Sorry I'm just now getting back to you, but as you were probably aware, I've been very busy with other projects.
If all I had were $6k, then I would first open a PRACTICE trading account and work that for a few months to get used to trading. Then I would put $2k into a trading account and learn to trade using real money, which will stir up all kinds of emotions that I would have to learn to control.
I would try to slam dunk the principles of money management per trade and discipline. I'd learn to set targets for exit and stop losses.
As for my $2k - $100k thread, I did that on another forum with the intention of advertising for my training DVD's, but they rejected my request so I decided to set up a couple of avenues for my own advertising. That thread was using mainly options, but I haven't finished the options DVD yet so I decided to make a new thread trading just stocks so that people who follow my DVD can see why I trade the stock, since options are a totally different animal.
I haven't had much time to trade live and post trades, but I'll try to get the spreadsheet up that I have to when I stopped posting as much.
Taxes are taxes...if at the end of the year, you make a cumulative gain, then you pay capital gains tax based on the profit and according to your income tax bracket. If you have a loss for the year then you can only write off $3k per year. So if I pay a large tax sum for capital gains, then that means that I made a large profit so better for me in the end.
As for making a lot of money quick...Weeeellll, I will tell you that you have to lose that mentality in order to be successful in trading. Greed will kill you. I got to where I am through years of great losses and hard lessons learned from being greedy. If I make $200 a day I'm very happy. Some days I make more...some days I take a loss.
I paid over $30k for my education and I wouldn't recommend anything other than what I've put together b/c frankly most stuff just costs too much for what they teach. Sure you may find some books or things out there but a lot of them are 'hard reads' and I didn't enjoy them. A video tutorial is the best learning tool.
I sent you a PM by the way. Good luck.
|