For those who have been following my "trading succ
Post# of 4930
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Posted On: 10/07/2019 7:00:52 PM
For those who have been following my "trading successfully through a reverse split" strategy on a number of stocks over the past 18 months, ECOX is a relatively easy one for me as I was already on "free shares" based on previous banked profits on it from 2016 > 2018.
However, the name of the game remains the same.
- Making relatively large additional profits much more easily on thin surges to the upside - frequency irrelevant - certainly far more easily than when it was stuck at .0004 x .0005 just before the r/s.
- Knowing the real cost basis of all the pre-r/s legacy shares and either waiting for each individual lot to go into a conservative profit before selling or trade for a long-term tax loss later once you have all the cheaper shares you need to continue trading without incurring a "wash sale".
You will incur a "wash sale" - and the tax loss will be disallowed - unless you:
- Do not sell for a loss until 30 days have elapsed since you last bought cheaper shares than the ones you intend to sell for a loss.
- After you sell for a loss, do not buy anymore - at any price - above or below - for a further 30 days.
- So in the case of ECOX, you need to have enough cheapies bought in the .1000 > .3000 range to last for 60 days of trading in the .1000 > .6000 gap before you think of selling any pre-r/s from above .6000 for a loss.
Currently, I don't need to sell any of my pre-r/s shares as:
- I'm already keeping my long-term gains at zero by balancing with other long-term losses of other stocks I don't want to keep.
- I do believe that in any case I will eventually get a profit on all the pre-r/s shares - once we start getting PRs.
The above method is even more successful on any stocks that you have short-term pre-r/s shares on as well as it represents a 33% or even 35% saving for top traders who have a tax bill in $6-figures.
You should also have been able to more than make up for the net loss - which freed up capital and reduced the tax bill - with the additional profits earned trading intensively from the bottom up.
Keeping detailed additional records allows you to know exactly what a particular stock has earned you over multiple years - and / or owes you.
However, the name of the game remains the same.
- Making relatively large additional profits much more easily on thin surges to the upside - frequency irrelevant - certainly far more easily than when it was stuck at .0004 x .0005 just before the r/s.
- Knowing the real cost basis of all the pre-r/s legacy shares and either waiting for each individual lot to go into a conservative profit before selling or trade for a long-term tax loss later once you have all the cheaper shares you need to continue trading without incurring a "wash sale".
You will incur a "wash sale" - and the tax loss will be disallowed - unless you:
- Do not sell for a loss until 30 days have elapsed since you last bought cheaper shares than the ones you intend to sell for a loss.
- After you sell for a loss, do not buy anymore - at any price - above or below - for a further 30 days.
- So in the case of ECOX, you need to have enough cheapies bought in the .1000 > .3000 range to last for 60 days of trading in the .1000 > .6000 gap before you think of selling any pre-r/s from above .6000 for a loss.
Currently, I don't need to sell any of my pre-r/s shares as:
- I'm already keeping my long-term gains at zero by balancing with other long-term losses of other stocks I don't want to keep.
- I do believe that in any case I will eventually get a profit on all the pre-r/s shares - once we start getting PRs.
The above method is even more successful on any stocks that you have short-term pre-r/s shares on as well as it represents a 33% or even 35% saving for top traders who have a tax bill in $6-figures.
You should also have been able to more than make up for the net loss - which freed up capital and reduced the tax bill - with the additional profits earned trading intensively from the bottom up.
Keeping detailed additional records allows you to know exactly what a particular stock has earned you over multiple years - and / or owes you.
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"Per Ardua Ad Astra" - "Through Adversity To The Stars"
A very apposite motto for those who trade successfully in the OTC market..
All posts are my opinion - trade at your own risk.
A very apposite motto for those who trade successfully in the OTC market..
All posts are my opinion - trade at your own risk.
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