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If you're doing it for sh*t and giggles and want to learn about the process, limit yourself to some amount of money you're comfortable losing and roll with that.
But if you're doing this for your pension portfolio, let the professionals do it for you. I pay what seems like a small fortune every year to my bank to do it, but ultimately it pays for itself, and then some. OTOH, right now we're seeing exceptional circumstances, and I've lost quite a bit from the peak where it was in mid-January. But they're managing it for the long haul. Despite the loss, I told them just a week or two ago to go ahead and take a part of what was still sitting in my checking account and invest it, in the hope to catch the rebound. It's already gained back that much since.
Another consideration: Taxes. I hope you either have a good accountant, or you're provided with all the numbers you'll need to do it correctly. Otherwise you'll need to start reading your local tax laws.
limit yourself to some amount of money you're comfortable losing and roll with that.
Always, even when not doing it for sh*t and giggles
Another consideration: Taxes.
Hadn't considered that yet.
I think it's all property tax, but I'm not sure.
I can't declare any losses, so it's only fair they shouldn't tax any winnings.
Unfortunately, taxes aren't always fair...
I'll find out when I have to do my taxes next year
The sock trading business has been booming!
Sport socks, ankle socks, knee high socks, especially thigh high socks are in demand!
Socks with funny patterns fetch a good price as well.
Just make sure your socks are not too slippery, if someone slips and hurts themselves you could lose all your profits just like that!
Welcome to the world of investing! Invest wisely and beware of "hot stock tips". Dollar (use your local currency) cost averaging and mechanical, unemotional investing can reap rewards. Ping me directly if you want to discuss investment strategies. Would be happy to share my successes (and many failures!).
To quote my wise grandfather, "A stock that doesn't pay a dividend isn't worth a damn."
If you are happy with the company's dividend and are confident the dividend is secure (some of them won't be now) then you can sleep comfortably if the stock price falls. Now you are an investor, not a day trader. Most day traders have ended up losing money unless they are trading with someone else's money, in which case they make money no matter which way the market goes. If you are a day trader with (another) full time job you don't have time to do both well.
I'm guessing that like in the US, most countries have two ways of determining capital gains: short term and long term. In the US short term gains are those that are less than one year, they are taxed at a higher rate than those that are held for one year and 1 day.
I don't need no doctor, no, no
'Cause I know what's ailing me
I've been too long
Away from my baby, ah
I'm coming down with a misery
(I don't need no doctor)
(I don't need no doctor)
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