FYI, if you are calculating ROI, you can't simply sum up the ROI's of individual trades.A1Stocktrader wrote:wow, that was fun, held my overnight hod x $3.84, sold it today at the open for $3.92, went nicely with my hnd lucky trade yesterday $3.52 / $3.59, good for a +3.967 % roi in less than 24 hours.
The Daytrading & Swingtrading Thread
Re: The Daytrading & Swingtrading Thread
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Re: The Daytrading & Swingtrading Thread
huh, cost vs sell = roi regardless if individual or total, the above it total for the two trades. glta.Dudsy wrote:FYI, if you are calculating ROI, you can't simply sum up the ROI's of individual trades.A1Stocktrader wrote:wow, that was fun, held my overnight hod x $3.84, sold it today at the open for $3.92, went nicely with my hnd lucky trade yesterday $3.52 / $3.59, good for a +3.967 % roi in less than 24 hours.
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Re: The Daytrading & Swingtrading Thread
I think it does matter whether it's individual or total.A1Stocktrader wrote:huh, cost vs sell = roi regardless if individual or total, the above it total for the two trades. glta.
If you make a bunch of trades and want an ROI you can't just add the ROI from each investment.
An example.
I make two investments and close them out at the end of the day.
I first invest $100 and make $5. My ROI is 5% for that trade. No problem there.
Then I invest $1000 and make $5. My ROI is 0.5% for that trade. No problem there.
If you add the ROI for the two trades, you would get 5.5% ROI for the day, but that's incorrect.
The actual ROI is 0.91% for the day.
The simple formula is :
ROI = (Net Profit / Cost of Investment) x 100
So ($10 / $1100) x 100 = 0.0909% ROI
I'm sure you know this though.
ltr
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Re: The Daytrading & Swingtrading Thread
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Last edited by A1Stocktrader on 07 Sep 2013 14:50, edited 1 time in total.
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Re: The Daytrading & Swingtrading Thread
Reporting for August 14, A1StockTrader wrote:+13.45%
Reporting for August 15, A1StockTrader wrote:+5.5%
Reporting for August 20, A1StockTrader wrote:+3.886%
Reporting for August 21, A1StockTrader wrote:+2.403%
Reporting for August 28, A1StockTrader wrote:+4.59%
Reporting for August 29, A1StockTrader wrote:+4.317%
That tapes out to +44.7% in the month of August. Of course, there are gap days, but maybe you were on vacation or in cash or just forgot to report. Can you show any evidence that your account increased in value by anything like that in the month of August?Reporting for August 30, A1StockTrader wrote:+4.18%
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Re: The Daytrading & Swingtrading Thread
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Re: The Daytrading & Swingtrading Thread
Extraordinary claims require extraordinary evidence. Unverifiable numbers are not evidence, never mind extraordinary evidence.A1Stocktrader wrote:end of conversation, thank you.
That won't be the only thing ignored.Anymore such questions will be ignored.
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Re: The Daytrading & Swingtrading Thread
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Last edited by A1Stocktrader on 07 Sep 2013 14:51, edited 1 time in total.
Re: The Daytrading & Swingtrading Thread
A1stocktrader, you know better than that! By answering in such a way you are discrediting yourself!! (Though I have not been posting, it does not mean that I have not been watching )A1Stocktrader wrote:Norbert, you know better than that, such is between my Chartered Accountant and I, end of conversation, thank you.
I do not day trade. However, I was under the impression that day trading was considered a business and therefore all gains are fully taxed (i.e. gains are not considered capital gains and therefore not eligible for favorable tax treatment).
I am more interested in how you are faring longer term. My 1 yr, 3 yr, 5 yr, and 10 yr IRR are 8%, 7.5%, 4.5%, and 7.5% respectively. How are you doing?
StuBee
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Re: The Daytrading & Swingtrading Thread
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Re: The Daytrading & Swingtrading Thread
Interesting, I was also under the impression that gains from day trading were treated as income and not capital gains, and so claiming a tax advantage was disallowed.A1Stocktrader wrote:I know better, I trade only long / short on margin, all good, pay my taxes based upon only 50 % of capital gains, love it,
It's spelled out fairly clear on the TaxTips web site here.
How are you able to sidestep this tax rule as you're clearly a daytrader?
ltr
Re: The Daytrading & Swingtrading Thread
I am doing fine! Thank you very much for asking.
Though my ROI's are not impressive, they are getting me where I want to go. Afterall, when all is said and done it is only the purpose of the thing (what Aristotle called the "final cause") that really counts. I doubt that daytrading would get me to that place. I also doubt that it can get anyone to that place. Though unlikely, I hope (for your sake) that you are an exception. Unfortunately, your vagueness prevents me from taking your claims seriously. At the same time, I realize that this is a daytrading thread and that no one here has an obligation to demonstrate credibility.
I would advise you in future to keep a careful score of your IRR taking into account new money in as well as any withdrawals. You may be surprised what you find out when you learn exactly how you are doing.
Mind you, anything is possible and perhaps you really are "wildly" beating the market. But, up until now, I have no real reason to believe so. At least you are having fun!
Good luck!
StuBee
Though my ROI's are not impressive, they are getting me where I want to go. Afterall, when all is said and done it is only the purpose of the thing (what Aristotle called the "final cause") that really counts. I doubt that daytrading would get me to that place. I also doubt that it can get anyone to that place. Though unlikely, I hope (for your sake) that you are an exception. Unfortunately, your vagueness prevents me from taking your claims seriously. At the same time, I realize that this is a daytrading thread and that no one here has an obligation to demonstrate credibility.
I would advise you in future to keep a careful score of your IRR taking into account new money in as well as any withdrawals. You may be surprised what you find out when you learn exactly how you are doing.
Mind you, anything is possible and perhaps you really are "wildly" beating the market. But, up until now, I have no real reason to believe so. At least you are having fun!
Good luck!
StuBee
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Re: The Daytrading & Swingtrading Thread
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Last edited by A1Stocktrader on 07 Sep 2013 14:52, edited 1 time in total.
Re: The Daytrading & Swingtrading Thread
Framing this for posterity.A1Stocktrader wrote:with that, no point posting here.
finiki, the Canadian financial wiki
“It doesn't matter how beautiful your theory is, it doesn't matter how smart you are. If it doesn't agree with experiment, it's wrong.” [Richard P. Feynman, Nobel prize winner]
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Re: The Daytrading & Swingtrading Thread
You do that Adrian, I have read many of your posts, many of which carry zero substance, many are condescending ignorance in nature and full of pompous assumptions on your part, good grief, pity it is that you have nothing positive to contribute to this forum, what a wast of time and broadband for all, including yourself.
Last edited by A1Stocktrader on 07 Sep 2013 14:58, edited 2 times in total.
Re: The Daytrading & Swingtrading Thread
You have this illusion that if you pay a CA he can wave a wand and make your taxes smaller.A1Stocktrader wrote:My advice is get a Chartered Accountant to look after all of your year end paper work and taxes
If CRA finds out that you have been day trading, they will reassess you for more taxes and penalties, and your beloved CA will wash his hands by pointing out that it is your responsibility for whatever information you provide and all he did was a compilation of the data given by you.
If you're evading taxes, after all the warnings you were given, at least have the common sense and lay low, not boast every day about how much money you're making.
finiki, the Canadian financial wiki
“It doesn't matter how beautiful your theory is, it doesn't matter how smart you are. If it doesn't agree with experiment, it's wrong.” [Richard P. Feynman, Nobel prize winner]
“It doesn't matter how beautiful your theory is, it doesn't matter how smart you are. If it doesn't agree with experiment, it's wrong.” [Richard P. Feynman, Nobel prize winner]
Re: The Daytrading & Swingtrading Thread
My experience has been that the CA will err on the side of caution. Mine warned me that I should not trade as often as it might throw up a red flag to the CRA.adrian2 wrote:You have this illusion that if you pay a CA he can wave a wand and make your taxes smaller.A1Stocktrader wrote:My advice is get a Chartered Accountant to look after all of your year end paper work and taxes
If CRA finds out that you have been day trading, they will reassess you for more taxes and penalties, and your beloved CA will wash his hands by pointing out that it is your responsibility for whatever information you provide and all he did was a compilation of the data given by you.
If you're evading taxes, after all the warnings you were given, at least have the common sense and lay low, not boast every day about how much money you're making.
Adrian you trade daily how do you handle this situation? There is an election you can take I believe.
"And the days that I keep my gratitude higher than my expectations, well, I have really good days" RW Hubbard
Re: The Daytrading & Swingtrading Thread
Good Heavens!!!
Did A1stocktrader self-destruct???
He seems to have edited himself into oblivion...
Did A1stocktrader self-destruct???
He seems to have edited himself into oblivion...
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Re: The Daytrading & Swingtrading Thread
Several of A1Stocktrader's posts from the past few days have been removed. He removed several of his Friday posts for reasons unknown to us, and a moderator removed two posts made Saturday which attacked forum members and violated forum rules. This type of behaviour will not be tolerated at the forum. Have a great day, all! - Moderator M
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Re: The Daytrading & Swingtrading Thread
I did take that election, correct.deaddog wrote:Adrian you trade daily how do you handle this situation? There is an election you can take I believe.
finiki, the Canadian financial wiki
“It doesn't matter how beautiful your theory is, it doesn't matter how smart you are. If it doesn't agree with experiment, it's wrong.” [Richard P. Feynman, Nobel prize winner]
“It doesn't matter how beautiful your theory is, it doesn't matter how smart you are. If it doesn't agree with experiment, it's wrong.” [Richard P. Feynman, Nobel prize winner]
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Re: The Daytrading & Swingtrading Thread
How often is too often?Mine warned me that I should not trade as often as it might throw up a red flag to the CRA.
Re: The Daytrading & Swingtrading Thread
I was making at least one round trip a day.
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Re: The Daytrading & Swingtrading Thread
So 300+ or so trades / year will attract the Evil Eye of Mordor, you figure?I was making at least one round trip a day.
How about 50 trades a year?
Re: The Daytrading & Swingtrading Thread
I don't know. One a week isn't all that many day trades.JaydoubleU wrote:
So 300+ or so trades / year will attract the Evil Eye of Mordor, you figure?
How about 50 trades a year?
There are advantages to both claiming as income and capital gains.
Most of my day trades now are swing trades that went against me right off the bat. I'm taking the small loss and I'm certainly not generating any income.
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Re: The Daytrading & Swingtrading Thread
Doesn't he just have to file the election form to ensure that his daytrading is counted as capital gains/losses?You have this illusion that if you pay a CA he can wave a wand and make your taxes smaller.
If CRA finds out that you have been day trading, they will reassess you for more taxes and penalties, and your beloved CA will wash his hands by pointing out that it is your responsibility for whatever information you provide and all he did was a compilation of the data given by you.
Research until your head hurts then scream Banzai!!! and charge fearlessly to victory or death!