Taxes depend on the type of trader you are and if

Taxes depend on the type of trader you are and if you do it as an investment or profession.  I do this for a living and there many tax benefits that come along with having your own company. I recently formed my own trading company (self-employed) and named it PGC Trading.  I can set aside up to 40k a year tax free for retirement.  A hell of a lot more than the standard $5500 in an IRA.  You also get taxed less once you are considered to be a pattern day trader and are self employed.