Day Trading from the DR

chuckuindy

Bronze
Mar 8, 2004
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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

New member
Nov 29, 2005
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chuckuindy said:
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

hasta la tambora
Apr 4, 2005
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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.
 
Last edited:

chuckuindy

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Mar 8, 2004
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Thanks

Tamborista said:
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

Bronze
Jan 1, 2002
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wow, i am very impressed....

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

hasta la tambora
Apr 4, 2005
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Mondongo:

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

Feel free to PM me.
 

chuckuindy

Bronze
Mar 8, 2004
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mondongo said:
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

New member
Jan 1, 2002
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samana.net
Day trading from DR

chuckuindy said:
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

Silver
Jul 3, 2002
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www.oceanworld.net
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

Silver
Jan 28, 2004
2,624
2
0
chuckuindy said:
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.
 

Tamborista

hasta la tambora
Apr 4, 2005
11,747
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Trade Futures with a Max Cap gains of 28% and get a good accountant to expense most of your infrastructure!
 

Tamborista

hasta la tambora
Apr 4, 2005
11,747
1,343
113
HOWMAR said:
Easy to be sucessful in an up market. Then there is the downside.

Oh how true!
We will see if our friend is still "Trading from Paradise" in 6 months.
 

NALs

Economist by Profession
Jan 20, 2003
13,372
3,150
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WebDev said:
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
We do have the best telecommunications sector in all of Latin America.

On par with those of the developed countries.

Any one who gets their "frills" from techonology will love this place.

-NAL
 

chuckuindy

Bronze
Mar 8, 2004
1,372
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HOWMAR said:
Easy to be sucessful in an up market. Then there is the downside.

Being a swing trader ups and downs have very little affect on my trading. BTW, think that Latin America is all that poor? My best investment of the year is my Fidelity Latin America Mutual Fund, up over 30%. At that rate it is better than loaning my money out in La Romana.

Chuckuindy
 

Larry

Gold
Mar 22, 2002
3,513
2
0
Good luck Chuck. If you are fairly new at this, I recommend reading a book on point and figure charting. And please use stop limit orders.

Larry
 

Tamborista

hasta la tambora
Apr 4, 2005
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Chuck,.......Best of luck "Swing" oh I did I mean "Day" trading!

"Reminiscences of a Stock Operator" Edwin Lefevre is a must read for the beach in DR!

"Getting Started in Technical Analysis" by Jack Schwager is still my favorite reference on TA, (not T and A)
 

Larry

Gold
Mar 22, 2002
3,513
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Its all about the charts man...........

Come to think of it Chuck, a guy who used to post on here by the name of "sjh" really knows his chit when it comes to stock charts. Buying and selling purely based on a stocks chart is a much easier than digesting company news, etc. and making decisions based on information after is becomes made public. Send him a pm...

Larry
 

Tamborista

hasta la tambora
Apr 4, 2005
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Sitting in front of 6 monitors smiling!
MACD,RSI, LR Chan., SEQ, COMB, BBands, and of course DR1.