Kanda
Thanks for the article... Talk about a ton of sarcastic put downs. Just once I would like to see a positive article and not talk about Day Traders as a bunch of uneducated gamblers.
I just love how the author ripped apart the guy that made $200,000 this year.
This year, he says, he is up almost $200,000. But that's the gross number, so subtract $38,000 in commissions paid to Datek and the online brokerage firms he trades through. Now subtract at least another $60,000 for taxes. And subtract his expenses: $300 a month for his PC Quote, which gives him Nasdaq Level II access over the phone line; $300 for his share of rent to turn this part of the apartment into a trading room; $180 a month for newspapers, cable, newsletters, phone. Barring a drastic change in his performance, he will net $85,000 from day trading this year.
It this person fried??? The guy made $162,000 U.S before taxes. Why even count the rent or newspaper/cable/phone.....he would have had a good number of these bills even if he didn't trade. It was like the author was going out of their way to make it sound like he wasn't making a good living.
Best Regards
KEITH |
