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Strategies & Market Trends : The Covered Calls for Dummies Thread -- Ignore unavailable to you. Want to Upgrade?

To: BDR who wrote (3182)	12/20/2001 11:29:16 PM
From: Dominick	Read Replies (1) \| Respond to of 5205

Dale: The difference is the SEC came out with specific number of trades to be a Pattern Day Trader. Most of the public could easily qualify for that due to online trading capabilities if they so chose. The IRS qualification, though very vague, would most likely be the most accurate of what a trader does. You have to separate yourself from the public. Having a legitimate business and credentials of an expert in your field goes a long way in establishing your job status. Having a series 7 qualifies you as an expert and separates you from the common investor. Dominick