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To: - who wrote (22053)	6/17/1999 1:26:00 AM
From: Yamakita	Read Replies (1) \| Respond to of 27307

Today we have " I'm not prone to exageration (sic)...." and yesterday we had "The thing about T.A. is, it essentially TELLS THE FUTURE." Draw your own conclusions. I'm still waiting for the name of ONE trader who has beaten the S&P over 20-year period. How about a 10-year period?

To: - who wrote (22053)	6/17/1999 1:33:00 AM
From: Yamakita	Read Replies (3) \| Respond to of 27307

"I have not had a trading year below 500% pre-tax in three years." Let's modestly assume that Mr. Palo Alto Trader started with a reasonable $50,000 in the beginning of his trader career three years ago. (If he started trading before three years ago, that will only magnify this example)500% per year for three years on $50,000 is: Year 0: $50,000 Year 1: $300,000 Year 2: $1,800,000 Year 3: $10,800,000 Actually the figures should be much higher, since PAT has indicated that 500% is the MINIMUM has accrued, meaning that every year above is low-balled. But is that about what you're worth PAT?

To: - who wrote (22053)	6/17/1999 1:41:00 AM
From: Randy Ellingson	Read Replies (1) \| Respond to of 27307

Steve- Thanks for the thorough reply. You seem to be an exception; I suspect that most (in the literal sense) do relatively poorly to downright terribly at trading. I could be wrong, and hope I am for those who cannot afford poor performance. It's certainly not for me (I have a job ;-), and I would still never recommend that approach to people I know. My belief is that while looking at historical behavior is valuable, it's not nearly as valuable as looking ahead (which is definitely more difficult, and much less exact). BTW, what, roughly, is the tax hit on a 500% (6x the starting money, correct?) year for a trader? It's just the max tax bracket, right? Randy