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December 20, 2004

The day traders of Times Square

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Posted by Dominic Basulto

Trigger-happer day traders are becoming more active, thanks to a rebounding stock market and an improving economy. It's not the "Joe Schmo trucker" who's trading these days, though, it's the "new breed of day trader": younger, hipper and more aware of the risks involved. One 30-year-old Yale graduate profiled in the story, in fact, claims that he earned $25,000 last month alone while trading for HLV (a small firm wedged into a 1-room office in Times Square). During the Internet boom, some day traders made as much as $30 million a year by rapidly moving in and out of new positions during the course of a day.

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