Quote:
Originally Posted by Herb9
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Well it's my wholesale account, so I only pay $4.50 in and out per trade, and I keep 100% of profit less 15% cap gains. +6k from dec 1 to dec 11 -15% means I can take off until the holidays are over.
Only slightly difficult part is waking up for london opens but I only have to roll out of bed to trade. Also,illegal for brokers to leverage trades from Roth IRA or I wouldn't even have to pay that 15% tax, sigh.
Sorry you had to sit at a desk and trade someone else's money. I got a 15k loan to get mine started and get to set my own hours, make my own system, and be my own boss, sucks you didn't have the drive or resources to do this yourself and got burnt being someones bitch.
Retirement by 35 with a dozen free n clear sfh rentals and 1m+ liquidity is the goal. Im on pace to hit that by 33 but new regulations may be coming to severely limit individual retail traders ability to leverage so I gotta make hay while the sun shines.
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Unfortunately you may also see a huge spike in cap gains in the second half of this administration. Because your typical idiot doesn't know what capital gains tax means (i.e. Buffet Rule), everyone supports increasing it.Obama thinks 35-40% is a better number.
In addition, to the best of my knowledge, new regulations will only directly limit retail trader's ability to trade on unseasoned investors' capital. I guess other regulations could indirectly limit your ability to leverage by decreasing flow of loans from banks.
Volatile market means arbitrage everywhere