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  #31 (permalink)  
Old 01-13-2009, 05:37 AM
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breddy2000 is infamous around these parts breddy2000 is infamous around these parts breddy2000 is infamous around these parts breddy2000 is infamous around these parts breddy2000 is infamous around these parts breddy2000 is infamous around these parts breddy2000 is infamous around these parts breddy2000 is infamous around these parts breddy2000 is infamous around these parts breddy2000 is infamous around these parts breddy2000 is infamous around these parts
Default I'm in complete agreement

Quote:
Originally Posted by redgreen View Post
all the studies by economists, investment experts, psychologists, etc for the last several decades clearly showed that for 99% of the people day trading makes them lose all their money. it is highly addictive and on an average everbody loses their savings. legally it is another style of trading and there are no consequences whether you are on J1, H1B, on EAD or a citizen! (ofcourse if somebody knows which stock is going to be up/down and exactly when, he can make a lot of money (better call him a prophet than a day trader/pattern trader).
Guys, My personal opinion. Pls do not fall for these risky trading tactics. I'm in no way against trading, but cautioning you whole heartedly...and I have nothing against the original poster

In trading if you are able to beat the market with 10-20% consistency for 2-3years, the wall street banks will be at your door steps asking you to work for them with profit sharing and salary

Based on my experience of trading...

"Money is always an inch away from your finger tips, the more you run towards it , the further away it goes.... " and its a never ending story

The so called wall street is full of crooks/manipulators and what an ordinary investor thinks to be an excellent stock would be junk if the street does not favour it...How much ever you compare relative stocks with fundamentals, p/e, Financials statements, beta , volatility etc etc....

And the Buzz words for these kind of manipulations are " Shorting, Naked- Shorting, Rumor mongering, Insider Trading, Pre-after market trading"

I bet once you are in trading, you will have tremendous Mood Swings.

However if you want to understand what trading is all about , you can visit this trading education website . Its a nice set of videos about technicals.

http://www.youtube.com/user/InformedTrades?ob=1


Also if you would like to see what kind of patterns you would like to trade, then you can visit www.finviz.com

This site contains all the buy/sell signals like Double/multiple bottom, head and shoulders, wedge down, wedge up , double top etc etc.....

"Don't trade with money you can't afford to lose"

All the very best.
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Last edited by breddy2000; 01-13-2009 at 06:44 AM.
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  #32 (permalink)  
Old 01-13-2009, 11:24 AM
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chintu25 has a reputation beyond repute chintu25 has a reputation beyond repute chintu25 has a reputation beyond repute chintu25 has a reputation beyond repute chintu25 has a reputation beyond repute chintu25 has a reputation beyond repute chintu25 has a reputation beyond repute chintu25 has a reputation beyond repute chintu25 has a reputation beyond repute chintu25 has a reputation beyond repute chintu25 has a reputation beyond repute
Arrow

Quote:
Originally Posted by breddy2000 View Post
Guys, My personal opinion. Pls do not fall for these risky trading tactics. I'm in no way against trading, but cautioning you whole heartedly..............................

"..........................oney you can't afford to lose"

All the very best.


Thanks Breddy and Jazzbythebay for iterating and re-iterating the risk factor.
I have repeated that in almost all my posts earlier in this thread to not think of this as a "GET RICH QUICK"scheme ........

Anyways good job at scaring away people guys hehehe kidding

Let me go back to the start

I recommend this style of trading for entrepreneurial kinds only who have the fire and will to learn .

Its risky but it is fulfilling when done in the right way.

It is easy to loose your shirt if you are not disciplined and stick by the rules (More on how to build your rules later)

GREED is the one number one enemy of PDTs.

Overcome greed and you will love to trade....you will love to convert your loosing trades into winners.

I welcome comments from traditional traders as they serve as a filter as well.

To say the least ...my dad who has been an active investor for years is still against DT or short term trading since he is a traditional investor.

No doubt you will make money there too but its like planting a seed and watching it grow every minute .(In a good , long and boring way I think)

Thanks
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Last edited by chintu25; 01-13-2009 at 12:01 PM.
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  #33 (permalink)  
Old 01-13-2009, 11:33 AM
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Check out LIZ ,TARG ,TMS ....Running on Pre Markets

Added ...BLX
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  #34 (permalink)  
Old 01-13-2009, 11:39 AM
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some good blogs i have found usefull.

My suggestion is try to go for system trading development using index or stocks in sp500.

stockbee.blogspot.com
filteringwallstreet - this is discontinued but has good info -he has a simple plan of 4/8/21 ma crossover
ibankcoin.com -fly and woodshedder are good there

stocktwits - very good for day traders

elitetrader.com -forum for traders.
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  #35 (permalink)  
Old 01-13-2009, 11:52 AM
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- unless you have an account big enough to buy a mercedes SL500 , it is so not worth the time
- unless you can afford to lose $5k in a day, it not for you
- u can do ur taxes urself, no need for a tax consultant.. just use hrblock/ turbotax. make note of ur trades in a spreadsheet.
- day trading is fantastic.. ur immigration stress will take a backseat to the excitement (& shock!) you feel while doing it.
- now is not a good time to enter the market... will it go up? .. i don't know.. will it go down? .. i don't know. But the warning comes from volatility... it will shake you out.
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Last edited by hopefulgc; 01-13-2009 at 12:11 PM.
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  #36 (permalink)  
Old 01-13-2009, 12:01 PM
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Thumbs up

TARG ZGEN FCEL IOC BLX ELN CTDC LIZ MNKD FSIN TMS BPHX ATML ALVR YRCW SNTS GSAT RAD AVII FORSY


Check them out ......Only for today trades. Nice long opportunities.

READ READ READ
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  #37 (permalink)  
Old 01-13-2009, 12:03 PM
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Quote:
Originally Posted by hopefulgc View Post
- ........... ur immigration stress will take a backseat to the excitement (& shock!) you feel while doing it.

I say Stress BAHAR ...PAISA andar oops $ andar

not a good time to enter the market... will it go up? .. i don't know.. will it go down? .. i don't know. But the warning comes from volatility... it will shake you out.
Thanks HopefulGC
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  #38 (permalink)  
Old 01-13-2009, 12:21 PM
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chintu25,

I did not ask you to explain any thing to me. You needed to make a good argument on why this idea can channelize negative energy into positive and what are the risks involved. What can any one infer when you end your post with "Now lets play"? You might not have intended what it meant but it can mean different things to different people and I guess you would agree that there are people who think as I do about day trading. Please do not guess my knowledge of day trading and what it is limited to. Your initial post does not underscore the risks significantly. IMHO, Day trading fits a specific set of people who can not only handle the risk but also can handle the stress. Your feelings might be different. How ever, some one else pointed out the research done on day trading.

While I appreciate your noble intention to channelize the negative energy, the potential risk of getting a double whammy (immigration + stocks) needed to be underscored and I think did that. I will leave it there and do not want to take this discussion further on my opinions about day trading and it's nitty gritty.
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  #39 (permalink)  
Old 01-13-2009, 12:40 PM
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Quote:
Originally Posted by nixstor View Post
chintu25,

I did not ask you to explain any thing to me. You needed to make a good argument ..............hink did that. I will leave it there and do not want to take this discussion further on my opinions about day trading and it's nitty gritty.
Ouch Nix..... Relax

One of the important principals of trading longterm / day or swing is "DO NOT OVER THINK " Trader will loose all the rationale when his/her money is on the line.

DO NOT FALL IN LOVE WITH YOUR TRADES Get your profits and move out or cut your losses and move on.

MAKE A PLAN ...STICK TO IT


I will try to answer any questions that anyone may have. I can also give an overview of my trading strategy on my blog posts.

Please do check the blogs and leave comments too.

Thanks to Pappu for letting me do the blogs

Last but not the least ......If you like what you read ...Consider donating atleast $ 10 to IV today ......

Thanks and Lets Play
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  #40 (permalink)  
Old 01-13-2009, 12:48 PM
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What form does your brokerage firm send you at the end of the year? Is it a 1099-INT form that records your profits for the year? What if it were a loss. Do you still get a 1099-INT.

An H1B working for a single employer will have only one W-2 but he / she may have different 1099-INTs from savings accounts / trading firms etc for filing taxes. This should be ok, correct?
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  #41 (permalink)  
Old 01-13-2009, 12:58 PM
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Quote:
Originally Posted by gchopes View Post
What form does your brokerage firm send you at the end of the year? Is it a 1099-INT form that records your profits for the year? What if it were a loss. Do you still get a 1099-INT.

An H1B working for a single employer will have only one W-2 but he / she may have different 1099-INTs from savings accounts / trading firms etc for filing taxes. This should be ok, correct?

Investments are not reflected on W2. If you use a broker such as TDAmeritrade etc they will issue you a 1099

You will receive an IRS Consolidated Form 1099 - an all-inclusive document showing your reportable income and transactions for the entire tax year - if your brokerage account received at least $10 in either dividends, interest or original issue discount (OID) income, or had an equity sale, in the 2008 tax year.

- You will not receive a Consolidated Form 1099 for a retirement account, tax-exempt account, corporate account or foreign account.

- In addition, you may receive a corrected Consolidated Form 1099 if you held an investment trust that reclassified income after this form was sent to you.


There are 2 sets of rates.

1. Short Term Captial Gains
2. Long Term Capital Gains Taxes

Short term capital gains taxes are on stocks that have been held less than one year before selling.

Long time term capital gains taxes are on stocks that have been held more than one year before selling.

Long term capital gains taxes are less than short term capital gains taxes.

If you don't sell the stock, there is no tax on the capital gains.

The amount of tax depends your tax bracket.

The taxes on dividends are usually less than short term capital gains tax. So if you have a stock that is about to pay a dividend, get the dividend before selling, as that will reduce your capital gains.

Hope this helps
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  #42 (permalink)  
Old 01-13-2009, 02:33 PM
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Thanks. That does help a lot. Once we receive the consolidated 1099 we complete the Schedule D (and D1 if there are more transactions than what can fit on Schedule D) and report the capital gains on the 1040. Correct?
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  #43 (permalink)  
Old 01-13-2009, 03:17 PM
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Quote:
Originally Posted by chintu25 View Post
TARG ZGEN FCEL IOC BLX ELN CTDC LIZ MNKD FSIN TMS BPHX ATML ALVR YRCW SNTS GSAT RAD AVII FORSY


Check them out ......Only for today trades. Nice long opportunities.

READ READ READ



Can you post your trading log from last few trading days for us to see ?
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  #44 (permalink)  
Old 01-13-2009, 03:53 PM
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ImmiLosers is a jewel in the rough ImmiLosers is a jewel in the rough ImmiLosers is a jewel in the rough
Default

Quote:
Originally Posted by chintu25 View Post
TARG ZGEN FCEL IOC BLX ELN CTDC LIZ MNKD FSIN TMS BPHX ATML ALVR YRCW SNTS GSAT RAD AVII FORSY


Check them out ......Only for today trades. Nice long opportunities.

READ READ READ
Chintuji,

How do you analyze it?
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  #45 (permalink)  
Old 01-13-2009, 03:54 PM
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GC_Applicant is a jewel in the rough GC_Applicant is a jewel in the rough GC_Applicant is a jewel in the rough
Default Can you let me know the URL for your blogs.

>>Please do check the blogs and leave comments too.

Can you let me know the URL for your blogs.

Thanks
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