Where does everyone live/trade and how old.

Quote from bastiat8:

I am leaving the U.S. for health, family, and personal reasons...

Not too long ago, I too pondered about moving to Austin, TX :)… I visited Austin recently, and it is a very nice place full of diverse and very friendly people. IMO, Austin is a great “home base”: C.O.L. is relatively low, and the climate is quite nice unless it’s summer. So if you plan or can afford to travel quite a bit, it seems like a practical location.

Plus, IMO unless you are required to be physically present in the D.C. area for a job or something else, this place is not all that great (too many bureaucrats, lobbyists, and lawyers, thriving of off $$$ obtained through coercing honest and hard-working people :) )... Not too mention that the C.O.L. is quite high here, comparable to most BIG cities...

I am also looking into Bahamas, but will have to get in touch with a good accountant who can sort out the taxes issue… There is no income tax in Bahamas, but as long as you are a U.S. citizen you are still responsible to Uncle Sam at least for the federal tax. As one friend pointed out once, “did you ever notice that taxes and theft both start with a letter ‘T’ ? “ :) However, I did come across a piece of info that mentions that up to $80K of earned income abroad can be excluded from taxes… The question is: if you trade abroad U.S. markets, is that considered earned income from abroad or from U.S.???

Fellow ETs my apologies for going off the original topic, just so many relevant question pop up when we start talking about trading from abroad…
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It’s abroad but you need to be out of the country a full year. There are also visiting rules on how much time you can spend in the US. You might be responsible for taxes in the other country though. Some people open dummy corporations in a third party country and use that to pay there bills. They then don’t have to worry about making over 80k. I don’t know the exact details because I don’t live aboard or make a ton of money to worry about hiding it. What I do understand is how rich people don’t pay taxes because of dummy corporations sometimes. Its ridiculous and I am sure that’s why you never really know now much money the Rockefellers or the Kennedy’s have. Why do you think a guy fights so hard to get a 150k job in Washington DC now?
 
After reading thousands of posts here I was under the impression that 90% of the people here were early twenties or younger and it turns out about half are over 40. Quite a surprise.
 
Chicago, born, raised, schooled, within the city not the burbs. The burbs are boring...:eek:

Been trading on and off for 20 years, started in stocks, did good. Then switched to commodities (the whole nine yards), then just stuck to the Chicago commodity mkts because the NY mkts were slow to send back fill reports. Then Leo Melamed changed the financial world forever when the MERC came up with currencies futures, traded those longer term as currencies are much more macro tradable. Then did US Bonds at the CBOT, that switched me to becoming a daytrader. When the SP came it was like a new baby, first did that on the phone $500 a pop, then when ES came along, i bought a computer. Thought a computer was like a TV, plug it in and just rock-on.....HA So i was also self taught in that as well as trading. It has been fun. That was in 1999, now i am a computer whiz....YA RIGHT!!!!!

Plan on doing this forever, Why not?......
But the truth be known, i would absolutely feel good to teach it all to some young person, that is an ego trip, not the money....:D

O, Yes, my hobby, to see any kids no matter where, whose, what color, origin etc to be playing and/or just laughing, is there any better joy in life? I always can smile and feel good to hear a child, be it laughing or one of those screams of joy from a happy child. Animals, i love animals, they are so loyal and adorable. Be a couple days late coming home and the dog will jump and and down to see you. What would the wife do?....Just funning...
 
Quote from Nana Trader:

You call these inconvenient, how about rat race
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no doubt you are right there! the rat race here is no where near what it is in the states...and that i dont miss at all.

But form a trading perspective, unreliable technology or service providers can cost you a bundle if you get stuck in a trade.

There are always poitives and negatives when living abroad. Dont get me wrong...I LOVE living in tropical paradise. Check out the parrots that come roost on my office window!!

but if you remember one thing....remember this.

"you make your OWN paradise". location won't do it alone.
 

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Quote from dac8555:

no doubt you are right there! the rat race here is no where near what it is in the states...and that i don't miss at all.
But form a trading perspective, unreliable technology or service providers can cost you a bundle if you get stuck in a trade.

I don't scarify good living for better income, good living
is first priority, making more money is the second priority.

99% of losing trader lose money due to bad strategy, 1%
might be cause of internet problems. I think one should
consider these several choices:

-Build non-scalping trading style, there is no point living
in a paradise and being glued to PC.

-Play options where your maximum risk is limited

-Place hard stop type which is native to exchange

-Have another brokerage acct and ISP provider as backup,
and may be dialup line and phone handy incase of disaster

I don't see why internet connection in any way should have
any interference with my life

There are always poitives and negatives when living abroad. don't get me wrong...I LOVE living in tropical paradise. Check out the parrots that come roost on my office window!!]

but if you remember one thing....remember this.
"you make your OWN paradise". location won't do it alone.

I know what you mean, to lot of guys Places like Newyork, London,....is paradise :confused:
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My understanding is that the Caribbean is quite well connected. So with some basic planning and preparation for possible contingencies, I don't see why day trading from "Paradise" should be all that risky as far as tech issues go...

Cable broadband as primary, DSL as a backup, a cell and a land-line phone to call the trading desk in case of an emergency...

One other possible problem: "electricity outages” so a backup power source is a wise idea, but most of you who are professional day-traders already have this in your home...

Once I setup my operations in the DR and begin trading I will post a complete description of my personal experience...


"The Americas Region Caribbean Optical - Ring System ('ARCOS') is an undersea fiber optic - cable system that was developed by New World Network Ltd. ('New World'). Together with a group of leading telecommunication companies, New World contracted for the construction of ARCOS to provide the most technically advanced communications network in the Caribbean region connecting U.S., Bahamas, Turks & Caicos, Dominican Republic, Puerto Rico, Curaçao, Venezuela, Colombia, Panama, Costa Rica, Nicaragua, Honduras, Guatemala, Belize and Mexico with service already underway."

<http://www.nwncable.com/page.asp?c=3&s=0&l=1>
 
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