Comments on: Unemployed or Full-Time Trader? http://mytradersjournal.com/stock-options/2007/12/19/unemployed-or-full-time-trader/ Investing in Stocks Through Options Fri, 21 Nov 2008 03:48:13 +0000 http://wordpress.org/?v=2.6 By: Alex Fotopoulos http://mytradersjournal.com/stock-options/2007/12/19/unemployed-or-full-time-trader/#comment-1600 Alex Fotopoulos Sat, 22 Dec 2007 14:19:05 +0000 http://mytradersjournal.com/stock-options/2007/12/19/unemployed-or-full-time-trader/#comment-1600 That's awesome Melvin! You are very welcome. You have to love getting those six premiums during a down quarter. You are right, I'm not actually going to borrow $ to add to this account. I forgot to mention during this post that the idea didn't make sense even further because I have $30k in CDs that I'd tap into before borrowing and I'm still planning on leaving that as our safety net. That’s awesome Melvin! You are very welcome. You have to love getting those six premiums during a down quarter.
You are right, I’m not actually going to borrow $ to add to this account. I forgot to mention during this post that the idea didn’t make sense even further because I have $30k in CDs that I’d tap into before borrowing and I’m still planning on leaving that as our safety net.

]]> By: MELVIN HODGES http://mytradersjournal.com/stock-options/2007/12/19/unemployed-or-full-time-trader/#comment-1594 MELVIN HODGES Fri, 21 Dec 2007 16:09:21 +0000 http://mytradersjournal.com/stock-options/2007/12/19/unemployed-or-full-time-trader/#comment-1594 I agree with comments of #1. (DO NOT BORROW MONEY TO INVEST IN THE MARKET) I did this when first starting to invest and got burned. Alex, also want to thank you for introducing me to sell OTM naked puts as good way to enter trades. I have 6 naked puts expiring today (Dec. 21) and so far none are ITM. What a great strategy to get premiums or enter positions!!! Thanks again!!!!! Best of luck in your job search. I'm also from the South, SC. I agree with comments of #1. (DO NOT BORROW MONEY TO INVEST IN THE MARKET) I did this when first starting to invest and got burned. Alex, also want to thank you for introducing me to sell OTM naked puts as good way to enter trades. I have 6 naked puts expiring today (Dec. 21) and so far none are ITM. What a great strategy to get premiums or enter positions!!! Thanks again!!!!! Best of luck in your job search. I’m also from the South, SC.

]]> By: Bill http://mytradersjournal.com/stock-options/2007/12/19/unemployed-or-full-time-trader/#comment-1589 Bill Fri, 21 Dec 2007 00:33:52 +0000 http://mytradersjournal.com/stock-options/2007/12/19/unemployed-or-full-time-trader/#comment-1589 I'm pretty sure your taxes would not be higher because your investment income is not earned wages and therefore you would not be paying SSA or FICA taxes on it. I maxed out SSA for a number of years but there is no limit on FICA taxes and my CPA has not included my investment income in any calculation for FICA taxes. I’m pretty sure your taxes would not be higher because your investment income is not earned wages and therefore you would not be paying SSA or FICA taxes on it. I maxed out SSA for a number of years but there is no limit on FICA taxes and my CPA has not included my investment income in any calculation for FICA taxes.

]]> By: Matt http://mytradersjournal.com/stock-options/2007/12/19/unemployed-or-full-time-trader/#comment-1588 Matt Thu, 20 Dec 2007 23:03:42 +0000 http://mytradersjournal.com/stock-options/2007/12/19/unemployed-or-full-time-trader/#comment-1588 We are all unemployed ;)..just everyone phrases it differently. My girlfriend is great like your wife and covers day to day expenses until things pick up on the net. Wish you best of luck, and the time off should make you creative/thinking again on what you want and how to achieve it. We are all unemployed ;)..just everyone phrases it differently. My girlfriend is great like your wife and covers day to day expenses until things pick up on the net. Wish you best of luck, and the time off should make you creative/thinking again on what you want and how to achieve it.

]]> By: Alex Fotopoulos http://mytradersjournal.com/stock-options/2007/12/19/unemployed-or-full-time-trader/#comment-1577 Alex Fotopoulos Thu, 20 Dec 2007 00:13:11 +0000 http://mytradersjournal.com/stock-options/2007/12/19/unemployed-or-full-time-trader/#comment-1577 You are exactly right and that's my decision in the end. Money is fun and I need a job to have more of it. You are exactly right and that’s my decision in the end. Money is fun and I need a job to have more of it.

]]> By: mule65 http://mytradersjournal.com/stock-options/2007/12/19/unemployed-or-full-time-trader/#comment-1575 mule65 Wed, 19 Dec 2007 22:52:57 +0000 http://mytradersjournal.com/stock-options/2007/12/19/unemployed-or-full-time-trader/#comment-1575 IMHO, keep looking for a real job -- you'll get bored trading and your skills will become outdated. Don't use your line of credit or margin for trading. It's difficult to overcome loan interest plus short term cap gain taxes. If something goes wrong you can lose your home. IMHO, keep looking for a real job — you’ll get bored trading and your skills will become outdated. Don’t use your line of credit or margin for trading. It’s difficult to overcome loan interest plus short term cap gain taxes. If something goes wrong you can lose your home.

]]>