Day Trading from the DR

[chuckuindy]

Within the past 3 months I have quit my real world job and became a day trader in the US stock market. I have to admit that this is not an occupation for the faint at heart. I have good days and bad days, but for now I am ahead of the game.

Like any other occupation I look at it as a job. I spend 3 – 4 hours at night researching what I will buy or sell for the next day, and then I watch my portfolio (in real time) from market open to market close.

My objective is that if I can remain successful at it I can trade form almost any where in the world including the DR, provided I have access to high speed internet.

My main objective is to use this as an income source rather than trying to increase my total net worth. If I can successfully create an income stream of $4,000 to $6,000 per month I should be able to create a comfortable lifestyle in the DR by using only risk capital.

I do however have some questions.
Would there be any tax consequences from the Dominican government?
How secure is internet data transfer in the DR?
Would it be possible to access my brokerage funds in the DR using only the ATM and Amex. Card provided by the brokerage firm?

Chuckuindy

[The Voice]

Originally Posted by chuckuindy

Within the past 3 months I have quit my real world job and became a day trader in the US stock market. I have to admit that this is not an occupation for the faint at heart. I have good days and bad days, but for now I am ahead of the game.

Like any other occupation I look at it as a job. I spend 3 – 4 hours at night researching what I will buy or sell for the next day, and then I watch my portfolio (in real time) from market open to market close.

My objective is that if I can remain successful at it I can trade form almost any where in the world including the DR, provided I have access to high speed internet.

My main objective is to use this as an income source rather than trying to increase my total net worth. If I can successfully create an income stream of $4,000 to $6,000 per month I should be able to create a comfortable lifestyle in the DR by using only risk capital.

I do however have some questions.
Would there be any tax consequences from the Dominican government?
How secure is internet data transfer in the DR?
Would it be possible to access my brokerage funds in the DR using only the ATM and Amex. Card provided by the brokerage firm?

Chuckuindy

You shouldn't have a problem. You can find High Speed Connections in many locations in DR. As far as taxes go, all you have to worry about is the IRS. Just have the funds deposited into your bank in the US. With $4 to $6,000 a month, you will live like a king in DR.

[Tamborista]

You MUST have access to a live broker and a Cell phone for those ever so rare days that the ummmm .......................power goes out on the DSL or Cable Modem and you have a position on!

Good Luck!

PS, it is kinda cool trading from Playa Vista or Rocky's.

[chuckuindy]

Originally Posted by Tamborista

You MUST have access to a live broker and a Cell phone for those ever so rare days that the ummmm .......................power goes out on the DSL or Cable Modem and you have a position on!

Good Luck!

PS, it is kinda cool trading from Playa Vista or Rocky's.

Thanks, I never considered that aspect. A loss of live quotes could cost some bucks.

Chuckuindy

[mondongo]

anyone who can make money day trading, especially if they have done it over several years, is tops in my book.

Tamborista and chuckuindy, without divulging your secrets, how much of your day trading knowledge can you share?

[Tamborista]

Mondongo:

What you would like to know?
Everything has it's price!

Feel free to PM me.

[chuckuindy]

Originally Posted by mondongo

anyone who can make money day trading, especially if they have done it over several years, is tops in my book.

Tamborista and chuckuindy, without divulging your secrets, how much of your day trading knowledge can you share?

Sent you a PM, hope it helps

Chuckuindy

[WebDev]

Originally Posted by chuckuindy

Would there be any tax consequences from the Dominican government?
How secure is internet data transfer in the DR?
Would it be possible to access my brokerage funds in the DR using only the ATM and Amex. Card provided by the brokerage firm?

Chuckuindy

If you are US citizen, you have to worry about Uncle Sam share.

Secure data transfer? It's how secure you setup your computers.

I know of one person in SD, with 4 desktops and 2 laptops, 3 phone lines and 2
cell phones one satellite phone. 2 different accounts ADSL connection with
Verizon, and a satellite Internet (download).

This person use to live in South American country, who should remain
nameless, but the infrastructure sucks there, so he move to SD about 5 years
ago and he keep on smiling ever since.

The apartment building where he lives has a generator and his setup is hook
up with a few good UPS, no inverters here.

In conclusion: It's possible to "Day trade" from DR if you are setup properly,
and I am sure they are more then example above.

Hey H.S., did I say to much?

Good luck to you, Chuck.

WebDev

[Conchman]

I would get my residency in the DR in order to avoid paying US income tax. Not sure if that would work but I would look into it. Or to establish a Cayman Island company and to do the trading as en employee of that company. I am sure there many ways that could save you a lot of money.

[HOWMAR]

Originally Posted by chuckuindy

Within the past 3 months I have quit my real world job and became a day trader in the US stock market. I have to admit that this is not an occupation for the faint at heart. I have good days and bad days, but for now I am ahead of the game.

Like any other occupation I look at it as a job. I spend 3 – 4 hours at night researching what I will buy or sell for the next day, and then I watch my portfolio (in real time) from market open to market close.

My objective is that if I can remain successful at it I can trade form almost any where in the world including the DR, provided I have access to high speed internet.

My main objective is to use this as an income source rather than trying to increase my total net worth. If I can successfully create an income stream of $4,000 to $6,000 per month I should be able to create a comfortable lifestyle in the DR by using only risk capital.

I do however have some questions.
Would there be any tax consequences from the Dominican government?
How secure is internet data transfer in the DR?
Would it be possible to access my brokerage funds in the DR using only the ATM and Amex. Card provided by the brokerage firm?

Chuckuindy

Easy to be sucessful in an up market. Then there is the downside.