Definition Of A Professional Trader
Professional Trader Defined
I hear the term "Professional Trader" thrown around quite a bit. Pundits seem to enjoy pointing out the foibles of the retail trader while facing Wall Street thrice daily and bowing down to the brilliance and elegance of the professional trader.
According to the I.R.S. there is no true legal definition of a PT, so I turned to my dear friend the internet to see what the general consensus was. You might want to jot this down... (so you can burn it later)
My Google Search returned 383,000 results. In the interest of brevity I chose to share just a few...
"I'd say any institutional trader, as well as retail traders with an annual income at or exceeding U.S. $550,000 and/or net worth greater than U.S.$ 3 million."