HOW TO DOUBLE YOUR MONEY WITHIN A YEAR..4%at a time

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I transferred $50000 from my IRA into A ROTH IRA and this is my plan to double it by years end.

If you make just 2 4% transactions every month ,you will make 8% per month or 96%per yr.

4% may seem hard but really it's just:
.40 on a $10 stock
20 cents on a $5 stock
$1 on a 25 stock

obviously we don't want to put all the money in one stock. If we split in 2 we need four 4% investments split in 3 six 4%. split in four 8,etc etc
so far
Bought 1000 sh SRNE @ $10.30=$10300
sold to open 8 put options SRNE @$9 for $55 per option 55/900 =6.1%
+$440 Will look to sell some February call options against the shares.
 

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EXCUSE TYPOS..Posting from my phone

Bought 5000 sh Sernova symbol SEOVF for $2.15/share

Bought 1000 sh DM for $26.This is also the bonus stock in my top 6 for 2021..already up over 30% this yr
 
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Met,

You do realize that you have to pay the taxes on the 50k that you transferred, correct?
 

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I am a CPA so yes.If you don't do it in a retirement account you will pay taxes as well.My thinking is there will be no rate change this year, but with the Democrats in charge the rate will not be going down so this is the cheapest rate I ever expect to see.

Just sold to open
5 options
SRNE $13 STRIKE calls for $60 each =+$300
Expiration feb 5th.
ytd now +$740.
 

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If you try to follow its important that you have full option buying and selling in your ROTH.I use TD Ameritrade.Obviously you can do it just buying and selling stocks as well.
 
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I am a CPA so yes.If you don't do it in a retirement account you will pay taxes as well.My thinking is there will be no rate change this year, but with the Democrats in charge the rate will not be going down so this is the cheapest rate I ever expect to see.

Just sold to open
5 options
SRNE $13 STRIKE calls for $60 each =+$300
Expiration feb 5th.
ytd now +$740.

Oh ok, no problem.

I've known people who tapped their IRA accounts before who werent aware of the tax ramifications or the early w/d penalty (for those who didnt roll over)
 

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EXCUSE TYPOS..Posting from my phone

Bought 5000 sh Sernova symbol SEOVF for $2.15/share

Bought 1000 sh DM for $26.This is also the bonus stock in my top 6 for 2021..already up over 30% this yr

Did you buy this at 2.15? It's down to 1.64. Ooof! I'm down over $1000 and falling.... Hopefully it has a good day tomorrow, but it was up over 100% when I bought in (for the day).
 

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I added some on the dip, I'm in at 1.87/avg now. Hopefully this makes a strong comeback! (SEOVF)
 

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I only want to make 50 cents on it.Not looking for any long term gains in this thread.The future etf thread or the top 6 threads are for that.
 

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Oh ok, no problem.

I've known people who tapped their IRA accounts before who werent aware of the tax ramifications or the early w/d penalty (for those who didnt roll over)
its good you pointed that out.
.I forget we have newbies who may not be safisticated in these types of trades.
 

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MF, what are your thoughts on SEOVF? It's taking a beating? Just people pulling profit? I'm down 40+%! Ooooof! It's killing me. I added a few shares, I'm in for the long haul now.
 

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Well,I bought the stock because the Canadian Govt halted trading on it on Jan 15th at .94 cents.I knew it would bounce up but that bounce was slightly higher than I expected and did not last long. My plan was to sell it between $2.50 and $2.75. it never got there and I am down almost $1/share. I will give it until next week or if it hits $1.10.To answer your question,it could be profit taking as it more than doubled.It was not a long term play for me so there is no need to hold it.If nothing by next Friday,I will move on and take my loss..Still have 11.5 months to go. Was following EH..Wish I put that in this thread instead.SORRY
 

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MF...just gonna ramble a little...but I trust you and have followed your threads cuz I like to learn...in this scenario and given you are CPA and know the rules on how you started this thread...and commendable for sure...but in FULL DISCLOSURE, should you not explain to any/all that might read this why or how your IRA to ROTH can be an advantage as well as limitations to some...and other avenues to possibly use like a back door ROTH...I know I've looked into conversions but have to wait due to being a HIE and my current tax rate would kill a large portion (taxes paid) so from a financial standpoint, for me, it's best to wait till my tax bracket is considerably 'lower' and pay those taxes at that rate vs current.

Then again, maybe just say if you "follow' in my footsteps, ask a fin advisor how you can or if should convert traditional IRA to Roth...

I fully expect you to execute your plan...wish I was more versed and knowledgeable on your options you are doing...at my stage maybe a little too much risk???

Great job YTD!!
 

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Well,I bought the stock because the Canadian Govt halted trading on it on Jan 15th at .94 cents.I knew it would bounce up but that bounce was slightly higher than I expected and did not last long. My plan was to sell it between $2.50 and $2.75. it never got there and I am down almost $1/share. I will give it until next week or if it hits $1.10.To answer your question,it could be profit taking as it more than doubled.It was not a long term play for me so there is no need to hold it.If nothing by next Friday,I will move on and take my loss..Still have 11.5 months to go. Was following EH..Wish I put that in this thread instead.SORRY

It made a little comeback at the end of the day. I'm in at a $1.74/avg after adding a few shares today - still down big overall (big for me, at least). I think this thing makes another run. I hope to get out positive.
 

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SOLD OFF 500 SH SRNE @ $16.30 =$$8150 the other 500 will be exercised at $13 . net gain $3000

will take this opportunity to dump 3000 sh of Senova @ $1.25 = $3750 net loss $2700

ytd realized gain $1040.


CURRENT CASH BALANCE $$15590
 

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