My wife is at a company that has a 401k plan. We fully funded our IRA's last year and plan to again this year, so we'll have $10k socked away by year's end. Here's the plan for 2011: I'm going to open a forex account funded with the $10k and another forex account with $10k of my IRA. On Jan 2, I'm going to make equal and opposite bets with the full amount in both accounts and hold until one busts and the other doubles. Either the IRA goes to $20k and my street account goes to $0, or the IRA goes to $0 and my street account goes to $20k. If the IRA doubles, then I realize that gain tax free and I can write off the $10k loss in my street account against 2011 earnings. If the street account doubles, then we up the amount my wife is contributing to her 401k by $10k, and make up for the loss of take home pay with the extra $10k in the street account. The $10k trading gain is taxed at a lower cap gains. How will this blow up and land me in Club Fed?