're limited to 4 day trades in a 5 day period and you need 25k+ to day trade regularly.

Whats the problem here?

[Anonymous No.18243807]

>>18242129

you need 25k+ in your account. until then, you are limited to 3 day trades in a 5 day period. a "day trade" is when you buy and sell the same position in the same trading day

if you dont have 25k+ and you feel like you need to day trade, your better option would be crypto. and honestly its probably better that you dont day trade because 90% of day traders lose money

[Anonymous No.18243809]

>>18243765
Because of pic related.
This law is deliberately designed so that the poor people can't earn quick money.

[Anonymous No.18243864]

DO YOU HAVE A LICENSE FOR DAYTRADING MATE?

[Anonymous No.18243907]

>>18242129
>Crytotraders are 99% poorfags

[Anonymous No.18243916]

>>18242215
>Always do the opposite of biz
Kek

[Anonymous No.18243947]

>>18243226
>Not paying the rollovers

[Anonymous No.18243954]

>>18243321
>Trade forex
>He doesn't know there's no forex only CFDs bucketshops
>Forex is rigged

[Anonymous No.18243965]

>>18243700
>This

[Anonymous No.18243967]

so land of the free but only for the rich

[Anonymous No.18243980]

ayyyy lmao

[Anonymous No.18244004]

>>18242246
>td ameritrade doesnt follow the same rules

[Anonymous No.18244025]

>>18242129
it's 3 day trades in 5 business days and it's only for margin accounts. if you have a cash account you can trade as much as you like but you won't be able to short since it requires margin.

[Anonymous No.18244049]

>>18242129

What the fuck, so you aren't allowed to change your mind? Death to Communists and the Jews, fuck em all to death.

[Anonymous No.18244284]

>>18242054
Imagine trading with patterns.

[Anonymous No.18244287]

I think Americans aren't allowed to trade CFD's too.

[Anonymous No.18244302]

>>18243967
Its for your own sake. Americans are to retarded to be entrusted with finance. Just stuff your money into a 401k and let corona.. eh government do the rest for you.

basically americans are paypigs.

[Anonymous No.18244352]

>not being an Accredited Investor™

[Anonymous No.18244481]

Lol, this is nothing compared to the requirements necessary to be an "accredited investor" to make the real big boy returns.

[Anonymous No.18244529]

>>18244025
So this retard could just open a separate cash acct and stop crying like a faggot to us?

Got you.

[Anonymous No.18244537]

>>18242129
>Land of the Free
HAHAHAHAHA

[Anonymous No.18244580]

>>18244529
The problem is that it takes 2 business days for a sell to close. So if you're buying and selling each day with your entire account balance, you're effectively trading on credit, because you just bought with unsettled funds.

[Anonymous No.18244620]

>>18244580
Ok, fair enough. Yea it is a dumb rule. we should be free to use our money however we see fit.

[Anonymous No.18244629]

>>18244580
Then how much do you trade?
Once per day or something?

[Anonymous No.18244654]

>>18242054

GOT EMMM

Whoever is dumb enough to still use this platform deserves to lose all their money.

[Anonymous No.18244705]

>>18244629
I almost never day trade. Sometimes I'll buy Monday and sell Tuesday, then buy something else that same day and sell Wednesday. As long as at least 2 days pass before you sell whatever you bought with the unsettled funds, you won't get flagged. And if you day trade infrequently, same thing.

[Anonymous No.18244788]

>>18242054
Thanks for your donation

[Anonymous No.18244796]

How can people not have 25k in their acct lmao

[Anonymous No.18244813]

>>18242054
>sorry goiym, you cant use (((our))) tricks

[Anonymous No.18244820]

>>18242054
>can't day trade
*laughs in eurofag*

[Anonymous No.18244830]

>>18242054
Get your money off that shit NOW. stop fucking with boomer platforms or you WILL lose it all. Buy SUTERUSU ya shit for brains!

[Anonymous No.18244837]

Hahahaha get fuckd.
Binance will never shut down

[Anonymous No.18244839]

>>18242129
Ah, so poor people are punished and the rich is rewarded

[Anonymous No.18244846]

>>18244830
Also, stop being so poor! See OP

[Anonymous No.18244857]

>>18242215
I dont even invest, im here for the memes. /pol/ is so fucking shit now its unbelievable

[Anonymous No.18244914]

>>18242129
Holy fuck boomers BTFOing zoomers once again, HAAHAHAHAHAHA

[Anonymous No.18245718]

>pattern day trading rule
>qualified investor
>circuit breakers
>9:30-4 except holidays and weekends
>Cede and company
>Fully capitalized derivatives market tail wagging the dog
>Standing repo facility, commercial paper facility, buying cmbs
>Zero reserve requirement
>Negative interest rates

[Anonymous No.18245812]

>>18242174
>Anyone with less than $25k must be too stupid to trade?
The SEC uses net worth as a measure of sophistication of the trader. You can't be a broker without $1M.

[Anonymous No.18245842]

>>18244705
This anon gets it.

>>18244620
You are able to use your money. As explained though, trades take two days to settle in the exchanges, so 'your' money, even though you clicked the sell button, is still in limbo for two business days.

[Anonymous No.18245875]

>>18245718
well would you look at that, a based poster on biz.

[Anonymous No.18245909]

Wow, (((they)))'really really not even trying at this point.

[Anonymous No.18245956]

>>18244025
>only for margin accounts
This is wrong, ANY account with less than 25k equity is subject to this

[Anonymous No.18245969]

>>18245718
Stop implying that this is a completely rigged market la la la I can't hear you

[Anonymous No.18245999]

>>18242129
this only applies to Americans, foreigners can day trade US stocks without restrictions

>be foreigner
>get free healthcare, great social services, comfy society
>can invest in US stocks and at the very least reap S&P gains YOY, but can also day trade without any restrictions
>meanwhile US workers, the engine of the economy making me these gains, go bankrupt unable to pay hospital bills and are generally treated like shit by corps and their govt, most live paycheck to paycheck and can't even save up to invest

The US is really the new China, using cheap slave labour to maximize economic output.

[Anonymouse No.18246050]

>>18245969

Well, you know it, do you ?

[Anonymous No.18246750]

>>18244839
poor people have low IQ and would certainly lose all their money day trading. they are being protected.

[Anonymous No.18247216]

>>18243214

>pile of cash on black and let it spin
>not chips, cash

Confirmed for roleplaying 12 year old that's never been to a casino

[Anonymous No.18248258]

>>18242054
What would happen if you spread your funds out across several brokerages for the maximum number of day trades, is this illegal?

[Anonymous No.18248273]

>>18242054
I can't imagine being this poor

[Anonymous No.18248304]

This is why crypto exists.

[Anonymous No.18248358]

>>18243589
if you were capable of "destroying their capital" you'd cross that $25k threshold pretty early on

[Anonymous No.18248381]

>>18244049
This is all Capitalism. Nobody hates competition more than capitalists

[Anonymous No.18248387]

>>18243214
kek