If I started day trading right around the 1st of July 2006, which gave me only about six months of trading experience. During that six month time period I made about 400 buys and sells. I ended up with a net loss of about $6,000, in trading about $2.3 million in equities. However, so far in 2007 I'm showing a small profit. Is it worth the time and energy to file with the IRS under the "Day Trader" status for the 2006 tax year? Or would it be better to wait until the 2007 tax year and file as a "Day Trader"? And, would it be wise for me to request the MTM exemption for the 2007 tax year? I plan on day trading full-time for the rest of 2007.