Wash Sale Rule Reminder. My method of successfu
Post# of 4911
My method of successfully trading after a reverse split.
Wait more than 30 days after buying shares at a price that is cheaper than the cost basis of any shares that you might want to sell.
That is 30 days after August 28 for those that were savvy enough to buy .0001s or the date upon which you buy "new shares" going forward.
After making any sale to get a tax loss, you must wait 30 days before buying any of the stock at any price, otherwise the tax loss will be disallowed.
Hence why it is important to have a decent amount of shares at the bottom price to trade so that you don't miss out on runs which occur during the 60 days.
The relatively small amount of shares held at the higher prices earn significant tax savings - at the rate of 35%/38% short term for whale traders earning multiple $6-figures - and 15%/20% long term. With DIGXD there are still several months - in both FY2018 and FY2019 when shares will qualify as short term (held for less than 1 year) - so there is no need to sell early.
In addition, with the stock so thin to the upside with very little held at the .2 and .3 cost basis levels, it is very probable there will be significant trading opportunities on runs before shares turn from short term to long term in about 11 months time.
Currently, I don't plan to sell any shares for a loss in 2018 - I'm going to give the new company the chance to PR what it"s all about and I can always change my mind before mid-2019.
I will be trading continuously from the bottom up on surges earning profits whenever the opportunity arises buying at any price that makes sense to me - bearing in mind I already have the .1s to trade in the range up to .4.
This should not be considered financial advice - it's just what I do but it's an easy decision for me with banked profits on DIGX being almost twice the cost basis of my current holding.
Eco Innovation Group Inc (ECOX) Stock Research Links
A very apposite motto for those who trade successfully in the OTC market..
All posts are my opinion - trade at your own risk.