Rule 2520 "Pattern Daytrader" was put in place by the SEC in 2001 supposedly to "protect" the "less sophisticated traders". I believe this is just another way for our government to impose their position of power over our freedoms as Americans. That is our hard earned money that we pay tax on. I most certainly believe we have the right to do as we please with it. Many traders like myself, trying to get ahead of rising costs and lower wages in this economic crunch are the ones who suffer. While Rule 2520 paves the way for the wealthy, big business market makers to continue to take advantage of your average american. Its very existence jeopardizes the ideals of a free market. What's not realized is that this rule puts traders in riskier positions, but then again, it may have been the purpose.
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