shillllihs
6,044 posts
msg #115598
- Ignore shillllihs |
9/29/2013 2:53:27 AM
oh well it just does not exist. i'll stick with my penny stocks that avg. 200% + a year.
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marine2
963 posts
msg #115599
- Ignore marine2 |
9/29/2013 4:37:15 PM
Shill, what amount of cash do you lay on each trade you do for your penny stock buys? Are you extravegant in the amount or rather conservative. Give me some numbers to rattle around in my head. Thanks.
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shillllihs
6,044 posts
msg #115600
- Ignore shillllihs |
9/29/2013 5:23:24 PM
i lay anywhere from 1-5g on each 1. i hold about 15 but have cashed out of about 25 this year. i play them like a dividend as i constantly take cash off the table & do not reinvest we will all ultimately be burned in the future so this is a must Doing real well for the last year as i'm taking 1-2g off the table weekly. i keep saying i should open another business but why bother when this is so much easier.
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Eman93
4,750 posts
msg #115601
- Ignore Eman93 |
9/29/2013 7:35:09 PM
There is no ultimate filter.
This is just an oversold reading... that is all... loosely based on M4M posts and my own tweaks.
Then just buy support and sell resistance.. thats all.
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Kevin_in_GA
4,599 posts
msg #115602
- Ignore Kevin_in_GA |
9/29/2013 9:22:24 PM
You should start another business - purely for tax purposes.
Form a LLC with you and your wife for the specific goal of trading your account. Since it is a business whose sole purpose is trading you can take advantage of certain tax rules that can reduce the tax rate on your short term profits to 15%, and you can have the company set up 401ks for you and your wife, which you can fully contribute your "salaries" AND still get corporate matching. That way basically all of your profits can be exempt from taxes. Properly done, you pay no taxes on earnings at all.
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marine2
963 posts
msg #115606
- Ignore marine2 |
9/30/2013 12:52:11 AM
With how much money he is raking in a week that makes a lot of sense Kevin.
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shillllihs
6,044 posts
msg #115608
- Ignore shillllihs |
9/30/2013 1:25:23 AM
sounds interesting. i will wait and see how it goes for awhile. just want to see if this continues. don't want to jinx it.
too ez to be knocked out of this game...
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marine2
963 posts
msg #115633
- Ignore marine2 |
9/30/2013 5:28:02 PM
There's always a catalyst that creates negative stock actions and this upcoming government shut down certainly could be one of them. Let's think opportunity however, and pounce on some ripe stocks when our nations leaders turn the government lights on after a brief outage.
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SAFeTRADE
644 posts
msg #115638
- Ignore SAFeTRADE |
10/1/2013 12:05:14 AM
Kevin,
There are different forms(for lack of a better word) of LLC's which would you recommend?
Thinking about doing that.
Clarence
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Kevin_in_GA
4,599 posts
msg #115652
- Ignore Kevin_in_GA |
10/1/2013 11:58:18 AM
I would recommend that you talk with a professional who does this sort of thing for a living. These guys seem to be the best (I am looking at doing the same thing, but want to also set up a trust for my kids as one of the LLC or company "owners").
www.tradersaccounting.com
I have spoken with them and their prices are reasonable for this type of service (cost is between $600 - $1800 depending on what you want done and how much accounting support they will be providing). What they bring to the table is a lot of experience setting these up specifically for trading as the business.
Kevin
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