Daytrading in a ROTH IRA?!

[aaltoippp]

I was curious to know if you could day trade within your own ROTH IRA account, or hold stocks for short periods, 2 days, a week etc.. Since there are no taxes on gains i thought this might be a clever little idea.. I realize I cannot take this money out until I am of age(or first house and maybe a few other ways out).. but it seems like it would be a great way to build that nest egg without paying taxes( you pay taxes upfront for it).

Obviously the downside of this is that I can only contribute 4k a year maybe 5k this year not sure.. so I wont be purchasing a leer jet anytime soon, however, tax free money is, well, tax free.

Am I off my rocker?

PS: I am young and do not depend on this as my source of income.. so please do not think that I am gambling my life savings away and will be homeless in a week. I just would prefer to make profits without paying taxes.

[Adjistyync]

No can do buddy, no margin in an IRA so you have settlement T+3 and of course no shorts. You can trade options though.

[agemuwoy]

Sorry. By definition I guess day trading would need to be on margin. I am talking about just very short term positions.. 5 days.. etc.. and once the cash settles re-up into something else. I would not always have the money working every moment of the day.. but here is why i ask..

The other day i picked up GS at 190.xx and it moved up to 210 and later pulled back, for me in my small account a 20 dollar gain would have been nice to sell and not pay taxes on... would something like this work? Conceptually it would, just not sure if the IRS allows that so I will not be paying taxes on the gain.

Better luck this week to you all.

[aiywqexr47]

oh puuhhhleaase... take your leprachaun fairytales elsewhere.. we dont need your bogus frety of a washcloth attitude toward the market.. we can find that in a dick butkus training video along with xylophones so that uncle barry can sniff sawdust with ease!... imo :stupid:

[AlexSomov]

You can trade and make money just like you can put it in CD's and make money,inside the account the IRS doesn't discriminate. So no taxes on trading gains.