That means a top-bracket player owes a federal tax of 23% on winning trades.

FORBES: When the Markets Sleep

What they end up with is the average loss on their losing trades is not going to be much different than the average profit on their winning trades.

FORBES: Magazine Article

We have found that in the typical profile of a profitable options trading strategy, the average loss on losing trades tends to be about 35% and the average profit on winning trades is 70% to 75%.

FORBES: Options Guru Hates The Dow But Likes Casual Dining