The Trader Profit's daily P&L and Travel / Money Spending Journal

T

thetraderprofit

Since I am now a shill, I will chronicle my daily P&L. But, the twist is that I will also chronicle what I do with the money.

Since I made a profit today, I'll call this Day 1. June 20th.
Net Profit: Approximately $5,000.
From what?

Dream on, pal.

YTD only $65,000, ex-interest and dividends (took 2.5 months off---that's my excuse, and I'm sticking to it).
.

Monday, I plan to lose $1,800. We'll see what happens. Maybe I can compete with the fortune-tellers as well as the profit -seekers.

What? You say choosing a profitable day to start my journal is unfairly biased? Tough titties, it's my journal ,and I at least get to pick the starting point.

If you don't believe I'll be fair with the numbers, ask Don Bright, Nitro, Gertsman, Inmate451 or Ditch. (Don't mention AK-47's with silencers and armor-piercing bullets to Ditch---even such discussions are illegal in Holland. They are scared he'll blow away the farmer who keeps waking him up with the tractor each morning)

As to the money-spending parts:

June24- July 3 I will be traveling (first-class, of course) to Central America.
So, I should be profitable until at least that time, barring a Monday disaster.
I will offer secret TTP tips buried in my journal. Watch for them.
You're paying precisely what they are worth.

Best tip for month end: I am accumulating HRP after the secondary priced at $9.51 and the stock traded down.

Will you get my positions and strategies if you trade at my firm?
Forget it. But, you will get to sneak in on Saturdays, turn on my machines, and try to figure out what I'm doing. At least, it's a start.
 
Money spending journal? Man, you're one mean sadist. Don't you have any pity at all for our resident spoonless crybabies?:p :D :p :D .
Nice twist on the regular journals, though.:)
 
Quote from thetraderprofit:

Don't mention AK-47's with silencers and armor-piercing bullets
More...

Good start TTP :D
Loud mouth, but little knowledge...

AP bullets are loaded in standard powered AK-47 rounds (ie : 7.62*39 (also known as M43). Average velocity is 2000 fps, which means supersonic. So, the sonic crack is audible through the bullet course, and the AK-47 action is still giving away the shooter's position.
Which is why any suppressor or silencer on an AK-47 is absolutely worthless (expect to loudmouthed clueless american traders :D)


OHLC
 
What, you say , "Impossible!"

Think again.

I have sold my home for $602,500, netting a measly (measley?)
$32,000 after expenses and upgrades.

In the interest of fairness, this will not be included in my P&L;
however, be forewarned that unusual trades may be included in the future.

If possible I will continue my journal from Costa Rica and Panama as I will have positions.
 
I am also shilling for our two full-size vending machines, despite only having three traders. I need the extra 10 cents we make per can (7 cents per candy bar), so feel free to stop by.

What's funny is that others in the building use our machines, then ask what we do. They can't seem to comprehend we are trading for ourselves, no matter what we say.It doesn't matter how clear I make it. They always think we are some kind of Boiler Room.

Of course, it could be that we are always joking with them that we change our name every day.
 
What would really be interesting are the ways that you shield your profits (ie expense everything like mad from the IRS, commodities favorable tax treatment, etc), how you treat your trading P/L as a business or as an indiviual, and how you turn your long/short term losses into a tax/business expense advantage.

Hmmm, what else... do you transfer some of your profits into your business's 401k buy paying yourself a salary thereby also getting a tax deduction for your business? etc. etc. etc.

Also, how about profit target purchases? Do you plan on buying your own jet? limo? etc. and ETA to that purchase given your system and plan.
 
Unfortunately, I am an EXTREME pussy when it comes to the IRS.
I expense almost nothing. I do take trader status since I'm trading a retail account, but I'm so disorganized I usually fail to save receipts. In addition, since the past three years have seen my personal exemption wiped out and my itemized deductions reduced by 80% due to a phase out, I'll bet my expenses have been less than 3% of my income---if even that much.

Luckily, the income number is easy to come up with in trading since it's all electronic. So, my average tax rate has been nearly the top marginal rate (over 35%).

I could deduct cable, some travel, maybe some car expenses, and The WSJ, but the recordkeeping just isn't worth the waste of my free time.Also, some of these expenses are both personal and business and I don't want to spend time figuring out the percentages or justifying it later.

I tied up most of the money I made in corporates and munis.
AAA-rated insured non-AMT munis still seem better to me than dividend-paying stocks.

Does it make sense that MO should yield 6.2%, yet the Golden State Tobacco Settlement Bonds yield about the same--yet are tax free? Of course, those bonds aren't AAA rated.
 
Boy, using my name as a reference....what has this world come to?

Actually, TTP is one of the smartest people I know....albeit a little crazy at times, and now that he is in the vending machine business....I am extremely concerned about his compeition. Since all our snacks are free....and he is piling up the coins!!

Be sure to be kind to this gentleman, especially while he is on vacation around the world trying to spend less than his daily interest/divident income.

Mr. Prophet, since you are on the phone with my brother as I type this....I will be gentle, and wish you, as always, the very best....and have a ball on your trip!!

Don
 
Quote from Don Bright:

...are on the phone with my brother as I type this....I will be gentle, and wish you, ...
Don
More...
I didn't know Bob was in the "advance on your paycheck" business?

nitro :cool:
 
You must log in or register to reply here.
Back
Top