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2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

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3975287 No.3975287 [Reply] [Original]

>mfw buying at $294 and selling at $300 repeatedly has made me over 45% in the past 2 months.
>it was that simple all along

I held when it went down to $220 and didn't buy when it went up to $350 either. It's still working. And I say that as someone who bought ETH under $20 originally, held when it went to $420, held when it went back down to $130, and still hold. But swing-trading $294 to $300 is just too easy.

>> No.3975328

wait bro, are you telling us you trade from 294 to 300? this is like $3 profit after fees. nice larp tho, made me respond atleast.

>> No.3975340

I hate this girl and I'm gonna her and fags who post her pics.

>> No.3975345

You're taxed on every trade lol

>> No.3975356

The real tip would be telling me who this girl is

>> No.3975368

>>3975328
It's 2%. Specifically 294 to 299.88.

I have been trading for 2%, back and forth at the exact same prices, $294 to $299.88 on Gdax, which has 0% fees.

But I've managed to make the same trade 21 times now and it compounds every single time. I'm not LARPing at all, that's literally my only strategy. Just repeated multiple times on Gdax over and over again. My limit orders are ready right now to buy in again at $294 and will be set to sell again at $300. It just works.

>> No.3975386
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3975386

>>3975340
Pls no bully

>> No.3975391

>>3975345
Taxes don't work like that faggot. And the IRS boogeyman doesn't scare me anyway because the worst they can do is lay on an extra fine on your profit.

>> No.3975396

>>3975287
cryptos went 10x in value in august. and you only gained 45%?

>> No.3975411

>>3975396
OOF HOW DOES THAT FEEL OP

>> No.3975435

>>3975396
>>3975411
See >>3975287
I bought ETH at $20.

I'm referring to the past 2 months only, and only a small section of my portfolio. I was HERE for the 10x of Feb to June and did pretty well. Took a beating in July but yeah.

>> No.3975440
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3975440

>>3975386
He censored his bully so it's okay.

>> No.3975462

>>3975368
oh sorry, didn't know you trade at GDAX. yeah i mean if this works for you, do it over and over again. every profit is better then no profit, kek. you do better then 95% of biz!

>> No.3975493

>>3975356

pip the friendly alien

>> No.3975511

>>3975462
I mean I'm holding too, and trading other coins and doing ok, of course, but I just think it's funny that my "experiment" someone here previously suggested on /biz/ to just pick a psychological trading point ($300) and trade the same trade on it over and over again worked out so well.

Every time I think it's not going back to $300 it does. 21 times now. It's weird how well this experiment, which I delegated to a very small part of my portfolio, happened to work out.

>> No.3975542

>>3975391
Taxes do work like that though? Wtf are you talking about

>> No.3975565

>>3975542
You're not taxed on every trade. That's a misconception.

Also capital gain taxes are non-existent when your income is small enough.

But BESIDES all that it's extremely easy to avoid your taxes with crypto so don't get into the
>lel enjoy getting raped by the IRS meme
Anyone who's not a fucking idiot isn't paying their taxes in crypto and the people who are will remain butthurt that not everybody is getting jewed as hard as them.

>> No.3975585

>>3975542
wrong. why would you be taxed on unrealized gains? They cant tax your crypto, only when it goes to fiat

Also: neets need not worry. They dont care unless you are making over 20k a year

>> No.3975594

>>3975287
>>3975368
Good on ya man. I've been trying similar things with BTC recently. It's surprising how much you can make long-term. Short term it seems like a complete waste of time, but stick it out and damn...

>> No.3975602

>>3975493
Oh you were serious. Thanks man

>> No.3975610

>>3975585
I'm married so my tax brackets are even nicer.
But I am referring to trading in fiat, not BTC anyway. But regardless I have my own ways of avoiding taxes and am not worried so it's not an issue yet.

>> No.3975619

>>3975396

Yes, every crypto including btc went up 1000% in one month.

>> No.3975626

>>3975565
How do you avoid them?

I started crypto tuesday. I actually haven't paid taxes ever in my life yet coz I only began working a few months ago to set aside money for school.

>> No.3975640

>>3975565
>>3975585

Crypto to crypto trades are a taxable event, period

>> No.3975670

>>3975640
Cool. You're still missing the point that I have my own ways of avoiding taxes so it's not an issue for me.

>lol let me guess your method is X. Yeah that doesn't work faggot.
And then I rebutal with
>No it's not X
And you say
>It's Y then. You're going to get raped by the IRS
And I go
>Nope not that either
And you say
>Nice LARP then.
And I respond
>Believe what you want. What I'm doing works
And then the thread dies.

Do you really want to go through this whole song and dance with me? Really faggot?

>> No.3975704

>>3975670
Have fun feeling bullet proof until you inevitably get audited retard

>> No.3975710

>>3975640
like kind is the theory until the IRS goes to court over it

besides, no way to audit some of the exchanges out there

>> No.3975711

>>3975670
>I have my own ways of avoiding taxes
Right. What are they?

>> No.3975736

>>3975704

And how would any tax agency audit crypto trades?

>> No.3975758

>>3975287
wtf is the problem with this place and pics of little girls
>>3975626
>How do you avoid them?
capital gains are paid when cashing back into USD
short term is higher (under a year)
twice as high

>> No.3975776

Only like 15 percent of people are doing their crypto taxes the right way. The IRS knows this too.

We are all good for now

>> No.3975817

>>3975711
It involves a money management business I run and some connections I have overseas since my wife is a foreigner and has access to her family bank accounts overseas. It works, I'm just not explaining it in detail here.

>> No.3975829

>>3975776
>>3975736
Everything I'm doing is legal. I just don't pay any taxes.

It has to do with >>3975817
There's a whole procedure I go through but it works.