The Rokslide Stock Traders Thread

[Johnboy]

A wash sale occurs when you sell or trade stock or securities at a loss and within 30 days of the sale (either before or after), you purchase the same—or a "substantially identical"—investment.

So you sell your GME for a $500 loss today. Tomorrow (within 30 days) you buy GME again for a bunch cheaper. Your broker will adjust your new purchase so you are -$500 on your newly purchased shares. Thank the IRS.

Is this why the aggregate "price" doesn't always reflect the actual purchased price average on a positions chart? I got into that situation with CDEV back in summer when it was bouncing around and I did a couple of reloads. I didn't understand the difference at the time.

 

[NorthernMN]

Is this why the aggregate "price" doesn't always reflect the actual purchased price average on a positions chart? I got into that situation with CDEV back in summer when it was bouncing around and I did a couple of reloads. I didn't understand the difference at the time.

It certainly will cause the aggregate price to be dissimilar from your purchased price. It can be frustrating because it takes time for the wash sale rule to be reflected in your account. More often than not it will be the following day that you are suddenly looking at a different price that what you believe you paid for a stock.

 

[Johnboy]

It certainly will cause the aggregate price to be dissimilar from your purchased price. It can be frustrating because it takes time for the wash sale rule to be reflected in your account. More often than not it will be the following day that you are suddenly looking at a different price that what you believe you paid for a stock.

Appreciate the info here. Do I have to account for this in any way when I do my 2020 taxes? Or can I just upload my TD Ameritrade Form 1099 and let TurboTax work its magic?

 

[Broomd]

A wash sale occurs when you sell or trade stock or securities at a loss and within 30 days of the sale (either before or after), you purchase the same—or a "substantially identical"—investment.

So you sell your GME for a $500 loss today. Tomorrow (within 30 days) you buy GME again for a bunch cheaper. Your broker will adjust your new purchase so you are -$500 on your newly purchased shares. Thank the IRS.

Thanks for that insight. Always learning here.

 

[mwebs]

So this has kind of been answered. What’s the best platform for the these OTC plays? I’m taking all my money out of Robinhood and was looking either web bill or fidelity but those won’t work for everything. Also I don’t really love fidelity platform, gf uses it and it’s not as intuitive.

 

[Ashy Larry]

Bought 150,000 bkmp today at .0003. Figured I’ve gambled $50 on worse. Probably in for the long haul.

 

[Buffinnut]

Bought 150,000 bkmp today at .0003. Figured I’ve gambled $50 on worse. Probably in for the long haul.

I was gonna do the same but fidelity caveat emptored me

 

[NorthernMN]

Appreciate the info here. Do I have to account for this in any way when I do my 2020 taxes? Or can I just upload my TD Ameritrade Form 1099 and let TurboTax work its magic?

I can't speak for every broker but I can for TD Ameritrade. The 1099 that you receive will have all your short and long term gains and losses. Your short term net and long term net are what you will need to pay taxes on. This will be clear on the form. Turbo Tax will be able to figure it out for you if you feed it the data on the form. 1099 forms will be available by February 16. So they cam make sure they have caught any was sale adjustments in those 30 days after the end of the year.

 

[Broomd]

I was gonna do the same but fidelity caveat emptored me

Bummer.
I popped in and out of BKMP with $200 profit, but more importantly I wanted to see how the buy/sell went. You guys know that sometimes it's about impossible to process this micropenny stuff before the price heads south again. It went okay though.

BCAP was the same thing last month, but it went from .0002 then to .0022 today. A thousand bucks invested then would be 10K now.

 

[CorbLand]

Bummer.
I popped in and out of BKMP with $200 profit, but more importantly I wanted to see how the buy/sell went. You guys know that sometimes it's about impossible to process this micropenny stuff before the price heads south again. It went okay though.

BCAP was the same thing last month, but it went from .0002 then to .0022 today. A thousand bucks invested then would be 10K now.

I have made a good chunk of change off the micropenny stuff but its a little scary. I always play with little amounts 100-200 bucks. I dont really understand them but Fred has rarely been wrong so I trust him. I will get my ass handed to me on one of them sometime.

If I had held my HCMC until the peak yesterday, I would have turned 200 bucks in to 10,000.00. That one stings a little bit.

 

[Mowy33]

I have made a good chunk of change off the micropenny stuff but its a little scary. I always play with little amounts 100-200 bucks. I dont really understand them but Fred has rarely been wrong so I trust him. I will get my ass handed to me on one of them sometime.

If I had held my HCMC until the peak yesterday, I would have turned 200 bucks in to 10,000.00. That one stings a little bit.

Who is Fred?

 

[ORHunter]

I have made a good chunk of change off the micropenny stuff but its a little scary. I always play with little amounts 100-200 bucks. I dont really understand them but Fred has rarely been wrong so I trust him. I will get my ass handed to me on one of them sometime.

If I had held my HCMC until the peak yesterday, I would have turned 200 bucks in to 10,000.00. That one stings a little bit.

I had 4,000,000 shares @.02 and sold for .03

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[ORHunter]

I had 4,000,000 shares @.02 and sold for .03

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I meant 0002 and sold for .0003

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[CorbLand]

Who is Fred?

FredADavis on the stocktwits app.

 

[Brock A]

PULM. Sounds like they’ve developed an inhaler for post Covid patients that’s seeing some good results.

Do you have link for the report on this?

 

[ChromeKype]

I totally screwed this one up. Bought in at .50ish sold at about $3

Still riding OCGN no seat belt. Had over 29K worth yesterday but pulled back pretty hard yesterday and today. Next PR should send this over $20 a share.


Still not bad for a $620 investment.

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[go_deep]

Still riding OCGN no seat belt. Had over 29K worth yesterday but pulled back pretty hard yesterday and today. Next PR should send this over $20 a share.


Still not bad for a $620 investment.

Sent from my iPhone using Tapatalk

Yeah, well, I sold mine at $3.30 a share, so feel good about yourself!

 

[go_deep]

Deleting this post, don't want to stear someone in the wrong direction with a stock that's not worth it.

 

[Mudslinger]

I had 4,000,000 shares @.02 and sold for .03

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I had 10 millions shares and doubled my money but what could have been kind of makes it sting. But I made money so I'm happy.

 

[EastMT]

I found one stock tonight that is interesting. SHIP @ $1.30ish was over $200+ just in the last 2 years. Going to dig around a bit more, but might through in a bid on it.
Anyone finds some good or bad info on it let me know.

SHIP and TOPS show those prices due to repeated reverse split, offerings and dilutions. They are terrible stocks except for a daytrade or overnight swing, never trust them long.