Why do people trade ?

Discussion in 'Psychology' started by Kicking, Apr 5, 2009.

  1. Why do you guys even trade ? If you are a US citizen you pay 35%taxes on stocks or a blend of long term and short term rate for futures, with the odds of making money against you to begin with , why waste your time ?

    I trade because I don't pay taxes , if I had to pay 35% , pff I would just stop . Not worth the effort and time.
  2. me2


    why work if you pay taxes at %40. why wake up if your just going to go back to sleep?

    you my friend, iz an ahole
  3. A job is different, you do your job and at the end of the day you are paid. Doesn't work like this in our line of work as you know.

    Now I say if you make money effortlessly and lots of it and reasonably expect it to continue for some time then great , but we suspect there may be only a few dozen people like that on here.

    No my question is more : what draws so many americans to trading since they pay such high taxes ? And isn' the short term capital gain tax totally UNAMERICAN ?
  4. I trade because i live in UK so its also tax free for me..
    And its an easy way to make a living until i get the job that i want. :)

    I dont get why anyone would want to pay tax on their trading income,
    just to get smaller spreads than us. :cool:
  5. Lucrum


    Probably, but then our tax system and tax rates are not determined by true Americans. They are determined by career politicians.
  6. I always shake my head when I read your post

    you are a fool and will stay a fool

    unless you don't, but I am betting against you
  7. Ok mate, i will go back to 'foolishly being tax-exempt',
    why you can go back to aying 40% tax and be fool-free!! :D :cool: :p
  8. Not many things in life give you a shot based on your abilities alone (this may be oversimplified a bit). If you have a shot, however small, at making 6 figures and above, 35% is worth it.
  9. There are several traders who made over $300,000,000 last year... do you think they're whining about taxes?

    One good year in this business and you can call it a career and retire if you wanted to -- or you can lose your entire life savings -- it's all up to the individual. Darwinism and Capitalism combined in all their beautiful glory!

    G-D bless those who gave their lives to provide and protect the freedoms and liberties we still enjoy.
  10. Eight


    We trade because WIN stands for Work Is Nonprofit
    #10     Apr 5, 2009