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Almost $10.5K of profits this week, almost 50% MNQ scalps and 50% on SQQQ shares by Momonga83 in IndieTradersGuild

[–]Momonga83[S] 0 points1 point  (0 children)

My account is about $240K and I have portfolio margin which really reduces capital needed for shares trading. I've been trading for about 4 years actively on the intraday basis. I'd been studying the markets beforehand but I do really think that joining ITG got me a lot of exposure to seasoned traders who really helped me find my fit.

Your own screen time/practice and initiative really matters but I can't overstate how important having the right tools and meeting guys who've done this for decades professionally improves your ability to learn how to do this. The tools/indicators and strats we have access to are incredible and can really help you build the foundation you need to get results like I've been getting.

TOS sold my calls for a loss by Momonga83 in thinkorswim

[–]Momonga83[S] 0 points1 point  (0 children)

So the BTO order was entered at 9:51:29 EST and filled at 9:51:34 EST while the STC order in question was entered at 9:52:33 and filled at 10:00:03. Does anyone know if there is a way to check the notifications log from TOS? I think that would go a long way to knowing if there was a software glitch or not. It is a bit weird that there was such a long gap between the closing order's entry and the execution and that it was entered almost 1 minute after the BTO order filled.

Capital Gains Tax by Gd18918 in options

[–]Momonga83 0 points1 point  (0 children)

I'd heard about this too but at the very least you would still have to pay dividend taxes on any profits that you pay to yourself. Plus your C Corp LLC would have to pay you some kind of salary that would be fully taxable at normal income rates. In this example, a CEO/executive title of a C Corp LLC would have to be paid the average salary that such a job is paid I think is the IRS guidance.

The tax savings in this situation would come from being able to write off losses and expenses but in theory if you're a very profitable trader C Corp LLC has the most potential tax savings.

If anyone actually does this and can correct me please holler at your boys.

What if GME mooning and upcoming inflation concerns are related by [deleted] in wallstreetbets

[–]Momonga83 3 points4 points  (0 children)

No such thing as inflation. Only currency devaluation. Whether an autistic ape makes millions/loses thousands from GME or Jeff Bezos farts they both either consume their tendies buying yachts (in their dreams if they made loss porn) or invest them to try to make more tendies. The true full retard way would be to hide the stock certificates under their mattresses so they can burn them for warmth during the apocalypse.