what is it with this t3 myth
One of the great myths of sharetrading chatrooms is the 'ol T3 traders.
Well I reckon its a load of cr@ppola.
Most of the discount online brokers have a three strikes and you are out policy on non-settlement and the decent full-service brokers, even the bucketshops will carry you if your credit is good (ie if they have sufficient security...)
If you don't meet any of these requirments then your life as a trader will be brief indeed - not because you will go broke but because your account will be closed.
In a way it is self regulating - if you don't have the funds to be trading or a decent margin account at the very least then you wont be for long. q.e.d.
Its far more likely that the run today left too many looking at too big a profits, then the mugs got on board, the profit taking started and then psychology (call it panic if you like) kicked in.
Bet not too many of the traders who bought 13.5 or 14 who actually have a future at trading ahead of them are still holding tonight.
Cheers,
ADY Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
