Day Trading Success-The Key is SurvivalWritten by Mike Reed
A lot of traders, especially new traders, are looking for a list of simple trading rules to follow. "Rules-based trading" is better than an undisciplined approach, that's for sure. But simple mechanical rules have not worked for me. Like every successful discretionary trader, I've learned to recognize a group of high-probability situations (or setups) that put odds on my side. In a way, these setups are "rules", but they are essential.Most new traders tend to focus just about all their time and energy on finding nearly perfect "setups", but trade setups, even very good ones, are *not* key to successful trading. It's *way* you trade your setups that keeps your losses smaller than your gains. And this is single most essential key to trading success. To me, process of limiting losses is more than just money management...it is survival. I can't give you a list of mechanical survival rules that will take place of experience and make you a successful trader overnight, but if you stick to following principles in your trading, you'll be on track. You'll be doing just about opposite of crowd, and you'll eventually learn to limit your losses. Limiting your losses is only way I know to make money in this business.
| | Taxability of Social Security BenefitsWritten by Richard A. Chapo
The IRS determines whether your Social Security benefits are taxable by looking at your total income and marital status. Form SSA-1099, which Social Security recipients should receive by January 31, shows your total benefits, but determining your taxable benefits requires putting pencil to paper.Generally, if Social Security benefits are your only income, your benefits are not taxable and you probably do not need to file a federal income tax return. If you received Social Security benefits plus other income, answer to how much, if any, is taxable can be found in worksheet in Form 1040 or 1040A instruction book. For a quick computation, add one-half of your Social Security benefits to all your other income, including tax-exempt interest. If this amount is greater than base amount for your filing status, a part of your benefits will be taxable.
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