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Want to Learn More ❓❓ Get info on My Strategy and Courses here: https://www.warriortrading.com/strategy/ 📈
Before we continue...👀
💰Remember, day trading is risky and most traders lose money. You should never trade with money you can’t afford to lose. Prove profitability in a simulator before trading with real money.
💪My results are not typical. Do not mirror trade me, or anyone else. Mirror trading is extremely risky https://www.warriortrading.com/why-mirror-trading-is-a-bad-idea/.
🍏 All of the content on our channel is for educational purposes only. No data, content, or information provided by Warrior Trading, the Site, or the other products and services of Warrior Trading, is intended, and shall not constitute or be construed as, advice or any recommendation to buy, sell or hold a particular security or pursue any particular investment strategy.
✔️If you don’t agree with those terms and our full disclaimer (https://www.warriortrading.com/disclaimer), you should not continue watching our videos.
Still with me?
Now let’s dig into some helpful information …
What’s my story? ✏️ You can read it here: https://www.warriortrading.com/ross-cameron/
And check out my broker statements here 📝 https://www.warriortrading.com/ross-camerons-verified-day-trading-earnings/
Our website is filled with free info 🔎 Start with this guide, no opt-in required: https://www.warriortrading.com/day-trading/
Learn about my stock selection process, how I determine entries/exits, my strategy, and more in my free class 💻 Register here: https://www.warriortrading.com/free-day-trading-class/
0:00 Intro
00:28 Short term vs long term capital gains
3:23 Wash Sales
6:55 Mark to Market Accounting
12:18 Tax free vs tax deferred
15:33 Closing
#daytrading #warriortrading #rosscameron #stocks #learntotrade
Warrior Trading // Ross Cameron // Day Trade Warrior
Want to Learn More ❓❓ Get info on My Strategy and Courses here: https://www.warriortrading.com/strategy/ 📈
Before we continue...👀
💰Remember, day trading is risky and most traders lose money. You should never trade with money you can’t afford to lose. Prove profitability in a simulator before trading with real money.
💪My results are not typical. Do not mirror trade me, or anyone else. Mirror trading is extremely risky https://www.warriortrading.com/why-mirror-trading-is-a-bad-idea/.
🍏 All of the content on our channel is for educational purposes only. No data, content, or information provided by Warrior Trading, the Site, or the other products and services of Warrior Trading, is intended, and shall not constitute or be construed as, advice or any recommendation to buy, sell or hold a particular security or pursue any particular investment strategy.
✔️If you don’t agree with those terms and our full disclaimer (https://www.warriortrading.com/disclaimer), you should not continue watching our videos.
Still with me?
Now let’s dig into some helpful information …
What’s my story? ✏️ You can read it here: https://www.warriortrading.com/ross-cameron/
And check out my broker statements here 📝 https://www.warriortrading.com/ross-camerons-verified-day-trading-earnings/
Our website is filled with free info 🔎 Start with this guide, no opt-in required: https://www.warriortrading.com/day-trading/
Learn about my stock selection process, how I determine entries/exits, my strategy, and more in my free class 💻 Register here: https://www.warriortrading.com/free-day-trading-class/
0:00 Intro
00:28 Short term vs long term capital gains
3:23 Wash Sales
6:55 Mark to Market Accounting
12:18 Tax free vs tax deferred
15:33 Closing
#daytrading #warriortrading #rosscameron #stocks #learntotrade
Warrior Trading // Ross Cameron // Day Trade Warrior
Important video! Last Friday, I purchased some stocks during market hours at $1.05. It showed up the same value before market closed. When I open my account next morning (Saturday) I followed that the purchased value is changed to $1.27 per share. I spoke to the broker about it. They said, it happened because of wash sale. I am suspicious about the price change during market closed hours. My question is that if it is for wash sale why they allowed me to buy at market value $1.05 and after that they changed value in off market? The price difference seems to be very high too. If any advice please share.
Day Trading beginner under 25k account and wash sale rule. My question is this, let’s say I execute 3 round trips on the same stock within the rolling 5 days, as a new day trader, the brokerage is going to add my losses to the next trade per share since I didn’t wait the mandatory time Frame. Is have a Mark to Market account the way to avoid this?
I ask because what if I were to execute a trade based on the movement of 10 cents per share and the wash sale rule prevents my cover for the position I want to enter at?
Not sure if I explained my concern of the wash sale for day trading the same securities correctly, and perhaps the Mark to market account eliminates that concern.
Also new to your YouTube Channel today and have been watching all morning. Great information and I have been taking notes all morning.
Ross, are you persoanlly mark-to -market accountinng? are there any cons if one elects MTM?
IRS Regulation §1.1091-1uses the term "substantially identical" not "substantially similar."
Did you create a LLC or Corporation for your business? I've been profitable for a few months now, so trying to figure out which route to go.
What cpa do you use?
Question: Can I day trade and start taking social security retirement benefits this year when I turn 62 without the trading impacting my monthly social security check?
Ross thank you for knowledge and time that u provide to the trading community.
If I go in and out of a particular stock to take profits ( no loses ) and buy the same stock as it keeps on climbing and perhaps increasing my position, will that constitute a wash sale even though I have not lost any money ?
I’m 14 yrs old trying to learn how to do taxes and learn how to create a llc for my future self so I could already know how to do these stuff before I grow up and this video help a lot thanks!
Thanks,, Ross!
I don't think you can use short term capital gains from stocks as income in an ira as its not considered earned income.
Can you do a video in Mark to market account?
Is it possible to consult your CPA/Accountant?
So wash sale means I am not allowed to deduct a loss of 10k from current year but how does that 10K loss becomes 10K profit??? It says you are not allowed to take that 10k as loss. So then it should be 0. No profit no loss, rather than taking my loss and adding that to my profit. This just doesn’t make any sense.
One can trade under LLC (self employment) and draw below min salary and thus pay only 15% self-employment taxes?? No?
So if you profit 10,000 on a trade, then lose that 10,000 on another trade… Then you owe a couple grand in taxes…
Thank you for sharing!
Last year I had 85k in wash sales, and 7000k in over all losses no profit whatsoever. I was told I would owe taxes on the wash sales lest my net loss. That is insane that means I would owe taxes on a 78000k loss. Please tell me I have been misled. Thanks
Does an llc have the wash sale rule eliminated by default or do you still have to apply for MTM for that llc.
I've never had broker list wash sales as "exempt" only disallowed.
No transfer to IRA's if you need your s.t. cap. gains to live on!
I have a hypothetical question, can you daytrade in ROTH IRA and have a LLC trading business for day trading and not worry about wash sales
if you've filed form 4797 as a trader, for how many years can you deduct losses until you use up the loss?
Do you have know any traders in the UK who explain the way it works here? Thanks Ross!
It’s going to be a bummer for our more successful traders if the new tax bill gets passed. What it is 39% ?
The short term capital gains cannot be moved to a 401k, A 401k is with your employer and the money you earn from them.
Hello Ross, I never traded before, last year was my first year and I dont know much about trading but I start buying and selling every days, it seam like I am a day trader. I just received a 1099B a week ago. On the 1099B I make a gain of $8000 and a wash sale of $2000. How do you get rid of a wash sale when I file my income tax? Can you get rid of a Wash sale even you make a gain during the year?
Can anyone answer whether an Scorp, set up to exclusively day trade, is eligible to take the 20% pass through QBI deduction? Im getting a lot of fuzzy answers. if "it depends", what does it depend on?
I am trying to file my taxes for the first time as a day trader, and this was not helpful at all. Most of the content is knowledge I already had or could quickly google. I need advice on how to file and this was not that. The only helpful advice here was to use a CPA, as the author of the video does. Thanks.
AWESOME Vid – Over 60 but I still may look into that Trading in an IRA Account or ROTH IRA??
Why didn't they limit wash sales to the month of December only? To steal from us.
Watch out for wash sales OMG.
Trade within a Roth IRA and more than 59.5 with account opened at least 5 years and there are no taxes. EVER.
Ross, your contents have been more valuable
Can I write off all my trading equipment purchased to start my day trading business without having an LLC or is an LLC required?