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Alexander:
The IRS trader status statistics (or information) would reveal
a lot more than what you suggest. It is also probably a true
barometer as to how much income an individual derives from trading profits
as opposed to income from trading related sources to include
newsletters, selling software, books and courses, conducting seminars,
commissions, etc. Not that those who do not have trader status don't make
money trading--just that they probably make more
from trading related income. Individuals who are the true breed
would want to take advantage of every right and benefit accorded
under that label.
Charles
-----Original Message-----
From: Alexander Levitin <alevitin@xxxxxxxx>
To: T-Bondtrader <t-bondtrader@xxxxxxxxxxxxx>; RealTraders Discussion
<realtraders@xxxxxxxxxxxx>
Date: Sunday, July 18, 1999 3:46 AM
Subject: Re: FUT: Stats on Day Traders
>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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