StockFetcher Forums · General Discussion · Still looking for<< 1 2 3 >>Post Follow-up
shillllihs
3,518 posts
msg #115598
Ignore shillllihs
9/29/2013 2:53:27 AM

oh well it just does not exist. i'll stick with my penny stocks that avg. 200% + a year.

marine2
829 posts
msg #115599
Ignore marine2
9/29/2013 4:37:15 PM

Shill, what amount of cash do you lay on each trade you do for your penny stock buys? Are you extravegant in the amount or rather conservative. Give me some numbers to rattle around in my head. Thanks.

shillllihs
3,518 posts
msg #115600
Ignore shillllihs
9/29/2013 5:23:24 PM

i lay anywhere from 1-5g on each 1. i hold about 15 but have cashed out of about 25 this year. i play them like a dividend as i constantly take cash off the table & do not reinvest we will all ultimately be burned in the future so this is a must Doing real well for the last year as i'm taking 1-2g off the table weekly. i keep saying i should open another business but why bother when this is so much easier.

Eman93
4,659 posts
msg #115601
Ignore Eman93
9/29/2013 7:35:09 PM

There is no ultimate filter.

This is just an oversold reading... that is all... loosely based on M4M posts and my own tweaks.

Then just buy support and sell resistance.. thats all.

Kevin_in_GA
4,536 posts
msg #115602
Ignore Kevin_in_GA
9/29/2013 9:22:24 PM

You should start another business - purely for tax purposes.

Form a LLC with you and your wife for the specific goal of trading your account. Since it is a business whose sole purpose is trading you can take advantage of certain tax rules that can reduce the tax rate on your short term profits to 15%, and you can have the company set up 401ks for you and your wife, which you can fully contribute your "salaries" AND still get corporate matching. That way basically all of your profits can be exempt from taxes. Properly done, you pay no taxes on earnings at all.

marine2
829 posts
msg #115606
Ignore marine2
9/30/2013 12:52:11 AM

With how much money he is raking in a week that makes a lot of sense Kevin.

shillllihs
3,518 posts
msg #115608
Ignore shillllihs
9/30/2013 1:25:23 AM

sounds interesting. i will wait and see how it goes for awhile. just want to see if this continues. don't want to jinx it.

too ez to be knocked out of this game...

marine2
829 posts
msg #115633
Ignore marine2
9/30/2013 5:28:02 PM

There's always a catalyst that creates negative stock actions and this upcoming government shut down certainly could be one of them. Let's think opportunity however, and pounce on some ripe stocks when our nations leaders turn the government lights on after a brief outage.

SAFeTRADE
412 posts
msg #115638
Ignore SAFeTRADE
10/1/2013 12:05:14 AM

Kevin,

There are different forms(for lack of a better word) of LLC's which would you recommend?
Thinking about doing that.

Clarence

Kevin_in_GA
4,536 posts
msg #115652
Ignore Kevin_in_GA
10/1/2013 11:58:18 AM

I would recommend that you talk with a professional who does this sort of thing for a living. These guys seem to be the best (I am looking at doing the same thing, but want to also set up a trust for my kids as one of the LLC or company "owners").

www.tradersaccounting.com

I have spoken with them and their prices are reasonable for this type of service (cost is between $600 - $1800 depending on what you want done and how much accounting support they will be providing). What they bring to the table is a lot of experience setting these up specifically for trading as the business.

Kevin

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