turn daytrading into a business ?

Discussion in 'Professional Trading' started by bat1, Feb 11, 2008.

  1. bat1


    has anyone done it? I'm retiring from the military
    next year and want to turn my daytrading into
    a business..

    Thanks for any advice

  2. You a lifer?

    You're able to daytrade while you're active duty??
  3. i can just picture him in full body armor with a m16 in the middle of baghdad, carrying a laptop daytrading via satellite uplink.

    that did be more hardcore than the cab daytrader lol
  4. JA_LDP


    yeah, then he's in the middle of a trade and his laptop dies from all the sand in it.

    OP: from what i've read here, lots of people trade through an LLC (that is, they are self employed traders).
  5. Hello Bat1,

    I am prior service USMC. Enlisted in 1989, then officer in 1997 (Mustang) 0311, 0331. Ooh rah!

    I take it you are in the 1st Battalion from your board name? What branch?

    I'm a retail broker, so can't really answer your question. However, wanted to thank you for your service! (the vets on here will answer your question, as they know theit stuff.)

    Carry on!

  6. One hasn't lived until they've experienced a sand storm in the flesh. I understand fully...

    Yes, LLC would be the more "common" way to go from what I've seen. I see it in my job too. Now and then, someone will get ticked at their broker, and I'll see the statement with LLC on the top. Most in my area clear through Schwabb.
  7. Keep it simple, buy and sell indexes and inverses and you buy the inverse on bernanke fed cut announcement rallies, and sell the inverses on the bernanke fed cut hangovers. Wash,rinse,repeat.
  8. You can say that again.

    There are a lot of details to consider, so I would suggest looking into a book to see what specifics would fit your needs...there are quite a few options for trading as a business and it's hard to give a genric answer.

    Glad you made it out okay. I think vets have a built in advantage when it comes to trading. Good trading to you. Be a hard charger and keep the discipline up and you'll be good to go.