my friend lost 450grand last year and my other friend
lost 500g on walkallovervia wachovia.... im mainly on the sidelines... i learned alot of lessons from being a roulette wheel player... stocks you have an advantage you dont have to sell them til you want to... hard part is holding them through all types of weather...
Holding them until their is a definitive change in their position in their industry is probably the way to go. If you are successful than most likely you will be in a top income tax bracket. Since your short term gains are taxed at about 20% higher than your short term gains, in order for trading to make sense you must be able to regularly beat the markets by 20%. Otherwise you are just blowing smoke. I would wager that maybe one in 1000 retail traders can be the market by anywhere close to 20% on a regular basis.
If you are trading in an IRA, then one is employing a strategy that most aggresive money managers won't even partake in. Hell, even Cramer has his IRA in mutual funds, or so he says.