TheRumpledOne
6,411 posts
msg #65296
- Ignore TheRumpledOne |
7/21/2008 12:41:56 AM
SPF from $3.15 to $3.95 close Friday to Friday.
Trading just one stock....
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WALLSTREETGENIUS
983 posts
msg #65312
- Ignore WALLSTREETGENIUS
modified |
7/21/2008 12:08:30 PM
You're right...Williams(2) increased, while RSI(2) FELL on Friday 7/11/08!
Nice trade Avery....SPF has been lights out for you man....
RIGGS
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dforant1
76 posts
msg #65465
- Ignore dforant1 |
7/26/2008 6:29:16 PM
The SPF 15 minute candle method sounds good but I could pull off only 3 trades for 1day and would have to sit aside for 5 days before the next trade because of trading rules. Otherwise post $25000. Presently doing the RSI (2) with some success long and short.
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humbletrader
3 posts
msg #65473
- Ignore humbletrader |
7/26/2008 10:12:48 PM
Please excuse such a simple question from someone trying to learn day trading. I really like the idea of trading one stock but know that if you trade a stock frequently you cannot claim your losing trades for tax purposes ( Wash Rule). How do you trade one stock but avoid the huge taxes.
Thank you for helping new traders.
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TheRumpledOne
6,411 posts
msg #65474
- Ignore TheRumpledOne |
7/26/2008 10:20:57 PM
humbletrader
- Ignore humbletrader 7/26/2008 10:12:48 PM
Please excuse such a simple question from someone trying to learn day trading. I really like the idea of trading one stock but know that if you trade a stock frequently you cannot claim your losing trades for tax purposes ( Wash Rule). How do you trade one stock but avoid the huge taxes.
Thank you for helping new traders.
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That's not the case.
The records of your trade establish a pattern. It would be obvious, even to the densest IRS agent, that your trades were not to avoid or evade taxes but just your normal trading style.
http://www.irs.gov/pub/irs-drop/rr-08-05.pdf
READ IN ENTIRITY.
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humbletrader
3 posts
msg #65477
- Ignore humbletrader |
7/26/2008 11:25:22 PM
Thank you TRO for your info. I have been day trading SPX recently and everytime I take a loss my broker ( Fidelity) reports it as a wash sale. Since I dump my broker records straight into my tax software each year I think I'm losing a lot of money by the wash sale designation. Any way around this?
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TheRumpledOne
6,411 posts
msg #65483
- Ignore TheRumpledOne |
7/27/2008 1:21:14 AM
Use different tax software or speak with your broker.
Then again, learn to enter and exit with a profit!!
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humbletrader
3 posts
msg #65495
- Ignore humbletrader |
7/27/2008 10:52:46 AM
That's what I'm trying to do by talking to someone of your obvious intellect. :-) lol
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dforant1
76 posts
msg #65498
- Ignore dforant1 |
7/27/2008 1:28:13 PM
is average true range same as average daily range. ATR/ADR
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TheRumpledOne
6,411 posts
msg #65499
- Ignore TheRumpledOne
modified |
7/27/2008 1:45:31 PM
Q. is average true range same as average daily range. ATR/ADR?
A. NO!!!
Average True Range
From Wikipedia, the free encyclopedia
Average True Range (ATR) is a technical analysis indicator developed by J. Welles Wilder, based on trading ranges smoothed by an N-day exponential moving average.
The range of a day's trading is simply high − low. The true range extends it to yesterday's closing price if it was outside of today's range:
true range = max(high,closeprev) − min(low,closeprev)
The average true range is then an N-day exponential moving average of the true range values. Wilder recommended a 14-period smoothing. Note this is by his reckoning of EMA periods (see the EMA article on that), meaning an á=1/14.
The idea of ranges is that they show the commitment or enthusiasm of traders. Large or increasing ranges suggest traders prepared to continue to bid up or sell down a stock through the course of the day. Decreasing range suggests waning interest.
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From StockFetcher:
Using the relationships between the high and low of a day compared with the previous close, the Average True Range is a measure of volatility developed by Welles Wilder. Typically used to identify oversold and overbought conditions, a low average true range indicates a stock which lacks volatility, while high average true range indicates potentials sell-offs of a stock.
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From StockFetcher:
The average day range computes a simple average of the day range over a given number of days. This value is also represented as a percent of the closing price.
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