I thought I remembered reading here that the "average" daytrader makes a couple trades per day (1-3 round trips). But I just read over on Swift Trade's website that their traders make an average of 250 trades per day! That's like 1 every two minutes. Wouldn't that make taxes an absolute nightmare? Is there anyone that actually trades that much?
swifties dont pay taxes one each trade....they get a check at the end of the month that totals their earnings into a lump sum which they can then report to the government....and if you go to the trader pnl thread you will see that some trade as high as 1000 trades per day......i personally do 250-350 a day
you better learn 1 line accounting if you're a retail trader. just summarzie your total trading on 1 line. many people on here prop and get a k-1 so it matters little wether they trade 500 times or 5 million
you can't report prop trading as capital gains so taxes aren't complicated... 250 trades a day is for chumps... a slow day is like 2000 trades..... mnx
manual. I break up everything into small bits... scale in scale out, test with 100 lots everywhere... I'm suprised I haven't developed carpal tunnel syndrome..... mnx
man i thought i had the world record. in 2002 i traded 16000 times in one week and averaged about 1700 trades a day for the whole year. i was physically and mentally wornout at year end. so you're making 350 trades an hr? thats 6 trades a minute. when i did it the maket was gyrating an avg of 15 emini pts a day and once a week would be down 30 emini pts. now the market barely moves. how do you not get churned to death trading that much?
I think 16000 is pretty close to my busiest weeks... although I think I've had some days close to 5000 trades. Time will only tell if I can average that high for a whole year. I don't think I averaged that high last year, but the last several months have been busy. and yes, it is exhasuting executing that many trades a day.... mnx