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Getting rich

Spacealien2

Active member
Apr 29, 2012
1,603
1
38
Heaven
There's like trillions of cash parked outside of the market. What stocks will they go to once people start investing? Undervalued stocks!

Loaded up on airlines and energy call contracts at the dip.

1000% return baby
 

danmand

Well-known member
Nov 29, 2003
39,769
40
48
I averaged down on my airline calls yesterday and they're ripping today.

Going to hedge them on the way up.
Which broker are you using?
 

Terminator2000

Active member
Jun 16, 2007
3,205
0
36
I averaged down on my airline calls yesterday and they're ripping today.

Going to hedge them on the way up.
how do you average down? how many stocks do you have to buy to bring your stock price average down?

lets say you have 10 shares at 10 dollars each stock price.

and the same share is now 5 dollars each.

how many shares do you have to buy to bring your 10 shares at 10 dollars each down to say 8 dollars each?
 

Spacealien2

Active member
Apr 29, 2012
1,603
1
38
Heaven
how do you average down? how many stocks do you have to buy to bring your stock price average down?

lets say you have 10 shares at 10 dollars each stock price.

and the same share is now 5 dollars each.

how many shares do you have to buy to bring your 10 shares at 10 dollars each down to say 8 dollars each?
Say you buy 100 shares of XXX at a cost basis of $10 per share ($1000 total). The next day XXX drops to $5 a share, so you buy another 100 shares. The cost basis is now down to $7.5 a share. Repeat if it keeps dropping. It will eventually come back up. If XXX goes back up to $10, you sell the 200 shares, getting a profit of $200*(2.5).
 

howaboutnow

New member
Aug 21, 2019
7
0
1
Say you buy 100 shares of XXX at a cost basis of $10 per share ($1000 total). The next day XXX drops to $5 a share, so you buy another 100 shares. The cost basis is now down to $7.5 a share. Repeat if it keeps dropping. It will eventually come back up. If XXX goes back up to $10, you sell the 200 shares, getting a profit of $200*(2.5).
Keep dreaming that’s not a plan I would suggest you listen too.
 

Terminator2000

Active member
Jun 16, 2007
3,205
0
36
okay guys.

speaking of getting rich.

how do you avoid the wash sale rule when buying trading selling stocks?

some guy told me that everytime you buy and sell a stock. make sure first that you made a gain and not a loss. and then make sure you stay away from buying or selling that same stock company for 30 days so that the wash sale rule expires on that stock company

is he right?

how do you avoid getting slapped with a wash sale rule?

is it true when you sell a particular stock that you cant buy or sell it again for 30 days?

a girl told me that as long as you make a gain. the wash sale rule doesnt apply. is she right?

so confusing.
 

Spacealien2

Active member
Apr 29, 2012
1,603
1
38
Heaven
Stocks have their own up and down cycles, those in the same sector move with another usually. For instance, all airlines have a 2 week cycle - it goes up for a week, then goes back down for another week. It just reset yesterday and I'm selling my airline stuff next week.

If you make a gain and buy back in - you're essentially buying high. BAD!
Study the charts to find out their cycles.
 

danmand

Well-known member
Nov 29, 2003
39,769
40
48
okay guys.

speaking of getting rich.

how do you avoid the wash sale rule when buying trading selling stocks?

some guy told me that everytime you buy and sell a stock. make sure first that you made a gain and not a loss. and then make sure you stay away from buying or selling that same stock company for 30 days so that the wash sale rule expires on that stock company

is he right?

how do you avoid getting slapped with a wash sale rule?

is it true when you sell a particular stock that you cant buy or sell it again for 30 days?

a girl told me that as long as you make a gain. the wash sale rule doesnt apply. is she right?

so confusing.
You may buy and sell the same stock as often as you like.

CRA requires you to report any capital gains on any sale, but will only allow a capital loss if you have not bought the same stock 30 days before or after.

Be also aware that CRA can decide that you are a business trader, if you trade a lot, and count your gains as income.
 
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