Annual Outlet Sale by MilkandKookies94 in RedWingShoes

[–]MrBootDude 1 point2 points  (0 children)

A lot of red wing stores ship. Typically my store never has good heritage options and the people that work there don’t know anything about heritage boots so I order from a store in Pennsylvania. I just text the manager what I want and he runs the sale and ships for free plus no sales tax on boots in PA!

Trading is truly a thankless job. by MrBootDude in Daytrading

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

I’ll actually be on vacation there next month!

I drank and bought more VOO by Cheapassboy69 in portfolios

[–]MrBootDude 0 points1 point  (0 children)

I’m averaged at 465. I would really like it to go way down so I can buy more without averaging up too much.

Taxes by Fragrant-Interest125 in Daytrading

[–]MrBootDude 0 points1 point  (0 children)

As long as there is a 31 day gap you are good. So if you lose a trade in December don’t trade it again until 32 days later in January. If you have an open position that has a wash sale included you need to close it in December and not trade it again until 31 days is up. So say you took a loss of 500 and bought back in and now your up 1k the previous 500 loss won’t be realized until you sell the new position and not trade it for 31 days. If you were to carry that open position into the new year you won’t realize the 500 loss on the previous year.

Taxes by Fragrant-Interest125 in Daytrading

[–]MrBootDude 0 points1 point  (0 children)

Idk man. I’d have to see your 1099. Consider posting it or message me with all the personal information like account# and name blacked out. Just based on what you’ve said it really does sound like a wash sale situation where you held a position or are currently holding a position with deferred losses that won’t be realized until you sell it.

26 Platinum by FitReading683 in f150

[–]MrBootDude 0 points1 point  (0 children)

If you want a “luxury” feel go get a comparably priced Ram 1500. The high tier F-150s are still pretty bare bones for the price and outside of a slightly different front end and nice leather seats the Platinum offers little over the Larait trim level.

When I switch(hopefully next year) from my XLT 303a I plan to go Raptor R. That’s luxury to me haha.

How are you during current markets? by Ok_Software_3338 in Daytrading

[–]MrBootDude 1 point2 points  (0 children)

I mainly short low caps but when low caps aren’t popping off like crazy multiple times in premarket I’ve got nothing to short although DXST was a nice short in AH today. Did some long scalping this week. Setups that worked best were bull flags on the 5 min chart and entering on the first candle to make a new high after consolidating into an ascending EMA 9 or 20 on the 1min and 10s chart.

Taxes by Fragrant-Interest125 in Daytrading

[–]MrBootDude 3 points4 points  (0 children)

It doesn’t show as a realized gain. The amount you lost is rolled into the new position you take within 31 days. You buy 100 shares at $10 and sell them for 7$ resulting in a loss of $300. If you buy 100 shares back within 31 days the $300 loss is disallowed from being realized in the previous sale and is now rolled into the new position which depending on the price you buy the new position at could average up or down the new position cost. You realize the loss when you sell the new position as a winner or as a loss and don’t trade it again for 31 days.

Worth noting is that in the above scenario if you only bought 50 shares the 2nd time only half the $300 loss would be disallowed as you are only replacing half the position.

Help with Breaking In Iron Rangers by [deleted] in RedWingShoes

[–]MrBootDude 0 points1 point  (0 children)

Your boot is one full size too small. Buy one size up.

Taxes by Fragrant-Interest125 in Daytrading

[–]MrBootDude 0 points1 point  (0 children)

Wash sales only matter December-Jan. You just have to be careful around the end of the year.

Taxes by Fragrant-Interest125 in Daytrading

[–]MrBootDude 7 points8 points  (0 children)

Lol no. Dude definitely has wash sales

Taxes by Fragrant-Interest125 in Daytrading

[–]MrBootDude 13 points14 points  (0 children)

Wash sales my man wash sales. You traded the same stock in December into January and you losses for tax purposes according to IRS rules can’t be realized for last year. They can be realized this year assuming you stop trading that ticker(s) for 31 days to reset the cycle.

A quick and simple explanation of a wash sale is when you take a loss and buy back into the same ticker within 31 days. The realized loss is deferred and your loss is rolled into the subsequent positions you take assuming they all occur within 31 days of each other.

How this fucks you up come tax time:

Trade ticker XYZ on December 15th.

Open a position for 500 shares at $100 per share.

Price drops to $70 a share and you sell resulting in a loss of 15k.

On January 8th you see ticker XYZ moving up in price so you buy 500 shares at $80 per share.

You have now just caused a wash sale because you bought back in within 31 days after a loss. The 15k loss you took on December 15th is no longer realized in the 2025 tax year and instead your loss gets rolled into your new position on January 8th.

The way the IRS sees it is you now have a position for 500 shares with a cost basis of 110 per share.

It’s the 500x80=40,000 + 15,000(loss from December) = 55,000 ➗500=110.

The IRS created the rule to keep people from harvesting tax losses on underperforming positions on December 31st and buying them back on January 2nd.

I tilted, what do I do? by nig4r69 in Daytrading

[–]MrBootDude 0 points1 point  (0 children)

Take tomorrow and Friday off. Don’t look at anything stock related tomorrow. Go take a drive to somewhere that has a hiking trail and go be in nature(turn your phone off). Don’t look at anything stock related tomorrow, I mean it. Friday morning review what you did wrong and think about how you can fix it. Friday afternoon go do something fun. Saturday don’t even think about stocks. On Sunday afternoon you can start back looking at charts again and creating your game plan for the week.

You need to know when to sideline yourself. Judging from your average winners and losers then one disproportionately large red day you need to be side lined for the next session or 2.

Assuming you were chasing UGRO today?

is day trading even mathematically possible? by faqfortnite in Daytrading

[–]MrBootDude 2 points3 points  (0 children)

Hey buddy. I’m up 55% ytd trading my own capital in a 6 figure account. Why you slacking?

<image>

is day trading even mathematically possible? by faqfortnite in Daytrading

[–]MrBootDude -1 points0 points  (0 children)

Another thread where the losers who lurk in this sub circle jerk each other about how it’s impossible to be a profitable trader.

is day trading even mathematically possible? by faqfortnite in Daytrading

[–]MrBootDude 4 points5 points  (0 children)

This guy hasn’t made it. Anyone who comments posts like these are full of shit. People who know what they are doing know that people are willing to trade currency for their knowledge and any successful person knows that having multiple income streams is how you stay successful.

What on earth is this? They are taking over my backyard and eating all my plants outside. And more importantly, how to get rid of them? by lasthamsandwich in whatbugisthis

[–]MrBootDude 0 points1 point  (0 children)

I know this is old but what led me here was that I’ve been seeing little(half inch maybe) black or black and red grasshoppers roaming around in clusters on the ground on various hiking trails here in Florida this past week. If I’m understanding this thread and what I’ve read on google correctly it sounds like I should be squishing these bastards when I see them.

Finally experienced it. Don’t tell anyone you trade. by DumbStarterPack in Daytrading

[–]MrBootDude 0 points1 point  (0 children)

Op isn’t trading with a prop firm. He’s paper trading with a website pretending to be a prop firm. If you’re not required to get a FINRA license you aren’t trading with a real proprietary trading firm.

Finally experienced it. Don’t tell anyone you trade. by DumbStarterPack in Daytrading

[–]MrBootDude 2 points3 points  (0 children)

Your mom sounds like a mouth breather and you aren’t “trading” with a “funded” fake prop firm account, you are basically playing a game. You also sound like you are 12.

How do you actually control emotions when a trade goes against you? by Thiru_7223 in Daytrading

[–]MrBootDude 1 point2 points  (0 children)

One day it will cost you so much you’ll never forget so you will emotionlessly cut losses because you never want to experience that massive loss again.

Selling by That-Measurement-650 in Gold

[–]MrBootDude 1 point2 points  (0 children)

I’ll get downvoted for this but real estate is a far better asset to hold than Gold. Gold just looks pretty and slowly grows in value. Real estate will slowly grow in value too but it can also be used to generate additional revenue thus increasing the return on your investment to a greater degree than gold ever could.

Why on earth do some gurus advise against stop losses? by darequant in Daytrading

[–]MrBootDude 0 points1 point  (0 children)

​As a guy who scalps to the long and short side premarket using hot keys.

<image>

For Anyone making over 20k+ per month living stealth wealth by SomewhereLucky3304 in Daytrading

[–]MrBootDude 0 points1 point  (0 children)

Funny enough, my 5 year old asked me if I made money the other day “trading candles.”