Thought i would try a little exercise after reading that degrading comment.
Correct me if I'm wrong here, but if the average LT holder had bought in at around 8c
and sold at 45c -if they were EXCEPTIONALLY lucky enough to get pick and then get out at the top, then they would have made 37c. Tax that, as a trader, on your marginal tax rate of 45% which =17c tax (let's ignore the trading fee) leaves us with a profit of 20c. So now we have 28c to invest and let's pretend i got in at the bottom 22c then i am 27% ahead and let's say we set a sell target of 64c, it hits and i make 42c. That 42c taxed = 23c. So ive made an overall profit of 43c since i began trading.
Now if i had bought that original same share at 8c , held till my sell target of 64c then i would have made 56c. 50%CGT concession means 28c taxed at 45%=12.6c tax leaving an overall profit of 43.4c
OK, we end up roughly the same. Who did the most work? And let's face it, reality is you would have had a trailing stop of 10% (40.5c) and hopefully you got out between that and 38c. Then saw reversal from bottom and got back in more likely at 26c. Completely different story.
Ouch. I'll stay long thanks.
Charting 2.0, page-1044
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