IslandWarrior

Hey@jollar! How are you? Long time...I wanted to check in with you and see how you're doing. I was out of the loop for a bit but I think this time I'm going of it and start trading. I wanted to ask you if you know of any resources or website that would help me understand how to pay my taxes when trading. Do you have any clue. For example: If I made $100 on one trade, do I pay taxes for that i.e. 47%? Thank you in advance and I look forward to hearing from you.

jollar
1
jollar May 11, 15 12:50 AM

Hey bro long time no hear. Good luck with your trading! The main thing is to detach your emotions from every trade. Make a plan and stick to it. If it fails, cut it. Simple as that. Being emotional is where the losses pile up. I've had a lot of them because of that reason. Anyway, as for taxes... I just import all my trades through Turbo Tax and let the software sort all that out for me. Tax rates may be different depending on your income level. So yeah... choose a broker that Turbo Ta

jollar
1
jollar May 11, 15 12:52 AM

... tax will import automatically. Suretrader is definitely not a broker to use if you want to auto import.

IslandWarrior
IslandWarrior May 15, 15 2:36 PM

Hey Bro! Thanx for the message! Sorry to hear about your losses, but you're still doing awesome bro...I mean you're doing it taking risks and learning along the way. So that is priceless! I'm glad we stayed in touch. You've been very helpful and supportive with me and my trading. Re: the taxes, I have a small account, so I'm starting out with Suretrader, unless you know of another broker that accepts smaller accounts? So yeah, I guess I'll just do it manually for now and then when I grow my acco

IslandWarrior
1
IslandWarrior May 15, 15 2:37 PM

...unt, I could move it to a better broker like yours. Anyway, I'm funding my account this month and giving it a shot! I'll keep you posted :) Thanx again @jollar

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jollar

@jollar just created a Lookback video

IslandWarrior
1
IslandWarrior Sep 17, 14 4:49 PM

Great job!! Ur on ur way to accomplishing ur dreams :)

jollar
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jollar Sep 18, 14 1:09 AM

thanks man... how's your trading going?

IslandWarrior
IslandWarrior Sep 20, 14 7:30 PM

Hey bro! glad to hear from you. I finally got my account approved by ST and saving to fund it. It's been a couple of months of studying since we last talked. I think I'm a lot more confident than I first talked to you. Thanx for your help. Your profit chart is looking great! Lots of greens :)

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IslandWarrior
IslandWarrior Jun 29, 14 1:05 AM

Hey yeah! I was very happy to see you're doing very well!! All greens UP! That's awesome!! Paper Trading is going well. I still have to polish up some tweaks here and there but I'm pretty confident compared to a month ago. I'm still studying and watching Tim's Video lessons as he sends them out daily. I need to be more patient and be able to do like a "sniper" as Tim says and not get greedy and not disciplined.

Kurdman
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Kurdman Jul 08, 14 4:17 AM

Hey Jollar - well done!! I have just joined as a challenge student and am loving the learning. It is huge confidence builder to seer other students doing well. Cheers.

jollar
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jollar Jul 09, 14 12:52 AM

Thanks Kurdman, welcome to the challenge. After I watched all the DVDs my trading improved significantly. Really, all the answers to peoples questions have already been addressed in some DVD.

Kurdman
Kurdman Jul 09, 14 1:51 AM

Thanks for the encouragement. My DVD set should arrive today then it's full time Penny Stock university!!

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IslandWarrior

@jollar @jollar I have been practicing last week and I lost $400 dollars my first day which I was happy about cuz I don't want to be over confident and be foolish. then the days after, I started to be better and averaged $200-$300 every morning. But off course, this is fake money...LOL So we'll see. I also signed up for sure trader and the app process keeps telling me "String was not recognized as a valid DateTime." So I'm not sure what this mean. Do you know by any chance?

jollar
jollar Jun 07, 14 8:46 PM

@IslandWarrior I would speak to ST's customer service. They're very responsive via chat especially during the weekdays. Live chat with them on Monday about that.

IslandWarrior
IslandWarrior Jun 08, 14 2:03 PM

Hey Thank you very much for the info! I will check with them on monday. I did send in a ticket for the problem since it's the weekend and office is closed. Thanx again for your help.

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IslandWarrior

Hey @jollar I hope you're having a great weekend so far! I wanted to thank you for your recommendations on starting with TD Ameritrade. I have been using the thinkorswim that you told me and I've been learning so much. I'm so glad I started there before investing and loosing money. I know you've saved me thousands of dollars by failing and learning with paper money. Just the platform alone is much to learn from. The timing and numbers and selling and buying are all requiring timely executions. So Thank you very much.

jollar
jollar Jun 07, 14 8:44 PM

@IslandWarrior Glad to hear you're doing good paper trading! The best thing is to make consistent correct predictions and build that confidence. TOS has an Ondemand feature that lets you view past trading days like it was real time. So "trading" on a weekend becomes possibility. VERY helpful learning tool.

IslandWarrior
IslandWarrior Jun 08, 14 2:14 PM

Thank you! I couldn't have done it without you Sir! When I make my first million, you're one of my vip guests :) Also, what is TOS? Sorry I'm very new to this but I do wanna try that? Oh and does ST have a simulation like TDAmeritrade? Since I will have a small account, I wanted to practice using ST platform. Thanx again and hope you're having a great weekend!

jollar
jollar Jun 08, 14 3:24 PM

TOS = ThinkorSwim. Unfortunately ST does not have this feature.

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jollar

FXEN on 4/15. SARA on 6/3. any resemblance?

IslandWarrior
IslandWarrior Jun 08, 14 2:15 PM

nice I kept seeing SARA looking like this. I kept watching it and looked like it wasn't going anywhere.

jollar
jollar Jun 08, 14 2:56 PM

Exactly. The volume has died down considerably since it's first up day. Careful with this one. No volume interest means this could go lower. No play now until it breaks $2.40.

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jollar

@jollar welcomes you to their trader wall!

IslandWarrior
IslandWarrior May 31, 14 2:35 PM

@jollar oh I see...I guess I'll try again later tonight or tomorrow...I was just hoping to finish my app so I could jump in on Monday...but it's ok...no rush..Thanx for the heads up...Hope you're enjoying your weekend :)

jollar
jollar May 31, 14 10:02 PM

@IslandWarrior If you're completely new to this. I would recommend that you paper trade with TDAmeritrade. Their ThinkorSwim platform allows you to use realtime feed and paper money to trade. So, you can make these trades without losing any real money. Try that for at least a month before committing real $. You can lose real money fast and it'll hurt your learning path.

IslandWarrior
IslandWarrior Jun 01, 14 4:23 AM

@jollar Thank you for the advice. I have been studying Tim's videos and for about 5 months now and I finally subscribed to his newsletter 2 months ago. However, I think I will take your advice and trade paper for a while until I feel comfortable. That should put me in a better position to analyze and pick good trades and get familiar with the whole transaction operation. Thanx again for the tip cuz you're right. I don't want to hurt my learning by being bitter. I have seen tons of people that ha

IslandWarrior
IslandWarrior Jun 01, 14 4:24 AM

happening to traders trading blindly and investing tons of money....

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