Norman Hallett from The Disciplined TradervIntensive Program: I'll say it straight out. If you're not running your trading AS A BUSINESS, you're leaving big money on the table...... and I mean trading-wise AND tax-wise.
My friend Jim Crimmins is the founder of TradersAccounting and upon my request, he's agreed to have his number one man, Mark Bertrand, present to us some RESEARCH INFORMATION. Here's how he describes his brief, but informative Webinar presentation tomorrow at 4:30 Eastern time...
http://tradingninja.com/
"Traders Accounting engaged an independent research firm to investigate the trends outlined in this study. In a report from the Wall Street Journal, Drew Niv, Chief Executive of FXCM stated: "If 15% of day traders are profitable, I'd be surprised."
"During this fact-filled presentation, based on market research, see the statistics on:
1. The Investors Landscape
2. Exposing the Markets
3. The Five Critical Mistakes Traders Make
4. The Business Front
5. The Five Steps to Success
For instance... for YEARS, I thought you could only write off $3,000. a year in losses and you had to carry over any remaining losses into next year. That's TRUE for the Individual Trader who files a personal return, but NOT TRUE for the trader who Incorporates their trading as a business. This is my understanding (I'm not an accountant).
http://tradingninja.com/
Contrarian trader, Greg Roy is a no-nonsense guy and believes we all need to face some hard truths about the stock market at how it really works. He sums up his views in the 5-Minute clip... Here are some of the specific observations Greg shared with me:
=> If you were 50 years old in 1964, you aged 17 years and turned 67 in 1981 and the Dow Jones was STILL sitting where it was almost two decades before.
=> If you were 50 years old in 1929, you had to wait until your 76th birthday before the market recovered - 26 years!
=> Look at Japan - it's 20 years later and their stock market is still below its 1989.
How old were you in 1998?
- Now you're 12 years older and the NASDAQ still hasn't recovered
- You're 12 years older and the S&P is still below what it was then.
- You're 11 years older than 1999 and the Dow is still BELOW where it was then.
So, Greg is asking us to be honest with ourselves: How long can you REALLY wait for traditional stock strategies to work for you? Forget all the theories about what's supposed to happen. Forget all the stories of other people making money... because it doesn't matter if x, y, z made Warren Buffet, George Soros, Peter Lynch or anybody else rich. Greg urges us to get our heads on straight when it comes to retirement building...
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The ONLY question that matters is this:
Is what YOU'RE doing making YOU richer?
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Your Personal results is the only thing that matters for YOUR investing. Take a good hard look at where we are in the markets right now and compare THAT to your financial goals. Are you current investment strategies getting it done fast enough to meet YOUR retirement goals and needs? 99% of investors can only answer "NO" to both of these questions. If your portfolio is NOT growing fast enough, I think what Greg has to say, may ring very true for you...
If you don't want to wait decades longer to multiply your wealth, then information on the above page (just click the link), could open a door for you. It's not too late. By the way... This is all content... there's nothing to buy. It's just a frank conversation about the stock market without the fluff...
http://tradingninja.com/
