Wow. I just took a look at NVDA impressive 5 year run. I’ve been bouncing in and out for the last few weeks. Not a day trader more of a week trader. I know I am giving the feds 30% every time but I consider that the price of doing business. My 401k is long term this is controlled gambling
You need to get into a lower tax bracket. I'll only owe 22% for my short term gains. And it is absolutely the price you pay to make money in the market.
I've got 2 accounts I manage. My IRA and my individual. I have a traditional IRA so I won't pay anything on that till I retire. So far this year I'm up 186% in it. A lot of that thanks to NVDA.
My individual account it what I'll owe on. I'm up 13k on my original 14k invested. All of that is short tern. So Uncle Sam will be taking an additional 3K from me as of right now. That still leaves me with 10K more then I started with.
This house of cards will come tumbling down sooner rather then later. In the meantime I'm doing the same as you. Holding for anywhere from a day to 5 days max. I'm also keeping 50% cash in my individual account and never putting more then 25% on any single stock or option. My plan is to limit my loss when the shit does hit the fan.
If you have the time to do some research look at LIACF. They are a lithium mining company. They trade OTC. I got 1500 shares at .75. They are currently trading at $1.73. I think they have a lot more upside if their mine results are true. After looking at projected lithium demand and comparing that to how much lithium they have in the ground, provided their 28 test holes are accurate, I decided to keep them long term. I'll be adding to my positions.
My hope is that they get traded in the NYSE within the next 6 months. They are above the requirements for the NASDAQ and very close to the requirements NYSE. If they get listed on the major exchanges the exposure will make the price surge even higher. Lots of variables but I really believe they could turn into a very profitable play.