Quote:
Originally Posted by T5viggen
Thinking about the same thing with the guy who turned 200k into 35mil. You don't do that by going long, you do that day trading. So most if not all of those gains are short term. He's looking at a 12.5-13 mil tax bill next season. Ouch! But still I'd take a 20 mil year after taxes ANY time.
My latest was accruing 100k shares of NAK at an average of $0.75/share over the last few months. Closed Friday at $1.30/share and still waiting on 2 more milestones the company needs.
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80% of people that day trade with $200k will turn $200k into $120k or $90k or $150k.
19.999% will turn $200k into $50k or $205k or $213k.
.0001% will turn $200k into $30M.
The probability of losing money overall day trading goes up the longer you engage in day trading. Makes sense.
Edit: Numbers were pulled out of my ass but the principle is true.