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Mate thanks for the advice trust me I will protect my profit...

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stockcity

1,196 Posts.

24/09/14

23:45

Post #: 14024725
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Originally posted by Legless123 ↑

Stock? Good on you. But for all that is holy - TAKE SOME PROFIT!! If the SP goes to at least double what you initially invested, then sell half ( the money you put in ) and then decide when you want to cash in the rest or let it ride. And don't forget the tax implications. You pay tax on any profits you make in any given tax year. And that bloody hurts

Free-carry is the way to go. Downside is, when you eventually sell, you get hit with massive tax bill. Upside is you can sell your crap shares, in the same tax year, and offset those losses on the gains you made on your good shares.

Be canny about it and you can minimize your tax bill. But the rule of thumb for investing is:

"If you're not paying tax on your investments, you're shit at picking stocks"

Self-managed super and a couple of other funds excepted.

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Mate thanks for the advice trust me I will protect my profit it's definetly a trading rule I was lurking on the MNB thread an watched that run from 4c to 40c in a week an couldn't believe people didn't take profit an yep I understand the tax implications don't worry mate I'm about moving forward not trying to get fined from the ATO but thanks again a little reminder never hurts anyone

AVQ Price at posting: 1.7¢ Sentiment: Buy Disclosure: Held
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