Preferential brackets apply, with a zero rate band at low taxable income and higher bands above it, plus a net investment income surtax for higher earners. The exact thresholds are indexed annually.
Very little of an active trader's income qualifies. Day and swing trading produces short-term-capital-gain, and the main long-term exposure for most traders is a core investment book or company equity. section-1256 contracts are the exception, because the sixty-forty-tax-treatment gives part long-term character regardless of holding period.
Long-term losses offset long-term gains first, then short-term, with the netting rules driving the order on schedule-d.
General information for the United States, not tax advice. Rules change and depend on your circumstances; speak to a qualified tax professional.
Related: short-term-capital-gain, holding-period, sixty-forty-tax-treatment, schedule-d, qualified-dividend-holding-period