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You got that right!:cool:

If you form a corporate entity, you'll be paying a lot more in taxes. The greatest advantage to filing as a trader is that your income is not considered to be "earned income". So you pay no self-employment tax (a big savings), or social security. If you pay yourself through an LLC or...

The purpose of a stop in an "investment" is to conserve capital that can, and should be, put to better use. If the OP, to use his Rimm example, had a reasonable stop in place, he would have exited before riding the stock to the dumps, and had an opportunity to re-enter at a much more...

It depends on the strategy. A momentum trader going long, or someone playing a long bounce off support, is going to like to see increasing volume. For obvious reasons. Falling volume generally signifies lack of buyer interest, not a good sign for a long position. But waiting for volume...

The most famous last words in the financial industry.

LOL. With over 6,000 posts on this site you are seriously asking what the problem is with holding losses hoping or expecting them to come back? Have you learned nothing in the past year? Aside from the fact that it is just a stupid strategy in every respect, consider the lost...

IMO, a good resource for new traders is collective2.com. Find the "Grid" on the site, and select Futures. You'll find systems and listed trades. Study the charts, get a sense of what others are doing in terms of timeframe, stops, etc. You won't find any secrets, but it should help in...

These discussions are such a waste of time. A scientist has no more credibilty when discussing God or an Ultimate Creator than does the Pope. No human alive knows anything for certain regarding the WHY of our universe, and likely never will. The opinion of your mail carrier is as valid...

The clearest and easiest short this morning in months. 10 pts ++ on the ER without even breathing. So much for standing aside.

The first and obvious thought is that your strategy isn't suited to a higher volatility environment. Although, most strategies tend to operate better in higher volatility. Mine do. So I'd be interested to know what you have that works in low volatility:p

It's a good idea to have dollars in both longer term 'investments', and short term speculation (trading.) They can be mutually supportive, especially during periods of low volatility uptrends when trading gets tough but holds are showing profits. Each has its value, and its time in the sun.

It isn't brain surgery, and a decent CPA should be able to handle it. But naturally, ask first. Also the mark-to-market issue is not related to initially filing as a trader. It isn't necessary, but may be helpful next year if you want to pursue it.

Yep, I'm with you on that one. Gotta love that Grey Goose with just a little frost on the top. Cold on the lips, smooth and warm going down. Yum.

Yes, except for the fact that he is simply too old to be taking on the job. The President of the U.S., as Commander in Chief, has tremendous power at his fingertips, unbalanced by our joke of a congress. And at 72, mental acuity is simply not what it should be, especially in someone who...

There have been a number of posts recently along the line of "I'm in my 50s and my life is washed up." What a crock of shit. At 51, the OP has 15 years until normal retirement, some money in the bank, and he's lucky enough to live in a country where anything is possible. You're feeling...

Getting individual plans can sometimes be a better deal than a family plan. So good to ask.

Put your trading aside for a few years and concentrate on getting your medical degree. The markets will always be here, but as you grow older other opportunities won't be.

LOL! In what way does he have more to lose than you do??? In fact, if you are challenged by the IRS in an audit that results in billable hours, your tax attorney has much to gain. From you. :(

If you've been reporting substantial income and not paying quarterly taxes and have not been assessed penalties, then you have simply been lucky...not right. There is no confusion about this on the part of the IRS or knowledgable tax authorities. The regulations are very clear, and as I...

You didn't say, but I assume that you are self employed. If you are, then you should send in something on your quarterly taxes in the event you show a profit at the end of the year. Even a minimal amount, like $500., will help. Otherwise you will be at risk of paying a penalty if you have...