I agree. I started following that 10 to 1 rule when I opened the Questrade account. I have been profitable ever since. 3 to 1 is available in my margin account for stock trading, but I rarely go above 1.7 to 1.
It was a jest. You have critics all over this forum who say nasty things but you lash out over a jest. Also, I think I've mentioned you all of twice in a joking way.. Learn who your opponents are before trying to take the high road over people. -- Not like I was asking anything of you in the first place, it was the other joker that made such a absolutist statement I was prodding.
Yeah, so in context you'd see I was prodding the guy claiming to pump out $100k in net profit per hour at will. Even you have to see the absurdity of such a statement. Instead you just "saw red" over a jest I made at your expense and lashed back. Nice.
100k profit in one hour is a thing that I cannot imagine. It requires more than a bog heart to set this target no matter how much money you have because you will be at risk of losing huge money also.
One other thing is that Forex can be treated as section 1256 or 988. If you are profitable and you make 100k in stocks (short term) and 100k in forex, you'll pay less tax on the forex by opting for section 1256. On the other hand if you lose in forex, then you can treat it as section 988 and deduct the entire loss from your income as opposed to being limited to $3,000. There is a forbes article on this out there somewhere.
You may be incorrect. i didn't read the thread at all. All I saw was my name mentioned (why bother to mention me?) and the number 100K. Now as a follow up, my comment is: To make 1.7 in a day there is a money velocity occurring in taking profits. there were 31 partial fills and about 200k was left on the table. In terms of execution of partial fills, it probably looks like the rate is over 100k an hour. For some reson the thread continued and added a rate after I posted. Who cares? the fact that doing 100k an hour was already mentioned doesn't matter at all. ET is kinda a dumb place. My name is used all over the place by the dumber people. Why would anyone every trade Forex? LOL ....
Another difference is that with stocks you have to track every single transaction and report it on Schedule D ( and many D-1s most likely ). Then you have to deal with wash sale rules, and other nonsense. Which makes for a huge accounting hassle, especially for day traders. With FX, you report the whole thing as a currency transaction ( schedule 988 or 1256 ), and you are done.
For me stock trading is not feasible and I do not know much about it so it is forex trading that is feasible and easy for me and I make a good money in forex.