No, but I'm saying it could always get a lot more irrational...wait till the murder hornets are shown to carry the new strain of Corona...
I saw a quote a few days ago that said, "markets can stay irrational longer than you can stay solvent".
Nice. It takes a lot of 50%'s to get back my 90% but it's better than nothing. The reverse split also makes it hard to look at the numbers since I've been watching them for a couple of years. For reference, I made my last buy at $5.67 before the 12-1 reverse split. It has to get to about $70 before I'm even .
Any downfalls in the Robinhood fractional shares they just rolled out? I put $35 in VOO for shits and giggles.
Im still on Robinhood's waitlist but I anticipate no issues with it as I buy fractional shares all the time through another brokerage. Also, I guess you can DRIP your dividends checks now. Now you can buy based on dollar amount vice share amount. Its a great option to have. I might partial invest $1.28 in Amazon now for a yield of .00000000000000000000001. Muahahaha I brought BOEING last wednesday for $120 and sold yesterday for $135.40 Made a few $$$ I must say. I'm headed to Fat Burger now for supper.
Sell it and repurchase on the next big dip! Shit was $18 yesterday and dropping fast! My crystal ball says there will be another opportunity to buy it cheaper. Technically, I'm a long investor but have started to day trade a bit since the markets have been going up and down quite a bit. At some point, the stocks I'm really interested in will need to be purchased and held for the long haul. I have started a long position is some but waiting on others to hit the entry point I'm seeking.
Dumb newb question, but how are you taxed on something like that. When it all shakes out what is your true cost of trading, and how much do you actually "net" from short gains like that?
Obviously taxes are a complicated subject, but a day trader is mostly taxed the same as you are at your day job.
Thanks. I figured it was a pretty complicated answer with many variables. Obviously different for us Canucks, than you guys too. I just know that the tax man always gets his, so there has to be a point at which all the work and time spent trading is for naught if you have to give most of it back, especially with brokerage fees etc.
You can mostly trade without fees now, which is good. My experience is that day traders don't make much money. I've spent the last few years researching and doing some trading. I also signed up with Wanderer Financial and traded with them for a year. I would have made more if I just put my money in a DOW index fund for the year. I felt like I learned a lot, so that part was worth it.
I have started my long positions in Anheuser-Busch (BUD), Carnival Cruise Line, Marathon Oil Corporation, and Discover Financial Services since I was able to buy them cheap.
Gains depends on how much profit you made minus taxes and fees. Obvious that depends on what you brought, and what it cost, and how much it went up. I'm working from home right now so its no biggie to watch and track the markets. Its actually kinda fun if you like gambling. Basically, on average (depending on what you make) married folks will get charged 15% for long term capital gains (charged as regular income on your taxes) or 22% to 24% taxes for short gain (year or less buy and sell). Anything you buy and sell under a year is considered short term capital gains. https://www.investopedia.com/articl...gterm-vs-shortterm-capital-gain-tax-rates.asp I use Robinhood, which is free to trade. So to be safe, just deduct 25% from your profits to give to the tax man. I turn around and buy more stocks with my profits. I keep doing this as much as possible until the markets stabilizes in months or years... Who knows.??? Money is money.... The next stock I plan on "Buying and Selling" will be ULTA and ANTM, but ULTA need to drop another $25 and ANTM $50.
I would tend to agree but this market is nothing noone has ever seen and day trading or shorting stocks is very lucrative at this time. ACB was $5.66 on 5/14 and opened today 5/19 at $18.99. Do the math if you brought 250 shares. Your Profit would be close to 2K less taxes. Not bad for a 4 day market swing. I was just looking at ACB last week. Damn I missed out. This is the shit Im trying to capitalize on. I'm not into weed stocks for the long term because I don't understand the industry but I will pump and dump it if the right opportunity presents itself.
Better sell!!! No way ACB is worth $15 a share. Its down to $15.16 (down -11%) What a crazy market. It will be $9 on friday.