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Re: looking for retail day traders



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By the rquirements given, successful documented track record etc., the 
typical trader that meets those requirements doesn't need the capital. They 
have, by definition, been successful enough to have built their account. Most 
stocks that are the best for daytrading aren't liquid enough to move more 
than 2 to 5 thousand shares at a time anyway. A Series 7 is not only a pain 
to get, but it can be a detriment in a lot of situations because of the rules 
you have to follow. Trader tax status can be declared by most daytraders 
anyway, and as someone pointed out, is a disadvantage if you keep any long 
term stuff. The ability to claim losses is moot, because we're talking about 
successful daytraders.


In a message dated 7/22/01 10:13:56 PM Pacific Daylight Time, Sethw2@xxxxxxx 
writes:

> It is nice to see someone finally post a positive response to what I have 
>  been commenting on. I have received more positive responses than negative 
>  ones, but it is funny that only the people that want to be critical feel 
the 
> 
>  need to cc the list with their responses EVERY time.
>  
>  Good luck trading,
>  
>  Seth
>