06-07-2020, 09:20 AM
(06-06-2020, 08:55 AM)Shannon Wrote: How does one handle taxes with day trading?
Taxes? What are those, lol?
I'm presuming that what you are doing and talking about is called day trading... where you are focusing on fast profits from buying and selling in the short term.
Ah semantics, thy be a bitch, I am but not since I like to hold stocks for more than 24 hours, day traders strictly trade in same day only.
Taxes is one of the things I'm not sure I understand about trading just yet and haven't had a chance to read about it.
Me too, I must check on that soon but I think I pay 40%of my profit goes to taxes.
It would seem incredibly easy to make money consistently by putting your money into, say, 10-20 good stocks, setting a sell order that only executes if and when it's up X%, and just leaving it alone until it sells. Then you go find some other stock, and do it again. Seems foolproof, as long as you're patient. But I don't want to get into tax hell.
Only looks like a hell and do I sense a little resistance about taxes, hmm? Jk.
Easy but slower than I want to go. It’s good but as more of a passive income, like a sub, set it and forget it.
