Recent content by LongArm

No, much of my profits go towards supporting a family. Another chunk goes toward taxes. When the account DOES get larger than necessary, I move some dinero into NON-risk-free investments.

Retaildaytrader, believe me, I'm very aware of what I say (and how I say it) on public forums. It sounds like your past experience with the IRS has hampered your ability to think clearly. Let me try to help you out here. The purpose of the IRS' reward program is to capture large (I think $2...

I'm neither avoiding nor evading taxes--I'm choosing to pay them at the end of the year rather than quarterly, which is perfectly legal.

Vhehn is correct. I never make estimated quarterly tax payments since my annual gains far exceed the interest penalty of 5-8%.

I clearly said if you had bought the pair last NOVEMBER you'd be way down, not if you had bought them last SRING at the hi/lo. Look at the performance chart and see for yourself. http://stockcharts.com/charts/performance/perf.html?fas,%20faz Sure, if you had bought the pair in spring...

Right, if you had bought the FAS/FAZ pair last November, you'd be down only about -83% by now. No big deal, eh?

It's saying that is NOT a daytrade. No offense, but you really need to work on reading comprehension.

Yes, I'm well aware. I was trying to keep the explanation as simple as possible (a 1-lot position). No, it doesn't state that at all. Okay, I'm going to try one more time, this time altering it a bit (in bold) because I have a hunch where you may be getting tripped up: Does that help?

The four or more round-trips in 5 days must be DAYTRADES (the opening and closing of a position on the SAME DAY). If you're suggesting overnight trades matter as far as the PDT rules, you're wrong. A previous day's buys never count against the PDT count. You seem to be misinterpreting...

One daytrade = the opening AND closing of the same position on the SAME DAY. It takes 4 daytrades in 5 business days to get you labelled a PDT--overnight trades do not count. Just opening a position is NOT a daytrade...however, brokers can make their own rules as strict as they like, which...

Shouldn't the period be INSIDE the quotes? (Sorry, couldn't help myself. :D ) Serially, the wun that rilly gits me is the afore-munched-on lose/loose. I swear it's spelled wrong 90% of the time. I, Jess, doughnut git that, Juan.

Hi, I need at least one year's worth of intraday (1-minute) data for UYG in an ASCII text file. Please PM me your price. Thanks.

Right, it won't be deemed a constructive sale, meaning you won't be taxed as if you realized a gain on your long shares at the time of your short. However, the holding period for your long position still changes to begin on the date you covered your short. If you DON'T meet the...

I've always felt that stop limit orders (to sell) are generally a bad idea. Basically, when using them you're saying "if the price drops to X, I want to protect myself and bail out--UNLESS it drops below my limit price without executing, in which case I'll hold on, clench my teeth and pray for...