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Strategies & Market Trends : DAYTRADING Fundamentals
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To: Ken Adams who wrote (3624)9/6/1999 9:21:00 PM
From: Eric P  Read Replies (1) of 18137
 
How do you go about paying yourself? I mean, do you set up with the brokerage to have them send you a check once a month (week)?

Ken:

I like to 'pay myself' by removing money from one of my mutual funds. Although profitable, my mutual fund returns pale in comparison to my daytrading returns. I don't like to even touch the assets of my daytrading account, except to pay for the taxes at year end. It's a similar strategy to the often quoted "Cut your losses short and let your profits run." The only exception is that I am doing it with an account, and not a specific security.

Good luck,
-Eric
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