jnafach
74 posts
msg #81887
- Ignore jnafach |
10/27/2009 8:11:50 PM
does any one have simple filter that recognize very limited number of stock that can but and exit and get around 20-25% year with minimal drawback, I had lost quarter mill and I ready to quit , th eproblem is IRS allow you to deduct 3000 a year, it would take 80 years to do that
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karennma
8,057 posts
msg #81889
- Ignore karennma |
10/27/2009 8:30:48 PM
jnafach:
*** WELCOME TO THE CLUB! ***
Painful isn't it?
I've been "writing off" $3,000/yr. for the last 9 years.
And, I'll be doing so 'til I go to my grave.
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crunkle
54 posts
msg #81894
- Ignore crunkle |
10/27/2009 9:00:38 PM
jnafach
Trade management is infinitely more important than stock selection. Theoretically, you can throw darts at the stock listings. Cut your losers - manage your winners. The "average" professional money manager would sacrifice his mother for 20 - 25% a year. I'm pretty sure Warren Buffet is below that. Bill Miller at Legg Mason beat the S & P 500 for something like 10 straight years. Never came close to 25% annually (year-after-year). Not saying it can't be done but re-read the first sentence
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karennma
8,057 posts
msg #81902
- Ignore karennma |
10/27/2009 9:32:29 PM
jnafach:
Easiest thing to do is just buy gold or silver bars.
Keep 'em under your mattess for a year.
I think you'll double your money.
JMHO.
:>)
***Mark this post***
GLD -$1,108
SLV - $16.34
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trendscanner
265 posts
msg #81907
- Ignore trendscanner |
10/27/2009 10:22:52 PM
jnafach, FWIW, I heard an interesting interview on the radio last weekend with Warren Buffett. He compared his investing style to a baseball player who waits for just the right pitch and commented that if you swing at every pitch or too many pitches, you're likely to be swinging at quite a few poor ones. His comments made a lot of sense to me and reinforced my goals of trying to find a trading/investing style that provides for good returns without having to trade every day or even every week.
In an interview of his I found on-line from a few years ago, he expressed the same ideas as follows:
"I will only swing at pitches that I really like. If you do it 10 times in your life, you’ll be rich. You should approach investing like you have a punch card with 20 punch-outs, one for each trade in your life. I think people would be better off if they only had 10 opportunities to buy stocks throughout their lifetime. You know what would happen? They would make sure that each buy was a good one. They would do lots and lots of research before they made the buy. You don’t have to have many 4X growth opportunities to get rich. You don’t need to do too much, but the environment makes you feel like you need to do something all the time."
I'm not suggesting anyone go to the extreme of only buying 10 stock in a lifetime.But waiting for the right pitch can certainly be as good or better a way to make money as trading every day.
good luck to you in your trading and investing
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machismo
115 posts
msg #81916
- Ignore machismo
modified |
10/28/2009 1:35:48 AM
I think getting a trader status with IRS can help with tax deduction of more than $3000 with Mark to Market accounting, something I think worth looking into.
Click Me
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karennma
8,057 posts
msg #82590
- Ignore karennma |
11/6/2009 12:20:41 PM
Jnafach:
I wasn't kidding about the gold and silver.
While searching for earnings plays, I found these 2 canadian mining stocks.
Just buy and hold ... no trading necessary.
SVM.TO
QUA.TO
(check out the mother of all mining stocks ... VEN.TO)
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Cacher
121 posts
msg #82601
- Ignore Cacher |
11/6/2009 3:55:25 PM
There is another way to declare unlimited losses on your tax return... perfectly legal too. If you declare your trading as a business, you can actually write off every single penny, with NO LIMITS ON YOUR LOSSES !!! You can't do it with past losses, as you need to be trading as a business when the losses occur. I have literature on this, and I can provide more info if anyone is interested. ... but it may take me a couple days to dig it up.
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jnafach
74 posts
msg #82659
- Ignore jnafach |
11/8/2009 10:11:35 PM
Thank you all guys, I looked at the tarde to market and seems I can't do it , at least this is what th etax guy told me, this old lossses killed me, so I am just to assume I lost few years of my life. for now I am loking at using a website called invetrics which seems simple to use with some success
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luc1grunt
622 posts
msg #82664
- Ignore luc1grunt |
11/8/2009 11:05:32 PM
Lose a quarter mil and NOT filing mark to market trader staus?
Absurd.
Come on dude, is this a business, or a trip to vegas???
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