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Michael Mangiafico <Mmangiafico@xxxxxxxxxxx> wrote:
> This is an excellent post, but I have a question for both you and
> the group. One of the rules of trader status is frequency of
> trades and the other is duration.
And the other is consistency. "Frequent, regular, and continuous"
are the magic words that keep coming up.
Ted, if I could trouble you for another clarification: how picky are
they about the "regular and continuous" part? I suspect many
successful traders take a break to go recline on a beach in Bimini or
whatever, but the rest of us sometimes have gaps too.
For a variety of reasons, I have had some gaps in my trading record.
I traded about 2-5 times per day from 9/97 through about 3/98,
stopped for about 3 months, started again in 6/98 and traded until
11/98, then switched to trading an IRA account (about 10-20 trades
per month) until 3/99. Then I took a hiatus until now, and I expect
to return to regular trading (again, 10-20 trades per month) within
the next few weeks.
I declared Trader status for 1998. Are those holes in my activity
likely to cause a problem?
Thanks!
Gary
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