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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
>
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