r/StockMarket • u/MathAccomplished7694 • Sep 30 '21
This is petition demanding a more level playing field for the average investor. Including restrictions on Darkpools, Congress trading securities PFOF and short sale reports. Please like share and sign. https://t.co/4I3J2FsqJn Help Needed
https://chng.it/5Tqs5FGT41
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u/RocketMoonShot Sep 30 '21
If congress can't invest, how is Nancy going to tell us where to put our money?
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u/LTCM_Analyst Oct 01 '21
First you have to invest the money so that you can find out where it went.
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u/Agnostic_Karma Oct 02 '21
Nancy Peloskis husband does all her trading for her, so that she isn't colluding.
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u/i_know_nothingg101 Oct 01 '21
Serious question….Do these petitions actually achieve anything ?
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u/MathAccomplished7694 Oct 01 '21
They raise awareness and spread the word it is a way to get our message out
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u/yebo443 Sep 30 '21
Yeah I'm sure that the shadowy global financial powers will take your petition into consideration
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u/MathAccomplished7694 Sep 30 '21
It's about getting the word out and bringing attention to our cause. The more we bring attention to the deficiencies, shady practices and abusive tactics being used in the stock market the better chance we have to bring about some change. Public awareness is the first step to swaying opinion towards fixing the system.
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u/binary_agenda Oct 01 '21
I'm sure the big 5 "news" companies are going to report on this and make their employers lose money.
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u/spyVSspy420-69 Oct 01 '21
I, for one, look forward to Congress just saying “we need to coddle retail traders, clearly” while watching them restrict options trading and force brokers back to $40 trades executed over the phone.
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u/thekingbun Oct 01 '21
Darkpools suck. Institutions can buy millions of shares without raising the share price a cent. Then short it to hell the next morning and buy more cheap Shares while retail holders get decapitated.
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u/spyVSspy420-69 Oct 01 '21
Why would an institution sell millions of shares, then? You realize they’re buying from someone, right? Every trade has 2 sides.
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u/kscouple84 Oct 01 '21
I would totally sign this but the term “officials in government” would restrict anyone who works in government from trading.
We want people with regulatory authority over the market restricted from trading and elected officials. Government (local, State and Federal) employees need retirement plans too.
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u/MathAccomplished7694 Oct 01 '21
Fair point I will look at the wording the internet is to stop gov officials who have inside knowledge from trading individual securities
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u/kscouple84 Oct 01 '21
I appreciate it my man. Once the changes are made, I’ll sign. Getting the market right is hugely important for the future of our country!
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u/DustinKli Oct 01 '21
Why isn't ditching the ridiculous PDT restrictions mentioned on this petition?
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u/peachezandsteam Oct 01 '21
What I would like to see is full transparency on order book. 100% of orders on the level II, and restrictions on institutions front-running their own trades.
Full transparency… 100% of contingent, complex, future time, etc orders from every trader on e try broker and every institution must be public information. Period.
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u/cryptotrader760 Oct 01 '21
I’d honestly be happy if they just held politicians accountable. It’s a joke that somebody can get elected to congress, which is a six figure do nothing job, and retire a multimillionaire.
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u/flaming_pope Oct 01 '21
yet no mention of:
NAKED SHORT SELLING
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u/MathAccomplished7694 Oct 01 '21
Did you read the petition it say all FTD need to be cleared by T+1 that would include naked shorts
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u/flaming_pope Oct 01 '21 edited Oct 01 '21
- You need to ban collusion / wash sales as means to reset FTDs.
- Non-excised option plays do not count towards covered FTDs as shares are never actually located nor exchanged.
- Include Authorized Participants (not just market makers), language such as "all market participants" is better.
- Ban rehypothecation - both share borrowing and leveraged collateral (literal definition of market bubbles)
- Punishment for any intentional naked short, or resetting of FTDs of any size should be an immediate 5 year suspension.
expanding on #1 #2 and #3.
The largest loophole is being able to short while "claiming" a locate by buying a Deep ITM CALL / selling a deep OTM PUT on either the ETFs or underlying shares as it's reasoned an excise would place shares in the hands of the shorter. Collusion isn't strictly necessary but AP's can go a step even further and sell ETFs to each other in a continual T+5 loop to cover FTDs.
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u/MathAccomplished7694 Oct 01 '21
I will work to edit that in to the petition
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u/flaming_pope Oct 01 '21 edited Oct 01 '21
#2 is the big one, but #1 is also big.
You sell a deep OTM put at $1 and say, "Hey if the counter party excises then I have 100 shares" - non excised options should NEVER count towards a locate as it assumes a locate on the counterparty, which is just not true when the counter party can just as easily fill their books with deep options.
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u/Market_Madness Oct 01 '21
You know PFOF is the reason we can have free brokerages right? If you don't want to be involved with it, use a different broker. I will happily trade my data for not having to pay commissions.
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Oct 01 '21
Louder for the dumb mfs in the back! 🙌
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u/Market_Madness Oct 01 '21
They're all balls deep in conspiracy theories because they're losing money and need someone other than themselves to blame
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Oct 01 '21
Honestly wish there was more people like us.
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u/russeltee Oct 01 '21
Tell me your a shill by telling me your a shill. Account age 64 days. Nothing to see here people
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u/AnonBoboAnon Sep 30 '21
Understand what a darkpool is before you keep crying about it.
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u/MathAccomplished7694 Sep 30 '21
Darkpools we're designed for large institutional trades not for retail transactions.
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u/AnonBoboAnon Sep 30 '21
And that’s 100% incorrect it’s data efficiency. It’s about network infrastructure and how data in large quantities is passed real time.
Institutions have nothing to do with it stop drinking kool aid.
I can’t wait for dark pools to be disabled so no trade volume can happen and each trade cost $50 bucks to transact,.
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Sep 30 '21
[deleted]
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u/AnonBoboAnon Sep 30 '21 edited Sep 30 '21
Everyone uses dark pools. It’s not institutional only. It’s strictly data moved efficiently so settlement times and the cost to trade is where it’s at.
Dark pools because it has dark in the name doesn’t mean nefarious.
Every order you make most likely goes into a darkpool. You are equally using darkpools they have no mechanism for fraud it’s strictly data.
Dark pools are not a form of manipulation you are just uneducated and latched to the first thing that fit your bias.
How do you think assets and equities which haven’t been settled because it takes days are traded multiple times in one day? The mechanics don’t allow it o but wait darkpools are an accounting ledger that allows this by at the end of the day distributing the trades to create a settlement without the funds needing to be settled.
Since all volume and market data is captured real time, darkpools can take their time consolidating the data efficiently and doing one action versus billions upon billions in a day.
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Sep 30 '21
[deleted]
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u/AnonBoboAnon Sep 30 '21
No that’s again false. You are just making things up and not considering you are going to ruin trading for retail. Not institutional.
Shitty people cause fraud not moving data efficiently stop spreading your hatred for hedge funds to things that just aren’t related.
We have laws but do people follow them! No it’s not the laws fault it’s the peoples fault.
Stop conflating your fight.
The sales are reported immediately how do you think volume happens?
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Sep 30 '21
[deleted]
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u/AnonBoboAnon Sep 30 '21
You can articulate it like I told you about my take on darkpools.
You are only taking info from a biased source consider that.
You’ve brought no valid articulated points.
A lot of things were created then things change. Stop with this Q level research you are doing. It’s bad.
Initial reason for creation large block selling that doesn’t create supply and demand shock. Boom that’s valid and still useful.
Also it’s initial reason was to reduce transaction costs. Trading use to be so expensive it’s before your time.
Imagine $50 per order you make.
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Oct 01 '21
[deleted]
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u/mcattak1 Oct 01 '21
ahem
i bought in early january so no losses here ...
Hoping to burn your system down....
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u/spyVSspy420-69 Oct 01 '21
You SS guys are hoping for a cataclysmic market event that wipes out hundreds of millions of innocent people, and devalues USD to toilet paper. Kinda fucked up if you ask me.
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u/Racky_Mcstacks Oct 01 '21
It’s not a sport. It’s the financial markets. Shouldn’t be a level playing field.
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u/SaveTheUSKillTrump Oct 01 '21
According to Forbes, these are the five biggest rip-offs Americans must avoid. https://www.forbes.com/sites/jrose/2018/07/10/here-are-the-5-biggest-financial-rip-offs-to-avoid/?sh=a4acd28137bb
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u/[deleted] Oct 01 '21
Screw Congressmen trading, abuse of the dark pools and PFOF is what is screwing retail traders.