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oldtime
Registered: Jun 2011
Posts: 7356 |
08-30-12 07:27 PM
Since my account hit a nice round easy to remember number today, I have decided to sweep 50% of the amount each month over that value.
I don't really need the money to live on anymore, but I do need to keep straight with Uncle Sam.
That way my account will slowly build, and I will get a check each month, even after a loosing month (as long as it stays above that nice round easy to remember value.)
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tradin4profits
Registered: Jan 2009
Posts: 303 |
08-30-12 07:55 PM
Quote from oldtime:
Since my account hit a nice round easy to remember number today, I have decided to sweep 50% of the amount each month over that value.
I don't really need the money to live on anymore, but I do need to keep straight with Uncle Sam.
That way my account will slowly build, and I will get a check each month, even after a loosing month (as long as it stays above that nice round easy to remember value.)
Pretty cool, you can trade but you cant spell  ....loosing is spelled losing.
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oldtime
Registered: Jun 2011
Posts: 7356 |
08-30-12 08:08 PM
Quote from tradin4profits:
Pretty cool, you can trade but you cant spell ....loosing is spelled losing.
sorry about the spelling, I never said I could trade, I was just talking about how I wanted to sweep from here on. I swept 100% of the profits at the end of July because I have only been trading this way since NOV 2011 and I'm not sure if I am good or just lucky.
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oldtime
Registered: Jun 2011
Posts: 7356 |
08-30-12 08:11 PM
Quote from rolando87:
Ok.... Congratulations?
no congratulations are in order, but thank you, I was just talking about my plan going forward to sweep on a regular basis to both slowly build up the account and take a little off the table for the IRS and whatever else.
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oldtime
Registered: Jun 2011
Posts: 7356 |
08-30-12 08:25 PM
so pick a number, any number. Let's say you open at ib with the minimum 10k. every month therafter you sweep 50% of the closing balance above 10k.
so if the closing balance is 10,500 you sweep $250.
if next month the close is 13k you sweep $1500
if the next month the close is 11000 you sweep $500
if the next month is 9k no sweep
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