another trick would be to also call yourself a portfolio managing company (and become one if you want). But then you can also expense EVERYTHING (house/car/gas/clothes etc.) because if its a personal business you could call everything related to sales and atleast for the first 5 years the government will let most startup companies work without any fear of audit. I'd recommend actually having some real income from managing if you're good at it, just get friends and family to give you some money.... even if its a little amount you could just call yourself a shitty salesman. But yeah all personal expenses could be written off, as well as paying minimal taxes with gains.
Henry here from Vancouver. I am looking for a good local prop firm and have already went through most of the posts on this thread. All I saw were two firms: Bright and Title. It looks like Bright charges more fees than Title ($10 vs. $0.25 per 1000 shares). Can anyone else provide me their recommendations on which firm to join based on reputation and business practices. I have a pretty good trading record, which I've posted at the link below (right column scroll down) http://pickyinvestor.blogspot.com/
Henry, Bo here from Vancouver why is your 2009 so bad, don't you day trade, you obviously don't, you should look into it, benefits are many unless you don't have time or nerves for it, ES can handle large orders too
I thought the IQ was 136...take another test recently? http://www.elitetrader.com/vb/showthread.php?s=&postid=2163676&highlight=136+IQ#post2163676
I day trade futures only, and I am a bit amazed at your bad 2009, this year so far was really good for day traders, regardless if you follow trend or do mean reversion anyway just a comment that you can do better, that's all
Back off, I am trying to make some friends that don't yet know I am psychotic see this is my angle, this is how it works I pretend to be all nice and NORMAL, and then when they do get that I am not normal they are too afraid to back out, and I got me some friends that way GET IT ??? of course some like you just adore me the way I am but don't adore me too much
Yes, day traders thrive when volatility is high. Unfortunately I haven't been that active in the day trading department since the new year.