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Got the good news: corporate income taxes are now $3k/month, up from $2k. I should feel richer...

He has many grand plans for the world. So long as it's other peoples money. Just like most rich people!

No, of course your political views don't bias you. There are two political views as far as I care: 1) I want to tell YOU want to do 2) Do what you want, just leave me the fuck alone I suspect you fall under 1

Just the account with real money in it. If you are saying did I make money on the paper trade, yes. As I mentioned before last week was $8K on $100K capital going both long and short.

But you're doing it with a prop-trading firm, correct? So it's not /really/ 60K...

Well said. I hope ;)

In the investment account. Not as much as on paper :)

Definitely. I am planning to paper trade for at least a month, if not more. The "inactive" account fee is very minor to get a high level of confidence. For what it's worth, I made money going both long and short using candle indicators. But you are very right: last week was pretty easy to...

Why go for a homerun when four singles will do you just fine? My plan is not to make "real money" so I can pimp and roll in a Mercedes. It's just something to finance the next stage of my life. I think I can do just fine with $100K in capital. We'll see.

Wait, what do you mean by I am correct and it is impossible? Say there is a 6% median in a bull 3x and further, say you are right 40% of the time. I hope that is not out of the ballpark for good traders. Now if we use the rule of 60, that is, I don't pick tops or bottoms but make money in...

Please, tell me more :)

Exactly. In the last two years, the TNA ETF (a 3X bull) has had a median of 6% difference between high and lows throughout the day. I believe you can surely find a few 3X ETFs that you can trade throughout the day for well more than half a point on 1000 shares. Am I insane? Anyway, I'll be...

No, I meant gross expenses where tax is counted as an expense. $8-10K go out of pocket where average 2-3K goes to feed the government beast. This includes corporate income taxes, which are around $2k/month. So our expenses monthly are anywhere from $5-6K, which, for a family of 4 and a...

Apologies if you get this reply twice. For some reason my initial replies did not go through. Why not outsource the leverage to a 3X ETF instead? The *median* value of daily (high-low)/open of the TNA ETF for the last two years is 6%. Median! Can you perhaps explain why this is not a valid...

Only for business-related expenses where I'm from but anyway, that is neither here nor there.

All taxes in, I think my costs are pretty average for a family of 4! When I say taxes, I mean /all/ taxes. Sales tax, personal income tax, corporate income tax. I am goddamn anal when it comes to finding out who is stealing from me. $2k/month is spent in taxes alone.

If you are trading a 3X ETF, the leverage is built-in to the stock. Why take on the leverage risk yourself? Maybe my calculations are wrong but you can expect similar results if you have 3X leverage (good luck with that) in a SPY-like stock or a 3X bull/bear like TNA/TZA.

Wow! So what kind of capital should someone be using?

Thanks. I don't trust the market over long periods of time. I want to be in cash at the end of every day, profit or loss. A few days last week, I did some intra day paper trading. My net is about $8K on my risk capital of $100K. Of course, this says nothing about long term prospects but it...

Warning: noob alert. I find some contradiction in these forums. Day trading, I'm sure, is controversial so I would expect some contradiction. But this is plain weird. One thing I noticed is that some on this forum think that it is nearly impossible to reliably generate a 8-10% return...