Making $1,300 a week Tax Free

Discussion in 'Taxes and Accounting' started by buzz, Jan 29, 2006.

  1. buzz


    For sale great Idea

    Making about £700 a week or $1,300 a week tax free if you based in the USA. Players within a game compete against each other, deploying their trading skills to attempt to maximise their virtual profits. Virtual financial instruments are "bought" and "sold" in accordance with the participants' interpretations of price movements in the Trader Games Price Feed. As a result of their buying/selling activities, with live real time prices, the participants will make a profit or loss on their virtual portfolio.

    I phone the company up asking why have it gone quite. They told me there was a big firm in the USA playing the games and their work was being affected dew to the employees playing the games all day lol. so the boss of the firm changed their fire wall and pulled the plug. since then its got quite. I ask tradergames do you advertise and they told my no. I ask why, they said we are in to a lot of things mostly horse betting. they told me they may be selling it, if anyone is interested. Well I im thinking of buying it.if the price is right.

    I am posting here to see if you think it is a good business plan, basically you play agist 4 other traders in a 2 hour game competition play is based on the movements in real-time of financial instrument prices, i.e. currencies', and indices' values and the changes to those values within the competition duration are based on the real-world markets with live trading platform who makes the most money in 2 hours wins the pot, But I think it would be better if you get 1st and 2nd price. You would put in $20.... 4 players = 80 pound pot. games start form $20 to $250 ...the 250 games you be playing for a 1,000 pot

    Let me know what you guys think.It could become something like party porker but trading the markets.
  2. gkishot


    I think fighting the market is stressful enough on people. Why would someone want to aggravate the pain by competeing against other people?
  3. buzz, contact me when you know a price. I may be interested
  4. Buy1Sell2


    2 posts since Sep 2004 and they both had horse racing in them. Are you logged into the right site?
  5. buzz


    The difference with tradegames over having a brokerage account is there is no margin to put up. Just put you credit card in and away to go..Lets say you want to play a $50 game. that is a pot of £200 so the most you can lose is $50 to win $200, also its Tax Free. You don't know who are you playing agist although there is a chat on there, where you can make comments if you wish. again a little like online poker but with this you are trading the market.
  6. buzz


    Hi arold

    I let you know how much they want. there is a lot one can do with this site. the guy who invented trader games have left the firms the ones who run it at this time, dont know what to do with it, they don't even advertise the site. I think is got something about it. im sure one of the big firms would buy it if they new about it, such as Ladbrokes and so on..
  7. I'm just throwing this out:

    But what are the barriers to entry? what keeps someone - or anyone - from just starting a website doing the same thing?

    Have you advertised or done anything to build the brand? Do you know of any comparables - any other companies of similiar types that have been purchased or sold? What are the cash flows?

    This seems like a great idea, very novel and interesting.

  8. Where did you get the idea that any gains are tax free for USA residents? Also, from a very brief read, it looks like losses from this are not deductible.
  9. gkishot


    It's very hard to make a fortune by competing againts other intelligent individuals. There is so little edge in that if any. I don't think that any serious trader/investor who is keen to make a living off the markets will fall for this idea. The financial markets are so much better instruments to allow different people with different trading styles & strategies to make a decent living off them.
  10. buzz


    You guys in the USA dont pay Tax on poker do you, Its the same with tradergames.and there is little to lay out. not like the margin one must pay for trading with a broker. Also it can be changed to 1st and 2nd even if you not very good at trading there is a 50% chance you win. I think its great for traders who are just starting out or have been in the game for only 2 years. or even if a trader has lost in the real market with his broker he can have a game with real money on tradergames but only risking a small amount. If you look at the site you can play the game that suites you. if you not avery good trader play the $20 games for a $80 pot, if you think you are a good trader play the $250 pound games for a $1000 pot,,remember you are playing the market with live prices on a simple buy and sell platform.
    #10     Jan 29, 2006