day trader - some questions?

  1. 352 Posts.
    Hi,

    I am just wanting some questions answered about day trading.....hope someone can help.

    1. If I were to apply to become a day trader and during the process of trading I had a loss of about $50,000 in a particular financial year - how much $$ would I be able to get back? (I am taxed in the highest tax bracket 47%)

    2. Say for eg I was able to get back $10,000 of the $50,000 I lost....the remaining $40,000 - would I be able to offset that, if I made a gain? Say for eg. if made $5000 gain from a particular share, that would then mean that my financial loss would only be now $35,000...is that correct?

    I hope this makes sense...any help would be much appreciated....thanks.

    regards,
    fingerscrossed
 
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