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I should add that one thing that was interesting was that my original (local at the time) inspiration for starting to trade back then ended up being a mini-madoff and going to the big house. http://www.enquirer.com/editions/2003/02/09/biz_kisor09.html So imagine you are a few years in and...

My story isn't really all that unique or interesting. I started like many in the dot com heyday. I had no idea what I was doing. My style was the polar opposite of what it is today. I was very short term, I was very discretionary, no good money management, no appreciation for risk, no...

There does seem to be an inverse correlation doesn't there (referencing post counts...)? Occasionally though you find a very rough gem in these here woods. Mostly it is just entertaining though, sort of like people watching at a casino. I'm quite familiar with some of the surrounding area...

If things are working out for you, then by all means keep chugging. My point was that if someone hasn't been where the OP is, and therefore can't really empathize with his/her situation, then it doesn't make any sense why they would be commenting in a negative way, offering advice, flaming...

I see you are a UCI alumnus. It is a good (if underrated) school. I live very close by. Gotta love Cha for Tea, the best bubble tea due to very strict quality control (they taste EVERY DRINK before handing it over to make sure it is right). Of course the unintended consequences of this...

Let's have this discussion again in 10 years, assuming you are still around and profitable. I'll be very curious to see if your perspective has changed. Frankly you sound like someone who hasn't hit the wall yet and are full of bluster and bullshit. Someone who has been "there" doesn't walk...

I can definitely relate. The market broke me down, and I was rebuilt into the image of what you need to be successful as a trader/investor. Frankly I think the damage is permanent. Much like someone who goes through an incredibly traumatic event or series of events in their life. You know...

It had better be a fire-proof armored brinks truck of a falafel cart with a freedom fighter portrait painted on the sides or you are going to get a very quick lesson in what happens to someone trying to profit off, and in the middle of, an angry mob. You had also better just be handing it out...

Yet there are still tons of people getting taken every day. We should all just be objective and say "Listen, your odds of long term success are probably < 5% if you are retail or not professionally groomed/mentored". That is a grown up approach versus the two extremes of "Get rich for only 5...

The premise of this thread is heavily flawed but a few members have already cut it up nicely. I will say this: Go to Las Vegas, or AC, or Macau... take a good hard look around you at the type of people and personalities you are surrounded by. Especially the frequent flyers and people who...

Gentlemen, Dare I say, this may be one of the most constructive debates I have seen on ET in AGES (and I have been lurking for a long time). Perhaps an interesting subtopic would be, why? At any rate, I appreciate everyone's contribution (not just the people who seem to be in my general...

You are going to be paying a lot more than 15% unless you are doing some tax-oriented buy and hold scheme which is not efficient (even considering the tax benefits). It is also a disgrace to have to structure investment decisions based on the tax code. 23% is a gift, I do agree, but only if...

One other thing to consider for those of you who think you have the moral high ground here (the "be happy you are here, put a smile on your face when you write the check you selfish bastard" types): Our country purposely (throughout the imperial phase of our history) seeks security...

No one is saying become a citizen of a tax haven. Become a citizen of ANY first world country other than the U.S. and then just don't live there > 6 months out of the year. The problem is taxing you on your universal earnings and then making it very economically difficult to leave such a...

Your post is so full of holes and assumptions, and is such a mess, that I barely know where to begin. Let's start with the two above. 1. Let me be absolutely clear, socialism has EVERYTHING to do with taxes. One begets the other. How do you expect to pay for all of this nonsense? Run up huge...

Swan I appreciate your contributions as it made me go back and do some more research and while I haven't found anything particularly new and positive in terms of tax avoidance, it was a nice R&D experience into the latest trends in off-shore business practices. My posts on this topic in...

This sounds like an awfully murky area you are discussing. I am familiar with both IBCs and CFCs and it is pretty clear that investment income is taxable. The only ways I have seen to legally shelter income in a CFC is via a variable annuity or variable life insurance policy from a foreign...

It is certainly a personal decision, everyone's mileage may vary. It sure depends on the country too. People just need to be aware, it isn't just the tax today that you are giving up, it is the compound returns you are losing out on over the next 10, 20, 30 years. It is simple math really...

Make sure you consult a professional before taking such measures. Again assuming you are a US Citizen - If you have control of the foreign corporation (i.e. majority owner), then the IRS will treat it just like it was you personally doing the trading and it gets messy fast. If you are a...

It is on everything. http://hodgen.com/the-usa-now-has-an-exit-tax/ If you are willing to give all of your money to friends/family, then you just need them to be non-US citizens and then you don't need to expatriate, just trade under their account(s). Of course... funny things happen with...