Trading is extremely rewarding, but do you really think its forever

who cares if the markets we trade today as we know it close. They'll open up somewhere in some other country.

Humans have a need for uncertainty. It makes life not so boring.
 
Quote from traderpro:

The Wash-Rule is one way they could stop the day trader. I doubt it but you never know
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wash rule is not necessary to follow for traders who file sch Cs.
 
wrong as we have more misinformation on trader taxes. the wash rule doesn't apply to mark to market traders. a mark to market trader files under form 4797 and is designated as 475 c by the irs. what will stop day traders is when we enter a long grinding bear market were 80% of the public leaves the market. 2000-2002 was nothing as the public never capitulated.
 
Quote from john12:

wrong as we have more misinformation on trader taxes. the wash rule doesn't apply to mark to market traders. a mark to market trader files under form 4797 and is designated as 475 c by the irs. what will stop day traders is when we enter a long grinding bear market were 80% of the public leaves the market. 2000-2002 was nothing as the public never capitulated.
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I think this was a good post. I also realized why ignore feature was built into this web site.
 
Genije

I think a wage slave such as myself will have to clear it up for these folks.

Fellas,

There is investing, there is trading, and there is extracting. Lately we wage slaves have been experiencing more of the extracting effects of your endeavors and less of the investing part. To be fair, you guys are a blip compared to the Big Banks, but it's the same game you all play.

It's been going on for some time now. Personally, I think it was the end of Bretton Woods and the beginning of cheap money that started it. But what would I know?

You guys are smart, but do you really think this life of tapping keys could be that lucrative ad infinitum? We all feel smart when we make a lot of money - unfortunatley for you Genije, seems like you're too well grounded and can't fool yourself. You gotta dumb yourself down a little.

Anyone hear of "The Tragedy of the Commons?" It can apply to many other things - such as "consumers," "borrowers" and "small investors" as the resource in question. Systems both political and economic can only extract so much from them.

I think we are headed for a world of pain this year. Hopefully we learn a lot of lessons in the process and don't go the other extreme that Genije fears.

Cheers
 
Quote from Genije:

Gentlemen, I propose a ludicrous notion. I propose that Stock Market which is very dear to me and dear to my ex wife, will ultimately be closed.

But first let me establish my credibility by saying that I follow trend that is my edge, now those of you who matter know that I am real thing. Let us continue.

Stock Market will be closed, there won't be buying and selling of shares of anything. Let me repeat in different tone, it is not a matter of IF IT WILL CLOSE, its a question of when. Surely you don't believe that this way of living will last forever. Now that I forced you guys to use your head, let me ask you a question.

Should a trader be worried that Market will disappear or change to the point where day trading won't be doable. Considering that change now takes 10 years not 100 years.

Pls keep insults to yourself since I probably made more money than you :)

Geez I just realized something, if I don't have the answer, no one else does either, but its too late to erase, let the question stand :confused:
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Hallucinating on cactus juices already? Good Lord, I say a prayer for your ass.
 
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