Daytrading & Divorce.....

JSOP · Mar 29, 2018

jinxu said:
IMO. If the OP had to ask a question like this on an ET message board. And combined with the 95% rule. He is most likely not profitable. I would imagine paying a lawyer $100 is like throwing nickels and dime for some real legal advice for a real successful trader.

It is unlikely he just randomly stumbled onto here. Likely has been a lurker for some time. (Or is a regular and this is a throwaway account).

Secondly, a super successful trader would just go ahead and give the wife her 50%. He could always make it all back the next year. (Or next month if he was really any good)

I think the OP just wants to get some perspective and tips and pointers from traders who's in the similar situation as he is and might have gone through what he's about to go through.

He generated plenty of ET traffic though. LOL

nooby_mcnoob · Mar 30, 2018

jinxu said:
Secondly, a super successful trader would just go ahead and give the wife her 50%. He could always make it all back the next year. (Or next month if he was really any good)

Exactly. This is why I recommended to give it up. You'll have a better life. If you believe you can't make it back, then you won't give it up.

jinxu · Mar 30, 2018

nooby_mcnoob said:
Exactly. This is why I recommended to give it up. You'll have a better life. If you believe you can't make it back, then you won't give it up.

He's probably just "barely" profitable. Maybe something like 10% at best. If his wife was to take away half his trading account, then it would severely reduce his ability to make a living. I tend to assume everyone is part of the 95% until proven wrong. So this is my most optimistic viewpoint.

nooby_mcnoob · Mar 30, 2018

jinxu said:
He's probably just "barely" profitable. Maybe something like 10% at best. If his wife was to take away half his trading account, then it would severely reduce his ability to make a living. I tend to assume everyone is part of the 95% until proven wrong. So this is my most optimistic viewpoint.

And this is the rub: that's a legit argument which can't be made until you get in front of a judge which itself costs thousands of dollars. So either way you'll lose some portion of capital. The question whether capital is more important to you than time.

volpri · Mar 31, 2018

SimpleMeLike said:
nooby_mcnoob,

I am living life for my woman and my kids. Period. I do what they tell me to do to make them happy. Their happiness, is my happiness. When you reach that level thinking, you will see what I mean.

whoa dude...i may be ole fashioned but you mean to tell me the wife and kids are the boss in your home? So you just run around and do whatever they tell you to do? If a screaming kid wants ice cream at midnight you gonna jump up out of bed and serve him? In my house that youngin gonna get something else and it won’t be ice cream...thats for sure..

JSOP · Mar 31, 2018

jinxu said:
He's probably just "barely" profitable. Maybe something like 10% at best. If his wife was to take away half his trading account, then it would severely reduce his ability to make a living. I tend to assume everyone is part of the 95% until proven wrong. So this is my most optimistic viewpoint.

This is going to drive this already off-topic thread (according to @HobbyTrading) to be further off-topic but I don't think the success rate of trading is only 5%. That % is just too low otherwise the entire financial industry wouldn't exist because they would be in the 95% losing majority.

JSOP · Mar 31, 2018

volpri said:
whoa dude...i may be ole fashioned but you mean to tell me the wife and kids are the boss in your home? So you just run around and do whatever they tell you to do? If a screaming kid wants ice cream at midnight you gonna jump up out of bed and serve him? In my house that youngin gonna get something else and it won’t be ice cream...thats for sure..

If a kid is waking up at midnight wanting ice cream, he would be going to the hospital first, something is not right. LOL Another off-topic driving post.

Rationalize · Mar 31, 2018

nooby_mcnoob said:
Ah my area of expertise. The question you have to ask yourself is: are you principled or do you not care what happens so long as you get out?

If it is that you are principled and you don't want to give her anything for the principle of it, then you're going to be miserable and you'll still lose most of your money. If you don't care what happens so long as you get out: give her 60% (which is better than she'll ever get, ever - esp if she's working) with the contingency that if she does not accept you will lose 100% going to court and you will go all the way, with all the experts, etc. You also get her to agree that you owe her nothing going forward.

You also need to assess your stbx: does she want to "get you back" for anything, or is she happy to move on? If so, the above is likely to work.

With day trading, you can make as much or as little as you want. This matters. I bet you're going out on a year following a very good year aren't you?

If it goes to court because she or her lawyer are idiots, make it go really, really, really long. Set it up so that you need 100% of the capital to generate $100K/year. Do not agree to any intermediate agreement. That's how lawyers ensure a cash flow.

Make sure her lawyer understands that she doesn't have any money and you will spend 100% of your money on your own lawyer, and that her lawyer will get nothing. Of course, you should do this in a way that isn't confrontational. They can do the probability calculations in their heads very well. $20K now, or $0K later + time spent, no brainer and they move on to the next sucker(s). Something like: "you know, if this goes on for much longer, all of the money is going to $MYLAWYER."

Divorce and marriage are the biggest legal crock ever invented. Don't get married. Waste of time. I have 3 women I see regularly, all younger than 26, working on adding a 20 year old.

Edit: and to answer your actual question: yes, it will be considered a business, but you can definitely make a case for keeping the capital in the business as you need it to generate income. The case you can make to her is: you can get half the capital appreciation since marriage, or alimony for 5 years based on my trading income of $X.

Above, Or:

Transport your wealth you created, to a location where it remains yours.

Today, this is done as follows:

1. Buy bitcoin
2. Sell bitcoin futures
3. Put bitcoin on USB
4. Flee to a non-reciprocating jurisdiction
5. Unwind 1 & 2
6. Continue trading
7. Realize it's a tropical paradise, and your living costs are lower

It used to be that this was done by sticking diamonds up your aSS. Butt no longer. And with a tighter bid / aSSk spread. Yes. A practical use for bitcoin. Who would have thought, Bitcoin is the patriarchy.

Location options (non reciprocating jurisdictions that ignore western /overweight feminist law) are generally Thailand, Vietnam, or UAE countries - basically all countries where women do not get to vote.

If I were doing it again, this would be the plan.

8. Taunt her with Facebook photos.

nooby_mcnoob · Mar 31, 2018

Why would you sacrifice your own freedom of movement for a woman? That's the same as being married. You fucked up, you married someone you will divorce. Destroy her, destroy yourself, or move on. Too many people choose the destructive options. Including my ex-wife. Just move on beeyotch.

nooby_mcnoob · Mar 31, 2018

I know a doctor who was married for 40 years. After the last child graduated university and got employment, he packed a suitcase, left everything to his wife. Happiest fucker I know (of course, making $30K/month probably helps...) The wife had NO avenue or reason to chase him.