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|Subject: Re: Trading in Retirment A/C||Date: 8/19/2006 3:34 PM|
|Author: RetiredVermonter||Number: 53246 of 75781|
Not sure I understand the logic of looking at 15 randomly selected stocks. I trade a portion of my portfolio and I beat the S&P 500 handily. But I certainly don't randomly select stocks. I do my homework and spend a good deal of time selecting each stock and monitoring it's performance.
Exactly -- same here. I even day trade some in my IRA, too, though never with a LOT of it, of course. However, I can say that, almost at will, I can come down here really early, on, say, a Wednesday (often a good day for this), do my research (various places), and home in on 2 or 3 promising stocks.
When the market opens for me (8:00 a.m. extended trading), I continue to watch these, especially if they are on Instinet, and get ready to pounce on 500 or more shares of something if it is on the move. Then I watch it... stay with it... and get ready to exit FAST if I make a reasonable amount! I've often started with $2,000 or so (in that part of my IRA) and ended up with maybe $2300-2500 in an hour that way, after the small $8 commission. (No -- not always, of course, but often enough.)
It's definitely not for everyone, and you need to be calculating and quick, but, yes, it can pay off. And no capital gains taxes. Same for long term gains, of course. I also hold several quity stocks and some mutual funds, and those gains are all tax free, too, when I sell any of them.
Yes, yes, when you WITHDRAW that money (after 59-1/2) you may be taxed, but I find I pay little or no income taxes on it.
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