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Comment for Orders and Other Announcements 85 FR 55434

  • From: Arnold L Jech

    Comment No: 62734
    Date: 10/7/2020

    Comment Text:

    Regulation limiting three (3) day trades within 5 trading day period should be re-evaluated on its intentions or merits, or better yet, eliminated. From my small account trading viewpoint, it serves no purpose. It only PREVENTS the small account from trading with the boys and electronic trading. It would be fantastic if small traders could be in and out of the market on short periods (daily) and make, or lose, small amounts during the day. on multiple trades. The purpose of this rule appears only to keep the small traders out of the market while allowing large traders or electronic trading the advantage. Trading firms have almost eliminated commissions for the small trader, now only the 3 trades in 5 days stand in the way. Case in point: On the 10th of October placed stop orders for opened positions that day. That was not intended to be day trades, but was placed for protection. Eliminate the rule. Thanks.

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