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Update: I have replaced all my gold and silver that I sold. I was expecting more of a decline and didn't get to reload at tremendous prices. But oh well, saved a few percent. I am not sure it was worth the gut wrenching involved, but probably. Knowing how the market usually works, its...

Not only promoted, but he said he was "One of the great ones." Typical.

I don't think it is that simple. I think it depends on the chronological order of the trades. You should play around with that free wash sale calculator to see what I am talking about. I.e., even if your last trade for the year is a profitable one, that doesn't mean you will be able to take all...

Wow you are a dick.

Exactly. Like I've said before, Bernanke is just like Nick Leeson or any other rogue trader. He is dogmatic, doesn't use stops, and for some reason has access to almost unlimited capital. The US's trading account is going to get blown out at some point.

Personal opinion is that F was being bought in advance of the IPO and was unloaded into all the euphoria. Cramer said one of the best ways to play the IPO was to buy F today (on yesterday's show). Just another indicator that it was time for a pullback.

WWJDF - What Would Jesus Do Fund

Your method is probably the best way to handle the problem. The buster gets penalized (but probably not taken to the cleaners) and the liquidity provider gets something for having their neck on the line. Even though I can't stand the busting, it seems like a good compromise.

Ahz-weep-ay

Note: this will come off as bragging and since I never post about my results on this forum, may be hard for people to believe. However, its funny this thread found me just when I was thinking about/fighting with the same issue. I make my living by daytrading. But I do read people like...

I think it depends on the chronological order of his trades. There could be losses at the end of the year that don't get wiped out by profitable trades. In the end, the only way you can tell is by using a wash sale calculator (like Tradelog or there is a free one at Offwall.com).

Interest!

Agreed but the tax man needs more revenue!

You can declare M2M just for securities trading to avoid this problem. From: http://www.greencompany.com/EducationCenter/GTTRecTaxTreatmentTraders.shtml it says:

I think you have used a very exaggerated comparison to get your point across. The two situations are not equivalent. I will take your argument and throw it back at you - so are you going to completely dismiss the argument presented against the Fed because of some of the participants involved...

Please read this entire page: http://www.fairmark.com/capgain/wash/wstrader.htm It talks about taking a "winter vacation." Now in your particular case (since your trades are mostly profitable), you could probably get away with not taking this vacation. I.e., if you follow your trade...

This is incorrect. You have to apply for mark-to-market accounting in order to avoid the wash sale rule. And you can only apply for mark-to-market accounting if you have trader status. See here (under Don't confuse trader tax status with MTM)...

I'm going to respond to this in your other thread because this is off topic.

An article which attacks the people behind an argument and not the argument itself is useless.

Bernanke is just Greenspan on steroids. If you think Greenspan was a disaster, I don't see how you can think Bernanke will do any better. He is lowering interest rates/injecting liquidity to solve every problem, which is what his predecessor did. If Bernanke were to raise interest rates more...