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Can you be more specific and give an example?

First a couple issues. 1. Trading must be your primary (and possibly your only) source of income. If you have other income it's quite possible the IRS will not grant your application for Trader Status. If you create an entity and the income from this entity is from trading, and possibly...

I recently had a client with a very similar situation. He was a dentist who testified as an expert witness for additional income. He decided to pursue a Law Degree but the deduction was disallowed because it wasn't related to his primary business. Since you have trader status and you're...

Probably because they are all scams. The who can do. Those who can't teach.

You're talking my language. The markets are nothing more than a massive random number generator. If you can view the market as such there are almost endless tools to work with that data. When I entered the profession I was steadfast that the markets were not random and P/L suffered as a...

http://www.amazon.com/Stumbling-Happiness-Daniel-Gilbert/dp/1400042666/ref=tmm_hrd_title_0

There isn't a thing wrong with having money and not spending it and there most certainly isn't anything sad about it. In fact, those who portray the image of being wealthy generally aren't because they are enslaved by their massive mortgage and car payments. Did a tax return today for some sap...

Africa is the most resource rich continent on the planet. Unfortunately for the vast majority of the countries in that continent they lack the knowledge and technology to take advantage of it but I think that's about to change, one way or another. You all remember McCain saying the US would be...

You kinda sound like you know your shit on Oil, EMR. Bout the only thing I know about oil is how to trade the blasted futures. Damn profitable instrument if you know how to play it -- long or short :D

It took me 2 seconds to find this. I guess my answer about the F-distribution was wrong. It would be more like a normal distribution with the middle class buying most of the lottery tickets. Here you go. This will answer a lot of your questions. http://www.mjyoung.net/law/lottery.htm

I work in the field of taxes, in addition to trading and I may be able to answer some of your questions, although they don't specifically pertain to the type of work I do. Much of my time is spent doing research on Title 26 and fighting the IRS when they don't agree with me :)) It's always fun...

These missle strikes can take out Lybia's air assault but much of the battle is occuring on the ground. What can the coalition do about that if they aren't going to commit ground troops? And I think they shouldn't.

bump. C'mon Elite Traders. Reach into your pocket and donate to this cause. Giving makes a person feel good.

Through the American Red Cross. I just sent a few hundred bucks. Join me in helping the Red Cross in this cause. http://american.redcross.org/site/PageServer?pagename=ntld_main&s_src=RSG000000000&s_subsrc=RCO_NewsArticle

This is laughable. I can't remember the last time I read a newspaper. ESPN.com for all sports. Craigslist for classified. Store websites for weekly sales. Google for headlines. Yahoo Finance for business news. And the New York times wants to charge me for what I can get for free? Big...

The Government said inflation is low. You didn't get that memo? I went to fill up the other day and it cost me about 40% more. Went to buy some coffee at the grocery store and the price was 50% higher. Oh wait! Stupid me. Inflation doesn't count those sort of essential things.

Texas doesn't have a state tax but considering the budget deficit they may start one soon and if you have money living in just about any state is great, assuming the weather doesn't suck.

Man BB. Just went to your Blog and I think you should change the word "bet." Trading isn't gambling unless you don't know what you're doing. Change "Bet Size" to "Position Size." I still think you need more time before you start mentoring but I wish you luck nonetheless.

LOL. You definitely got a point here. Some are easy to work with but most are a royal PITA.

You bring up a pretty interesting point. I trade full time and I own a business that manages futures for clients (trading) and does taxes and I can easily say that the return on invested capital for the business is far and away much higher than the return on pure trading. When you trade...