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Gone for Good
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2,899 Posts
I would not hold on to big gains and risk losing those gains just to avoid extra taxes.I had stop loss orders in very tight and ended up selling everything last week. Most of the stocks I bought in March a few were held a month or so.

In these times gains are gains,take them. Who knows where things will be in a few months. I'll never understand the idea of trying to save 20% and taking the chance of losing 100% of the profits. Feel lucky that you have gains to pay taxes on.

Red
 

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Registered
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4,545 Posts
I would not hold on to big gains and risk losing those gains just to avoid extra taxes.I had stop loss orders in very tight and ended up selling everything last week. Most of the stocks I bought in March a few were held a month or so.

In these times gains are gains,take them. Who knows where things will be in a few months. I'll never understand the idea of trying to save 20% and taking the chance of losing 100% of the profits. Feel lucky that you have gains to pay taxes on.

Red
I used to have an uncle who'd say......."Quit yer bitchin'-------they can't take it unless you make it! Just be glad you could make it." A lotta folks can't say that today.
 

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Live Secret, Live Happy
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17,528 Posts
I would not hold on to big gains and risk losing those gains just to avoid extra taxes.I had stop loss orders in very tight and ended up selling everything last week. Most of the stocks I bought in March a few were held a month or so.

In these times gains are gains,take them. Who knows where things will be in a few months. I'll never understand the idea of trying to save 20% and taking the chance of losing 100% of the profits. Feel lucky that you have gains to pay taxes on.

Red
Absolutely second this. I held on to some really nice gains in 1999 because I did not want to pay the tax. When I finally sold the stocks in 2007, I ended up only paying 15% and I balanced that against my expenses of building my ranch.

I lost 8 yrs of inflation and the opportunity to buy gold at under $400.
 

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Gone for Good
Joined
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2,899 Posts
Most people make a big thing of their buy in price of an investment. The really smart players think and plan a lot more about the exit price. Never buy without setting an exit price to cut your losses or to save any profits. Don't even think of waiting to get your money back on a bad deal. And if you have booked fat profits don't worry about taxes. When the trend turns against you, exit and wait for the next deal.

I have been very stupid many times and surely learned my lesson. I use trailing stops on everything. My gold & silver holdings are not for fast profits they are my forever holdings.

Red
 
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