i have a question for the stock guru's

[bran987]

sponge, fix and flipping houses is very possible for the small investor to make money. trading is a lot harder. you need a strategy, and you need to spend some time developing it and trading it without real money or with very small amounts because you have not trained your emotions out of the process and you will make bad decisions. you don't think you will, but you will. It doesn't matter how intelligent you are.

Here is a forum from a guy who used to coach the top traders in the world, he was published in a famous trading book "Market Wizards" and has some great ideas. short term trading is as much psychology & strategy as it is technical analysis. I think you are smart enough to appreciate that.

 

[spongebob]

sponge, fix and flipping houses is very possible for the small investor to make money. trading is a lot harder. you need a strategy, and you need to spend some time developing it and trading it without real money or with very small amounts because you have not trained your emotions out of the process and you will make bad decisions. you don't think you will, but you will. It doesn't matter how intelligent you are.

Here is a forum from a guy who used to coach the top traders in the world, he was published in a famous trading book "Market Wizards" and has some great ideas. short term trading is as much psychology & strategy as it is technical analysis. I think you are smart enough to appreciate that.

thanks for the advice, sounds excellent.

as of right now im waiting to hear if my bid was recieved on that house. ive had a chance to work up numbers on it for the last two days and am positive i will make at least 25k. ive worked up numbers on my actual time(sweat equity and any time lining things up) invested into it also. looks like i might put about 160hrs in. so im very confident in what i stand to gain vs investment on this.

yea i set up a fake account trading stocks on my aol. i will do that for 6mon to a year before i even attempt to do it for real. by that time i will have more money anyway. i may not even do it. just depends on where im at with any house projects. im already tossing around another idea around with another piece of property.

your comment about short term trading is excellent as well. thats exactly how i am approaching it. i need to remember what i lack in technical knowledge i need to make up for in the psychological and strategical aspects of it.

thanks for the comments, i will apply them.

 

[ZKaudio]

capital gains?

 

[spongebob]

capital gains?

you sound pessimistic about everything, lol.

yea i bet i can get by with paying 10% or at most 15%. not near enough to persuade me not to do it.

 

[benny1970]

Anybody have any decent stock tips? I'm not looking for the day trade type thing, more the type of stock to keep for a few months and hope for 10%, etc.
I've been looking at banks, like RY, and CWB.TO
What about EBAY? Took a big drop a short while ago, from about 60 down to high 30's.
I think KEA might be a decent buy, it has dropped a bit in the last few months, but it rarely seems to go much lower than it is now..

Come on guys/gals, lets share some stock tips/ideas!

 

[SgtSlaughter]

Anybody have any decent stock tips? I'm not looking for the day trade type thing, more the type of stock to keep for a few months and hope for 10%, etc.
I've been looking at banks, like RY, and CWB.TO
What about EBAY? Took a big drop a short while ago, from about 60 down to high 30's.
I think KEA might be a decent buy, it has dropped a bit in the last few months, but it rarely seems to go much lower than it is now..

Come on guys/gals, lets share some stock tips/ideas!

I know this is an "older" thread being almost a month old since the last post. But I was just browsing... and thought that I would offer some advise..

Benny1970: ease stock tip: Think Cyclical .... remember that bell shapped curve from old Economics class (well maybe not, so humor me, lol) .... everything has it's ups and downs.

Easiest (well that I can think of at this exactly momment in time) is to work with Seasonal Items.... let's say a new game system that will sell 10,000 units for the upcoming christmas ... invest in the Company before its stock increases and make some cash. But ALWAYS do your due dillegence and research historic events with the company, ect...

Good Luck!

 

[Whacked]

Remember that with Short term trading you get a SUBSTANTIAL TAX hit! I day traded/swing traded for a year sand did fairly well. My dumb ass found out at the end of that year that all my profits were subjected to the highest tax scenario possible (fo me personally). Moral of the story? Put aside 30-40% of your "realized gain" away for Uncle Sam in the event you wantto day trade/swing trade.

 

[spongebob]

Remember that with Short term trading you get a SUBSTANTIAL TAX hit! I day traded/swing traded for a year sand did fairly well. My dumb ass found out at the end of that year that all my profits were subjected to the highest tax scenario possible (fo me personally). Moral of the story? Put aside 30-40% of your "realized gain" away for Uncle Sam in the event you wantto day trade/swing trade.

is that after each sale or just when you withdrawl from your account? i plan on leaving it alone for the most part.

 

[bran987]

is that after each sale or just when you withdrawl from your account? i plan on leaving it alone for the most part.

it's once per year when your taxes are due.

i.e. if you turn $100,000 into $200,000 in a year, you'll have to pay tax on the gain. UNLESS you haven't sold the stock at any point throughout the year i.e. active trading. doesn't matter if you have withdrawn the money from you account or not. you can hold stock for your entire life and not pay any taxes on the capital gains.

 

[Devastation]

don't EVER be concerned about having to pay capital gains tax on a short term trade. taking profits when there is profits to take is the name of this game. if you wait long enough your gain could turn into a loss. but i guess then you don't have to worry about paying any tax on anything