Reminder of how to avoid "wash sales" which would result in tax savings on losses deliberately taken being disallowed:
Worked example for $OTTV:
Buy sufficient shares at multiple low price points in the .0030 > .0100 range so that you have a sufficient inventory of shares to trade in the .0100 to .0200 range (and of course higher if required by trading sparingly and stretching out each small batch) for 60 days.
You must not have bought any shares at cheaper prices than the ones you intend to sell for a loss and tax benefit within the last 30 days.
After 30 days, sell much higher price shares as desired for short term and / or long term losses (I won't be doing any in 2019 but I did in 2018 on the pre-r/s cost basis shares that I didn't see getting to profit by the end of their 12-month short term basis).
You must not buy any more at any price until 30 days have elapsed since the last tax loss sale.
You can continue to sell any of the cheap cost basis shares for a profit throughout the 60 days.
Net banked profit on $OTTV now approaching $6-figures - mostly while only holding 2M > 3M shares in the trading inventory throughout 2019.
Tips:
- Never be without shares in each .0010 > .0020 tick band to be ready for surges of .0050 to .0100.
- Never be scared to hit the ask to ensure you have some in each band.
- Set buys above the small 10K / 20K ask hold back attempts from shorts trying to cover - especially if you see them move up regularly - to grab a decent amount you can see is easy to get then relax and continue to trade others whilst waiting for the next big surge up.
- In addition, outbid MMs that look there are trying to collect shares sold for a loss by those duped by nonsense or fake "intimidation" walls.
Worked example for $OTTV:
Buy sufficient shares at multiple low price points in the .0030 > .0100 range so that you have a sufficient inventory of shares to trade in the .0100 to .0200 range (and of course higher if required by trading sparingly and stretching out each small batch) for 60 days.
You must not have bought any shares at cheaper prices than the ones you intend to sell for a loss and tax benefit within the last 30 days.
After 30 days, sell much higher price shares as desired for short term and / or long term losses (I won't be doing any in 2019 but I did in 2018 on the pre-r/s cost basis shares that I didn't see getting to profit by the end of their 12-month short term basis).
You must not buy any more at any price until 30 days have elapsed since the last tax loss sale.
You can continue to sell any of the cheap cost basis shares for a profit throughout the 60 days.
Net banked profit on $OTTV now approaching $6-figures - mostly while only holding 2M > 3M shares in the trading inventory throughout 2019.
Tips:
- Never be without shares in each .0010 > .0020 tick band to be ready for surges of .0050 to .0100.
- Never be scared to hit the ask to ensure you have some in each band.
- Set buys above the small 10K / 20K ask hold back attempts from shorts trying to cover - especially if you see them move up regularly - to grab a decent amount you can see is easy to get then relax and continue to trade others whilst waiting for the next big surge up.
- In addition, outbid MMs that look there are trying to collect shares sold for a loss by those duped by nonsense or fake "intimidation" walls.
Viva Entertainment Group, Inc. (OTTV) Stock Research Links
"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.
