Just wondering...Do all of you pay yourself each and every week? I know some who pull a percentage out in cash weekly and wondered if most of you do that as well?? Posted by BooDog on :
Just remember the Tax Man. lol.
Posted by ruthie on :
Yep, I know we can't forget him..I was just wondering how most do with paying themselves regularly, even if just a small percentage. In one of the major trading books I read in the past, that was one point that was made, to make sure you pay yourself regularly. Just checking to see what the norm seems to be for most traders...
Posted by BooDog on :
this is a living for some folks. not me....lol....maybe someday. don't think the wife could handle the stress of the red days Vs. the green days.
Posted by Machiavelli on :
Always have a working bankroll in your account that you do not touch. Much like Poker players have a certain amount of money as their bankroll and any winnings in excess of their bankroll they take home instead of putting it back into play.
If you opened a account with $25,000, then strive to keep that in your account at all times. Whatever you make over that amount you withdraw.
Posted by Livinonklendathu on :
I take a draw about every 6-8 weeks. Take it down to my trading amount and go again.
Posted by ruthie on :
All sounds like good sound planning... thanks
Posted by PCola77 on :
I just take out money when I need it. No set plan. Just pull some when the regular bank account nears dry.
Posted by ruthie on :
Sounds good too PC!!
Posted by greg755 on :
I dont take out cash I pay my self by tranferring stocks/cash into the 401k or the 529 for the kids....
Posted by ruthie on :
I do not have a set plan as yet myself...still working on it... thanks for all the input!!
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