Well I don't know about what's going on over there in Canada but in the USA (the best country on the planet) you'd be screwing yourself.
Stock market gurus, I need some schooling on investing. I'm looking to buy a starter home in about a year or two and I want to get my money working for me to bolster what I already have saved for a down-payment.
I do have investment accounts set up with a financial planner, which my parents opened when I was little. I haven't been happy with their performance though. I've only been breaking even, and I've actually been losing money over the last year.
I'd like to broaden my options as I'm not too happy with this guy managing my investments. What are some resources out there to teach me how to invest wisely?
Back to actual trading and the market...
Another slow day, but TGT is doing good. Too bad I checked out a few weeks ago, then again, it's only up about an extra 2% from when I sold, so meh.
So glad I got out of Loblaws (L) last week for a measely $50 gain. It tanked 5% on craptastic earnings today. Great buying opportunity coming up over the next week though.
A very experienced day trader I've encountered commented that every single day trader he'd met had gone broke at least twice. I guess it's addictive.
A money with purpose within a year shouldn't be risked in the market. You'll just want to stick to something safe like CDs. You won't make much but it's better than not having your money when you need it.
If you're so inclined you could set aside the minimum you need for a down payment and invest the rest. Just pick a broad category that you'll think will be up over the next year and get a mutual fund or EFT that reflect that sector. Be prepared to either take that money out at a loss or keep it there longer than a year if the market is down.
Why is Sears up 23% on reports of a huge loss in Q4 '11?
The problem is people will overestimate their intelligence and skills which is catastrophic when it comes to loss of principal and day trading. They think they have some kind of edge and in reality the do not so all they do is erode their principal over time and make the retail broker richer.
A money with purpose within a year shouldn't be risked in the market. You'll just want to stick to something safe like CDs. You won't make much but it's better than not having your money when you need it.
If you're so inclined you could set aside the minimum you need for a down payment and invest the rest. Just pick a broad category that you'll think will be up over the next year and get a mutual fund or EFT that reflect that sector. Be prepared to either take that money out at a loss or keep it there longer than a year if the market is down.
A money with purpose within a year shouldn't be risked in the market. You'll just want to stick to something safe like CDs. You won't make much but it's better than not having your money when you need it.
If you're so inclined you could set aside the minimum you need for a down payment and invest the rest. Just pick a broad category that you'll think will be up over the next year and get a mutual fund or EFT that reflect that sector. Be prepared to either take that money out at a loss or keep it there longer than a year if the market is down.
i missed the boat on Dryships. it's a shipping company based in Greece.
it's up 60% this month due to the Greece bailout being finalized
sigh..
yes, still bitching that i'm only 100% in stocks and not leveraged to 200% margin at a ridiculous 2.99% margin rate if over $100k borrowed.
think i'll buy a share of BRK.A just to brag
Yeah i'm still sitting on a whole lot of shares at 7 bucks (bought it a couple of years ago). Debating buying some more to average down but I don't know how sustained this is going to be...
Amazon is returning to the price I got in at
I would have bailed at 100% return and been happy about it no matter what happened to the stock.
I don't get this point of view from day traders.Right? Man, I hope I get buy a stock that doubles in price overnight...just once...
I have a tax question for anyone familiar with this.
I normally trade 100% stocks but last year I sparingly traded some ETF's for the first time. I looked at my 1099-B today, and it lists the gross sale proceeds for all stocks, and under that it has a new category, "Wash Sale Loss Disallowed". Is this associated with trading ETF's?
A wash sale is when you sell a stock and then buy it back within a short period.
http://en.wikipedia.org/wiki/Wash_sale
With a wash sale you can't report it as a loss on your taxes. You hopefully got some tax forms from your broker that will show you how to file it.
Mark-to-market election made. If you made the mark-to-market election, you should report all gains and losses from trading as ordinary gains and losses in Part II of Form 4797, instead of as capital gains and losses on Form 8949 and Schedule D. In that case, securities held at the end of the year in your business as a trader are marked to market by treating them as if they were sold (and reacquired) for fair market value on the last business day of the year. But do not mark to market any securities you held for investment. Report sales from those securities on Form 8949 and Schedule D, as appropriate, not Form 4797. See the 2011 Instructions for Schedule D.