Daytrading from your Roth IRA account...

Andre · Feb 7, 2003

You also can't short in an IRA, correct?

AndrÃ©

Woody · Feb 7, 2003

Quote from Andre:

You also can't short in an IRA, correct?

AndrÃ©

If you are asking about stocks, I don't know. But you can defintely short futures in an IRA account

axeman · Feb 7, 2003

IRA accounts cant be margin accounts, therefore
no shorting.

I plan to day trade my regular account, and swing
trade my IRA accounts.

peace

axeman

Jayford · Feb 7, 2003

Quote from Boomer:

i was reading an interview in the new active trader about a trader who trades through his 2 roth accounts. he says that this is one of his key success factors, and wonders why so many traders neglect this principle. i would love to hear what others traders have to say about it. i am an inquiring mind also.

The Feb issue of this mag also has an article by Green (who posts here occaisionally) which states that if you "trade" more than 25% of your IRA, it could be considered taxable income. He gave no further details than this however. I do not know how a trust would work in this case.. If gobs of people are doing it, then I would suppose it works.

Jay

speedy · Feb 7, 2003

Does a Roth IRA have to be established before Dec 31st?

axeman · Feb 7, 2003

Dont think so. You have a few months.
Same deadline as an IRA contribution deadline I think.

Go sign up for one with IB and it will tell you.

peace

axeman

Quote from speedy:

Does a Roth IRA have to be established before Dec 31st?

Andre · Feb 7, 2003

Kind of curious if anyone knows about splitting an IRA's funds into two accounts. My IRA is currently held by Edward Jones. They're buy and hold types. And expensive. I've got about about half in Mutuals and half in stocks. IB doesn't trade the mutual fund family I hold, but I'm happy with them.

I was told, it's simple, just transfer the stocks and cash into an IB IRA account. But I guess I'm skeptical. Can you have your IRA funds in two different accounts? Has anyone done this?

AndrÃ©

uptik2000 · Feb 7, 2003

Quote from speedy:

Does a Roth IRA have to be established before Dec 31st?

No, you have up until April to establish and fund a Roth or any IRA for 2002.

uptik2000 · Feb 7, 2003

Quote from Andre:

Kind of curious if anyone knows about splitting an IRA's funds into two accounts. My IRA is currently held by Edward Jones. They're buy and hold types. And expensive. I've got about about half in Mutuals and half in stocks. IB doesn't trade the mutual fund family I hold, but I'm happy with them.

I was told, it's simple, just transfer the stocks and cash into an IB IRA account. But I guess I'm skeptical. Can you have your IRA funds in two different accounts? Has anyone done this?

AndrÃ©

Yes, you can split the assets in an IRA. What you need to do is open another IRA somewhere, have the Edward Jones cut you a check from your existing IRA and then be sure to deposit it in the new IRA...I think it must be done within 30 days. I forget exactly how many days you have.

Free Thinker · Feb 7, 2003

Quote from uptik2000:

Yes, you can split the assets in an IRA. What you need to do is open another IRA somewhere, have the Edward Jones cut you a check from your existing IRA and then be sure to deposit it in the new IRA...I think it must be done within 30 days. I forget exactly how many days you have.

do a direct wire transfer. dont get the check in your name.