Repeal the Pattern Day Trading rules!

I've only been trading for a year or so and am tired of being stifled by these stupid rules. Some have claimed they were put in place to help new traders but in reality they only hurt us by limiting when we can sell a stock. I've spoken to someone from FINRA and they said the rules were put in place to help the clearinghouses because they have to cover the margin credit and that multiple day trades makes that harder for them. But the big traders use far more margin than we do so that makes no sense. He also admitted that there doesn't seem to be any documentation or reasoning for the $25K limit – it's just arbitrary.

He said the best thing we can do to get rid of these rules is to keep complaining about them to FINRA, the SEC (they oversee FINRA), and our congressional representatives (since Congress oversees the SEC). You can contact the FINRA ombudsman (https://finra.ethicspointvp.com/custom/FINRA_HelpLine/form_data.asp) and they report all the complaints about the rule each quarter to the powers that be. The more complaints they get, the more likely the rules can be repealed or at least changed. You can also contact the SEC ombudsman (https://omms.sec.gov/). They'll tell you the rules are from FINRA but the SEC oversees them so they need to hear this as well.

Also, more people need to contact their Congressional representatives to get these discriminatory rules repealed. These are the people that FINRA told me have the best chance to change things. It's not easy to get our representatives to listen to things like this but the more people who try, the better chance we will have.

On that note, I started an online petition. I'm hoping to get enough signatures to use it to convince my representatives that this is an issue that lots of people care about. I've seen other petitions started but they've since been closed so I started a new one. Please sign it and help share it (https://www.change.org/repeal-PDT-rule).

Thanks and please let me know if you have any other suggestions on getting this stupid rule abolished. No one should be able to tell us how we can invest our money.