It's important to learn how to make a profit by day trading, but a close second is learning how to keep that profit. Otherwise, you're doing all this work for the IRS.
If I had taken those profits then, I'd have seen killer short-term capital gains. That's when I knew I needed an accountant who knew the Internal Revenue Code like the back of his hand.
"Ross, have you considered moving to Puerto Rico?" I laughed, just as you probably are doing inside right now. "Uh, no, I have a family, and we're not really portable right now." But that was not always true for me, and it may not be true for you.
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