Okay, I won’t nitpick and will accept your tangible description of stocks. For you stock trading is a business. What about a futures contract? Do you think the same?
Hello taowave, Once again, why is it the dumbest post ever? Why is everything another trader doing outside of your understanding dumb and meaningless? Show what is smart? You got all the answers, let me see it. Let me see it. Ok, I am dumb trader, and I am dumb and I am stupid. Ok so show me a Smart ES Trader. Show me a Trader. Let me see him or her. Show me what smart looks like, since you got all the answers, and everybody dumb and going down the wrong path in trading. Until you do this, I will follow what I know is a SMART, and that is 4 things that I know is NOT a lie. 1. Buy Button 2. Sell Button 3. ES Price on a chart in real time 4. My PnL Everything else unless proven to me other wise is a Lie.
Why not? How does the CME stay in business? As a retail trader you are attemping to do the same thing. Not much different from a second hand store owner.
The service is the generation of capital gains profits and/or losses. Different trading vehicles/products have specific advantages and disadvantages within the US IRS tax code regarding the taxation of capital gains/losses. Perhaps it should be called taxation optimization since capital gains in general have advantage versus ordinary income. Clients can be individuals and entities, including self-only, and are subject to state and federal laws and regulations that may be applicable for a specific type or class of client and specific vehicles/products. "Trading" IS recognized as a business, with specific requirements to qualify as such. Some requirements are specifically noted in the IRS tax code, and there are still other qualifications that are derived through IRS case law.
Wow, all these years I had no idea I was attempting to do the same thing as the CME. Seriously, I was asking you about futures contracts and if you see them as you do stocks, to sell like used dresses in a second hand store. Since you answered perfectly, I don’t think anything worthwhile will come from further discussion. I concede that you see yourself as a businessperson. I’m just a gamer in stock index futures.
Your asking how how to recover from a large drawdown and have stated you are in the red.. It's DUMB because I worked at IB's, a 20 bill hedge fund, as,well as making markets on the exchange floors and have a rarely if ever met someone with your belief system that didn't fail... You are setting yourself up for failure..
Please don’t bring the tax code into the discussion. I am a tax lawyer by profession: JD BUSL, LLM in taxation NYU. Tax definitions are for taxes.