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Posted on 12/6/24 at 4:17 pm
Posted on 12/6/24 at 4:17 pm
Delete
This post was edited on 12/11/24 at 4:54 pm
10
Posted on 12/6/24 at 4:37 pm to bawlin
No tax implications on any gains and no losses to use as income offset either. check with your broker to see what, if any, transaction limitations they may have on qualified account. If there are no limitations on the number of trades during a given period, let it rip.
Oh yeah, if you are not good at "day trading" or are new to the idea you stand a good chance of losing it all so be careful.
Oh yeah, if you are not good at "day trading" or are new to the idea you stand a good chance of losing it all so be careful.
Posted on 12/6/24 at 4:53 pm to CHGAR
(no message)
This post was edited on 12/11/24 at 4:59 pm
Posted on 12/6/24 at 4:56 pm to bawlin
I wouldn't day trade with IRA money
too much temptation to gamble away your nest egg
too much temptation to gamble away your nest egg
Posted on 12/6/24 at 5:09 pm to bawlin
day trading tip
if you want to walk away with 100k
make sure you start with 200k
if you want to walk away with 100k
make sure you start with 200k
Posted on 12/7/24 at 6:53 am to bawlin
Time in the market>> Timing the market
Posted on 12/7/24 at 8:36 am to Harry Rex Vonner
quote:
I wouldn't day trade
You can stop right there.
Posted on 12/7/24 at 11:17 am to bawlin
I don’t “day trade” with my IRA funds but I do have a self directed account where I buy individual stocks. Theoretically I can buy and sell what I want when I want.
Posted on 12/7/24 at 4:12 pm to bawlin
Not that you asked, but I would just put it all in something hot.
SOUN
SERV
RGTI
BBAI
MRVL
They won’t continue straight up, but I think you’d pleased overall in a year or two.
SOUN
SERV
RGTI
BBAI
MRVL
They won’t continue straight up, but I think you’d pleased overall in a year or two.
Posted on 12/7/24 at 6:34 pm to bawlin
quote:
can I “day trade
Turn your account into a margin account and you can day trade with no limits. Or you can day trade within the amount of settled cash you hold in your account. If you are really interested in a lot of day trading, contact E*Trade or whoever your account is with and they can help you turn your account into a margin account and/or teach you what settled cash is, show you how to monitor your settled cash, and explain to you how to trade within your settled cash on a daily basis.
Posted on 12/7/24 at 6:41 pm to 98eagle
I thought sec rules say you have to have like 30k in assets before you could day trade.
This post was edited on 12/7/24 at 6:42 pm
Posted on 12/7/24 at 7:05 pm to bamabonners
quote:
I thought sec rules say you have to have like 30k in assets before you could day trade.
Good point! I hold a lot of settled cash in my accounts, so it is not an issue for me.
I wasn't familiar with that but you're right, there are some rules after I did a quick search. It must be different depending on who your account is with. Charles Schwab requires $2,000 in cash or marginable securities in your account, but there are other requirements.
So anyone wanting to day trade within a margin account should check with whoever their accounts are with.
This post was edited on 12/7/24 at 7:31 pm
Posted on 12/9/24 at 10:03 am to bamabonners
quote:
I thought sec rules say you have to have like 30k in assets before you could day trade.
25k. You get 3 day trades a week before that point, but only 3.
Posted on 12/10/24 at 8:42 am to bayoubengals88
quote:
Not that you asked, but I would just put it all in something hot. SOUN SERV RGTI BBAI MRVL
I should’ve taken this advice yesterday….
Posted on 12/10/24 at 11:43 am to 98eagle
Delete
This post was edited on 12/11/24 at 4:56 pm
Posted on 12/10/24 at 11:53 am to bawlin
I guess people make money day trading, but most of those people are the market makers.
Posted on 12/10/24 at 12:55 pm to bawlin
Have you been backdoor Rothing? If so you owe money if you've had a balance in a traditional IRA this whole time.
Posted on 12/10/24 at 1:25 pm to makersmark1
I agree. I used to think I was so smart day trading then lost money. Slow and steady is the way to go.
Posted on 12/10/24 at 1:34 pm to bawlin
Just because you won’t access the money for 30 years, don’t consider it gambling money. If you make a habit of day trading with your retirement money you better plan on working until you are 90.
Posted on 12/10/24 at 3:02 pm to SM1010
Delete
This post was edited on 12/11/24 at 4:54 pm
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