I’m sightly confused as to why you would wait to convert later in the year if you think the account value is going to be higher. If you convert $10,000 in Sept 2023 you have $10,000 of income. If you convert $14,000 in December 2023 you have $14,000 of income for 2023. I’d rather convert at $10,000 then have it grow so I have tax free gains in 2023 - assuming things go well which you seem to think they will.
1 Like
I need to keep the balance minimum to about $27,000 (in order to pattern day trade). It’s about that now. I can covert until the end of December to get credit for 2023. In actuality I won’t have to pay the tax until April. I don’t want to use additional money to pay the taxes so I will wait until the account appreciates to draw from it down to $27,000 about again. Of course if I do even better the balance will be even higher with the taxes being paid. Hope that makes better sense now.
There is a 5 year waiting period on new Roth accounts before earnings are tax free.
I need to pay taxes on the $27,000 as it is now a traditional IRA and taxes need to be paid on the full amount to convert to Roth.
Ok I see what you mean. If I convert to a Roth immediately the 2023 Taxes will be on 27,000 and not owed until April 2024. The longer I wait, the bigger the tax bill will be in April. I’m on it! Thanks…
Update: there will be estimated tax payments due soon after I convert to the Roth. I can’t just wait till April 2024 to pay the taxes. 6% penalty possibly if I do not withhold at the time of conversion and fail to make payments. It’s all good. The sooner I convert to a Roth the better.
Not sure why you guys are concerned about tax payments in the far future…
Maybe you should concentrate on making money first!! Slow and steady!
After that you can worry about the taxman.
So far the strategy has made 4% with a 6,2% DD, and with a big bump a few days ago.
When I see the performace so far, I’m not sure why C2-investors should subscribe at all.
Well it has been a month. And the performance is up 4%. 4% times 12 is 48% per year. Plus it is substantially beating the S&P 500 performance. This is with the 6% down draft. This is nothing to sneeze at but if you ex-out the one day downdraft, performance was running at about 200% per year. It is my intention to recover from the downdraft before the end of September (possibly by the end of next week). I have altered techniques because when I was running at an annual return rate of 200%, I erroneously thought that that was not good enough. I have already started taking two steps to change my techniques. A) a lower daily profit of $100 (.5%) is now acceptable, that is, I am not going to be “swinging for the fences”. Singles and doubles are acceptable and getting on base (with a profit) consistently is all that is needed. I was trying to do too much. Daily profits will range from $100 to $350. B) losses will be taken much more quickly at a lower level. $1500 losses in a day are not going to happen moving forward. “Best loser wins” mentality first and foremost. Daily losses, when they occur, will be $200 to $400.
Over all my win percentage I am shooting for is 60 to 70%. But 60% will be just fine. Annual return rates of 100 to 200% are doable.
From the $1500 downdraft, I realized my risk tolerance was out of step with my subscribers. My subscribers want consistent profit results and minimal downdraft exposure. I can deliver.
Talk is cheap. Keep an eye on Beta Momentum V1. Come back into the pool when you are comfortable.
Also, I have subscribed to my own strategy as an investor via a tax advantaged account in addition to the trader/manager account. This allows me to accept a lower daily profit target (which is still good $100 per day). Now as I have 2 accounts working… $100 turns to $200 and $350 turns to $700. This past Friday I made $310 plus $310. I will be putting up these numbers in the future with lower loss amounts during bad days. The profit days will outnumber the loss days too. I will provide the consistency that is desired with smaller down days.
And I haven’t even mentioned that my tax advantaged investor account can be scaled to 200% easily with no additional capital required. So a $310 profit day like last Friday would be $310 + $310 + $310. All on a $50,000 investment. This will not be unreasonable at all. When I feel comfortable I will scale at 200% and inform my subscribers that I now have that confidence level.
Again talk is cheap. I will “show you the money” moving forward. See how things go for the rest of September. Will the 6% downdraft be recovered from by then?Great things may be on the horizon. I have outlined my goals here. If I deliver… great. In any case I will be running these two accounts (GlennConti and GlennConti3) because it is the best game in town for me. Mirror if you agree. If not, watch from the sidelines. It’s all good because I am moving forward and investing this strategy regardless of whether or not I have outside subscribers.
Allow me to reiterate the basic advantages of this strategy. They are as follows;
A) profit possible on either up market or down market days via long calls or long puts.
B) very small correlation to S&P 500 or NASDAQ markets. Portfolios that include low correlation investments are more diversified and therefore are less risky.
C) smaller capital requirements. Long options provide leverage without unlimited loss risk.
D) manager has decades of market experience. Learns and adapts quickly to subscriber’s needs. Provides excellent communication and transparency.
E) $149 per month fee will be shown to be a raging bargain.
I agree that making money is the primary thing. That being said planning ahead on taxes can save thousands. I’ve saved thousands over the last five years and set up some huge benefit by planning ahead on taxes with IRAs, conversions, Roth IRAs, SEP IRAs, and HSAs. I’ve made roughly 30% annualized over the last 5 years with 100% turnover. Without tax planning the effective return after tax would have been close to 15%-20%. Because I planned ahead the effective return after tax has been close to 25%-30% and much of the money is still spendable before retirement which is great since I have many years until retirement and close to $500k in retirement accounts that can grow mostly tax free for decades while still giving me access to much of it without any penalty. My thoughts on tax structure aren’t meant to be an endorsement of the strategies in this thread. But anyone that has a strategy they really think will do well ought to consider tax consequences upfront and continually reevaluate.
I will say extrapolating to this extent feels like not a good sign. Feels too optimistic. I like to see more pessimism in a trader 
1 Like
Well one poster says my current returns (48%) are too low and is not sure why someone would subscribe and the other says 48% is too optimistic. 48% is the current return after my terrible downdraft of 6%. It is what it is. I have a 2 year track record trading this strategy prior to joining C2. Let’s see what happens. I agree tax implications are important too and planning ahead is always a good thing.
I will improve from here. Mark my words.
CURRENT STATISTICS:
See above. 48.9% annual return. Also see performance relative to S&P. But, I can do better. 
Watch for the next two weeks. 
Goal: End September Strong.
I missed that you have a two year track record prior to C2. If there is any way to share it I’d love to see it. Also I wish you good luck in your goals!
Thank you for the well wishes! One of the key reasons for me coming to C2 was the great depth of statistical information that they keep for me. That alone is worth the price of admission. Add to that the ability to mirror and scale with a separate username. As I said previously… wonderful platform. I believe I have talked enough for now and I need to perform as I know I can. I’m really anticipating the week to come and the following week. I love what I do.
2 Likes
Just to be clear… your current return so far is 4%! (48% would be the estimated yearly return)
And in my opinion, a 48% yearly performance is not too low, it’s quite the opposite.
For a C2-system, 48% in 1 year would be an amazing performance. Especially with a DD lower than 10%-15%. Out of thousands of C2-strategies, there is only one strategy that is older than 1 year with a +30% performance and a DD less than 15%.
That strategy would be ares.
About the performance… what I ment is the 6,2% DD on Sept.12th.
That daily bump will scare potential subscribers. So, if you can avoid this in the future, yes, then will you have many new subscribers in the next few months.
About paying taxes… yes, everyone wants to pay less taxes if possible.
But most C2-investors had huge losses in the past few years, because most C2-strategies failed in the first 6-12 months. So, for them at the moment it is more important to make profits first.
And I wish you good luck as well. Especially I hope your will make those 48% performance a year (hopefully with a low DD) !! After all, I want to make money as well on C2 
.
Hello newt. Thanks for the clarification and the well wishes. I am going to put my head down and get to work now. 9:30a ET can’t come fast enough. 
So, I am aiming for less volatility in the driving account for Beta Momentum V1 (username GlennConti). However, I still want strong profits. This will be achieved via an investor account and scaling. Username GlennConti3 went live yesterday as a subscriber and investor in Beta Momentum V1 scaling at 200%. The average number of contracts purchased by GlennConti should drop. For example, I only purchased 2 longs yesterday; this number would have typically been 3 longs given the market setup as it existed yesterday. This resulted in less downside exposure if the market had abruptly turned against me. Username GlennConti profited about $180 or about .7% however Username GlennConti3 profited about $350. The total achieved ($530) is more profit than I would have been able to get (about $300) with this same market setup in the past with just the one username account. Bottom line: more total profit with less risk in the GlennConti username account. Yes I am committing more capital total $50,000 vs $25,000. But, it definitely seems worth it. Also username account GlennConti3 is tax advantaged too. Thoughts?
PS: even more profits await as I can easily scale to 300% with no additional capital needed to support the trades. Options are a beautiful mechanism to achieve market exposure with capital efficiency. When I switch to 300% scaling, I will update with a post.
@GlennConti
I would like to see the two year record as well…
Of course we know that the past performance is not indicative of future results.
But so at least we can see how you were trading in the past, especially the Drawdowns.
Thanks
The strategy was a work in progress initially 2 years ago. I was trying to discover a profitable momentum strategy. The techniques varied substantially from week to week as I was experimenting and learning. Extrapolating from those results is not germane to what I have refined to now. Just know that the intent was to have an account where I could fund at $27,000 and grow each month (without drawing down below $25,000 - the PDT minimum). At the end of each month I take anything over $27,000 and transfer it back to my checking account. This strategy has become a money tree for me. When I could consistently transfer at least $2000 per month back from IBKR to my checking account, I felt I could go public with the strategy on C2. I am continuing to refine my technique and improving it. Lower volatility and higher upside now that I am on C2 is my goal using a separate scaling account. My max drawdown before C2 was about $2000 because I did not want to have to replenish the PDT account. This apparently is much more volatility than the subscribers from C2 desire. I am adapting. My $1500 drawdown freaked my subscribers out. My statistics currently state only a 1% chance of a 10% drawdown and 0% chance of anything greater (based on a 32 day history). What you have seen so far, as far as drawdowns from me, is as bad as I want it to ever be. I am adapting to the platform. This is my goal. No guarantees. Just keep watching. I am dead in the water and can’t day trade if the account falls below $25,000, that was my hard maximum before. Maximum drawdown goal is even less now.
Am I understanding correctly that your goal is roughly 7% return a month without ever having a drawdown of more than 8%? That seems too good to be true to me.
1 Like
So, after 32 days approximately, here are the results. 5.8% return even after a 6% drawdown. Am I being unrealistic? Just keep watching. 7 more trading days left in September.
Today’s loss of .9% was better than SP500 loss 1% and TSLA loss 1.5%. I am improving loss management too.
Hey if you think you can do it and can that is fantastic. I do think extrapolating returns from such a short period is a bit unrealistic in most scenarios. I hope I’m wrong for you. If I am I would love to subscribe. It just seems too good to be true to me.
I don’t want to have unrealistic expectations. C2 is new to me. Wait. Watch. I am very interested in the feedback. It helps me improve and know what is on the potential investor’s minds. If I can produce $2000 profit per month off of a $27,000 investment consistently, what should I charge subscribers per month?
Subscribers will believe it the more you do it. I would say start small on the fee then if you do manage to make that much consistently month after month you could probably raise the price overtime and not lose a single subscriber. However, as of now most people will see those numbers as hot air. As of now you have 0 for 2 months with a 7.4% profit (2k/27k). Of course it has only been about 34 days of full trading so far.
I do have 34 days under my belt on C2 at 5.8%. Keep watching 2 or 3 more months down the road and if I bear fruit that would be approximately $6000 or $8000 each my subscribers would have received if they didn’t scale. It’s all hot air right now. Except we do have 1 month in out of the 3 or 4 months to obtain confidence so it is 1/3 or 1/4 real. If that makes sense?
