Internet and computers now make trading so much easier we are lucky we are in the best generation to trade stocks because we have the best scanners and technology to be able to trade... take advantage of this awesome job and work hard!
Ahh, but read his final comments on this Bloomberg article: All my gambling friends bragged about their wins and never their losses. Perhaps that is why he lived in a one room apartment instead of a penthouse in Tokyo.
Is Daytrading Difficult or Impossible ? Geeesh...its a straight forward simple question. Yes its difficult for most and its impossible for most.
Only traders I've heard that's been audited are the ones that's competed in those international trading competitions, someone that got flagged by their government for some oddity on their taxes or someone that's been arrested that may/may not have anything to do with trading or someone as you stated arranging financing for personal/business use. Thus, not all audits are the same and they have different purposes...regardless...its still an audit. Yet, I would think a government audit would be the worst type of any audit. In contrast, I never heard of anyone "asking" to be audited unless you consider those celebrities that can't afford their child support payments and they ask for an "audit" (review) of their finances to get their support payments lowered.
Public firms are required to provide financials audited by a certified accounting firm according to GAAP rules. A private entity may need to provide the same if they are looking for funding or as in the prior example they want to prove performance to gain clients or investors.
Yeah, I know someone that wants to start a small fund that went to fundseeker. In fact, I think a few from ET did such. Not sure if they got the financing they were "seeking". I would put them in the category of "arranging financing". Thus, doesn't need to be from a bank...can be directly from investors too.