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Strategies & Market Trends : IRS, Tax related strategies--Traders -- Ignore unavailable to you. Want to Upgrade?

To: j g cordes who wrote (317)5/24/1998 8:27:00 PM
From: Street Walker  Read Replies (1) | Respond to of 1383
 
Colin could answer your question better.

...cause he's answered it many times <GGGGG>

Here's my try at it:
A trader is someone whose main income is derived from trading stocks.
A trader, trades, doesn't own stocks. Usually 100% cash at the
end of each day. A trader pays for real time data feeds, level II,
and spends the majority of time in this business. To clain trader status, you have to be able to prove that you are really a trader, and not just out to make money investing short term.

S.W.


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