Now is not the time to be in oil. Wait until the supply and demand numbers go in your favor. OPEC will need to cut production, and then it'll still take some time to work off the excess of supply currently in the system. The numbers might not swing favorable for months or years.
One thing...
There's a Plan B?
I thought you already put all your money on those calls.
But whatever this Plan B is (unless it involves a spatula and a patty), please let us know...so we can fade it ahead of the masses.
It sucks. You just gonna have to owe the IRS that money. It really is stacked against you. And you get to claim $3k off your yearly income until you make enough profit to cover it or until you finished claiming it year after year.
I would consult a professional tax attorney to look at your...
I put in the net profit and losses of all the trades in 1 line on the tax form, and reference the attachment. Then I attach an excel with all the trades with individual trade details, and on the bottom, it shows the net profit and losses.
I remember attaching the 1099 from Interactive...
When Wells Fargo canceled their recent Vegas "Recognition" junket, in their defense, their rep said that this event was not funded by any of the TARP money.
LOL. Clueless.
A monkey can trade better than the FXCM managed accounts. I don't even know why they offer paid training courses...especially with that kind of returns.
The mere fact that someone would place all of their money on short term options only (without inside information) is not a trader.
There is no edge/risk/trade/money management involved. The sad part is that it doesn't even matter whether the trade is positive or negative. This is just...
Do tell. Enlighten us with your inside knowledge.
I copied the follow excerpt from wikipedia.
It's not the end of the month yet, but I'm around +$12K for this month. Nothing to pop champagne over, but still decent.
So you're 0 for 2.
And if you read what Dennis was writing, his...