Maybe he's educating them on what not to do (keep adding to losers until a margin call happens) :)
Does anyone know how well has he done with his daytrading after the blow-up? Even if he has managed to do well with his daytrading after the...
I believe my IB 1099 is wrong too, and wash sales are likely the culprit. The raw non-wash-adjusted trades in the Statement of Funds are correct,...
FWIW, my broker got Penson to issue a corrected 1099, but I notice that my request for Penson to upwardly adjust the cost basis of "covered"...
"It's impossible to see a crime like MF Global before it happens." And even if you could see it, would the SEC ignore it like they ignored Madoff?
Here's a post by Tim Sykes that tries to refute JA's "8 Reason's Not to Daytrade....
I don't think he's "very short". I do think he's "very bearish" but not necessarily "very short". He did admit to being short some equities but...
If, by any chance, he decided to go long last fall (or at least held long), then he must have a 1MM+ account by now. :D
Call me crazy, but I think Vishnu (J.A.) is onto something. Day trading for a living will eventually result in failure and burnout, and it...
Even Robert Hoffman failed (blew up his account trading TF futures last year) but, ironically, he's still teaching peole how to "day trade for a...
In the case of a broker failing to cost-basis adjust replacement shares bought in 2011 that SHOULD BE adjusted (due to a wash sale from lots...
I notice Pub-550 states that if a short position is held under 45 days, and the short-seller had to make a payment in lieu of a dividend, then the...
I'll definitely be filing for an extension. By the way, according to my calculations, the Penson error, in which they failed to adjust my cost...
I just got a Penson 1099-B, and shares bought in 2011 that were really REPLACEMENT SHARES for shares that were originally bought in 2010 (but...
I still don't understand why IB reported blank acquisition dates instead of "Various" on the 1099-B in the case of lots purchased on different...
This wash sale stuff is getting way too complicated. It turns out that my purchase on the 8th of March was actually in two lots. (8 shares and...
FWIW, There was another stock (ONNN) in which I bought 50 shares, took a loss, and then bought back a 2nd lot of 50 shares, and then later sold....
Okay, I may have found what I believe to be a mistake in an IB worksheet (and the 1099 itself) On the 8th of March I bought 20 shares of NEM...
No problem. Yeah, the wash sale rule is very confusing. It would be nice if multiple buys on same day could be treated as one big lot....
I believe that it is possible that IB may be correct and you still actually may have a wash sale. Here's why: If you bought the stock in...
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