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My guess is only IRS could provide reliable statistics by reporting how
many people that claim "trader" status reports income vs. losses. Reports
from brokerage houses (1099s) would not reflect "true" picture, because one
person may use several brokerage houses and one will report income, but
overall the person lost money that year.
If IRS would be "people friendly" it could publish such statistics without
harming individuals. They do report distribution of income, number of
milliners, etc.
One more wish toward perfect world. And why not?
Alex.
At 08:24 AM 7/18/99 +0100, T-Bondtrader wrote:
>There seem to be some silly statistics being bandied around (on other
>forums) showing the success of day traders being as little as one tenth of
>one percent (the of what is not alluded to!). While most of the
>propounders of such figures seem to be position traders or vendors of such
>systems or services, it would be useful to know of the reliability or
>otherwise of such statements. Does anyone know if there are any creditable
>figures, concerning day trading or indeed position trading of individuals -
>not professional houses, which will always be a mixture. I imagine it is
>probably impossible to garner any figures that mean much, but it would be
>interesting to know if there are any, at all.
>
>In hope rather than anticipation
>
>Bill Eykyn
>www.t-bondtrader.com
>
>
>
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