High income stock market trader

Hi. It is before tax since July 1 so a good chunk of that will go to the tax man

I prefer just to discuss home loan options for an IP. Thanks.

 

Hi Terry. I thought that a 20% deposit for my situation might make my application stronger as overcoming any serviceability issues.
I may be in touch soon. Thanks.

 

Yipman
Yes it would. But you could still structure it so that it is an 80% loan with the bank and 24% from elsewhere.

BTW - did you teach Bruce Lee Wing Chun in the 1960s?

 

in the number of trading days this year so far,some would be interested to know how you traded and what and as this fin year has a bit to run yet,why pay any tax?.

 

Why? No income last year, a $350k gain this year, and a $120k tax bill?

Are your nerves up for that roller-coaster?

 

Don't know, but I'd like to understand the option

 

Why not? I have years that are inconsistent too, sure consistency is the goal but I'd take the above scenario over making a flat 80k a year everyday of the week. Sounds like the OP is playing to win instead of playing not to lose.

 

The why is a good one, but the why not is the inconsistency and issues with borrowing for other things; not to mention the nervous system as I said.

I knew a trader once; used to teach him golf. He got addicted to the screen; lost everything; house, wife and money. Sad.

I have no probs with that at all. I did it by chucking $420 big ones at a workshop....coulda simply kept on buying IP's...much safer.

Just illustrating the variations in the trading game to Beezelbub and asking if he is up for it ....folks hear these stories of massive gains and can get a bit carried away with it..

You can still play to win with a bit more...safety.

 

My nerves are fine thanks. Why wouldn't they be with banking such profits?
Why no income last year? That is simple. I was not trading last year as I was learning to become a better trader after having failed in a previous life. I think it was time well spent.

 

Sanj. You are correct. I am just trying to make hay while the sun shines because I know it won't always be like this.

 

Ah! thanks for clarifying the no income year....

It read like you'd had a massive shocker, then a boom year.

I've been having a decent old failure in the last few years too...might have to take up trading with you!!

 

So is anyone actually going to answer this poor blokes question

 

Holy moly that's some good trading. I'm also a shares investor and have never made gains like that. How'd you do it?

 

I'm no expert, but I'd wager that if your only income is trading; the best you could hope for would be a LoDoc?

He didn't mention any other form of regular income?

 

Because it seems you've only experienced the rollercoaster on the ride up, and have yet to fully appreciate what coming down might look like.

What risk management are you using?

 

If he is trading those numbers on a start line of 50k excluding entry broker costs,and the capital face trading value is 350k liquid with a high ATO tab,then just keep what he is doing because any looking at numbers on the top 100asx listed there are very few listed new floats that would give you that result..imho..

 

Yes this is a long-term return over say 20-30 years. Shares are not weaker than properties - only problem is they don't have long tenure leverage.

 

You'd have to get legal advice on that. Depending on how many people's monies you manage, you may need an AFSL license/lease a license. But there's always ways around it especially if you're just managing your own money. Assuming the fund is actually profitable, then just draw a salary from it I would've thought.

Rolf/Terry can confirm this? But I don't see how this is different from working at a larger Martin Place hedge fund and being paid a salary.

 

Nice to have a mix I guess.
Power of leverage is a big one though

Thanks
MTR

 

He is obviously not just talking about buying and holding here. He is trading much more frequently than that, profiting from declines as well as falls, etc. Completely different kettle of fish