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Author Topic: Paying yourself
ruthie
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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?? [Smile]
Posts: 741 | From: North Carolina | Registered: Feb 2006  |  IP: Logged | Report this post to a Moderator
BooDog
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Just remember the Tax Man. lol.

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All post are my opinion. Do your own DD. Who's clicking your buy/sell button!?

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ruthie
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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...
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BooDog
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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.

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All post are my opinion. Do your own DD. Who's clicking your buy/sell button!?

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Machiavelli
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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.

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Let the world change you... And you can change the world.

Ernesto "Che" Guevara de la Serna

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Livinonklendathu
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I take a draw about every 6-8 weeks. Take it down to my trading amount and go again.

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......in Psychiatry circles it's known as a "warning sign"

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ruthie
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All sounds like good sound planning...
thanks

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PCola77
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I just take out money when I need it. No set plan. Just pull some when the regular bank account nears dry.
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ruthie
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Sounds good too PC!!
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greg755
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I dont take out cash I pay my self by tranferring stocks/cash into the 401k or the 529 for the kids....

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I don't need no stinking Broker to loose my money.

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ruthie
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I do not have a set plan as yet myself...still working on it...
thanks for all the input!!

Posts: 741 | From: North Carolina | Registered: Feb 2006  |  IP: Logged | Report this post to a Moderator
   

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