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LOL. Not the most powerful offer I've ever heard. Don't wait by the phone.

LOL. Not the most powerful offer I've ever heard. Don't wait by the phone.

No, they aren't. The FALL in the stock market from the peak of the business cycle to the market lowest level in the recession was 21.0% in the 1970 recession, 33.88% in the 1974-75 recession, 10.6% in the 1980 recession, 18.2% in the 1981-82 recession, 14.6% in the 1990 recession, 10.3% in...

A recession, by definition, is negative growth over a period of at least 2 quarters. Given that, it would be difficult to expect the stock market to be rising, except during short term countertrend movements.

Yes, it could well be a dead cat bounce. Best to be cautious on a day like today and not throw a lot of size into it.

And there it goes. :eek:

LOL. With aggressive options trading you just might make it until 3:45 EST your first day before blowing out. But not likely.:eek:

I do have to feel sorry for Bernanke being forced to sit in front of this group of pontificating blowhards. A very, very sad testimony on the people we have sent to "represent us".

A self-employed person, trader or otherwise, can deduct health insurance.

Assuming that by "job" you mean that you are in a workplace during most of the day working for someone else who is paying you a salary, then no, you won't get trader status. If you are doing a part time gig for a few hours a day, but spending most of your time in the markets and it is your...

You do not need to make a great number of trades to qualify for trader status. You don't even need to be a "day trader". However, you need to demonstrate clearly that it is your primary source of income, and that you are engaged in it regularly on a daily basis. If you are doing one trade...

Yes. Self employment tax is based on "earned income", and the IRS does not consider trading income to be earned. Go figure, but that is the way it is. So that is a huge advantage in filing as a trader, so long as you can meet the IRS definition of a trader. And yes, you can deduct all...

Look at that DRYS move this morning. 3 min charts. What a ride! Easy money.

Probability of Profit projections usually make assumptions regarding the underlying remaining in a certain trading range, or taking a particular direction. And those assumptions can never be made with any degree of certainty. There are just too many market forces and other variables at work.

Past results are never a guarantee of future profits. How many times have we all read that? Well, read it again. The point is, no matter how strong the system has been performing, the seatbelt sign at the trading desk is ALWAYS illuminated. Seatbelt always fastened.

My apologies to you for an earlier post that gave the initial benefit of the doubt to IB. Glad you stuck with it and got things cleared up, and uncomfortable to hear that they indeed had issues to led to this problem.

Yes, diversification. If you've been holding only a single position and have not yet gotten badly wacked, then you've been lucky, and your concern is justified.

You should also look into Investor RT at www.linnsoft.com. There are many IRT users here on ET.

IMHO, 'intraday trend' is a non sequitur. For every 'trend' that you think you're seeing, you'll get sucked into 5 trades that toss you a loss. Because typically, unless the market is moving very strongly in your favor, the moment you identify a trend is the moment that smart traders are...

I'm very supportive of having two portfolios...one long term and one for short term...as that has always worked well for me. Regarding margin for daytrading, IF (repeat, IF), you are consistently profitable, and IF you are going to close all positions at EOD, then use of margin is a great...