IRA Rules

Archive for the ‘IRA Rules’ Category

MarketRiders CEO Mitch Tuchman on CNN “Your $$$$$” with Ali Velshi & Christine Romans

Question: Is The Provincial IRA Considered A Terrorist Group?

Not the IRA of the 1920s that led Ireland away from British rule but the new group that formed in the 1960s afterwards.

Answer: The definition of terrorist is largely subjective. They could be considered such, but it depends on your perspective. As they say, one man’s terrorist is another’s revolutionary. For example, the United States sponsored the mujahedin jihad against the Soviet occupation in Afghanistan on a massive scale, enabling them to undergo terrorist strikes. Then, we called them “freedom fighters.” Now that their guns are trained on us, they are called “terrorists.”

12/29/09 Paula Albertson Talks About New Money Rules on WFLA

Question: Day trading in an IRA rules?

What would be considered day trading in an IRA? Does it have to be the same stock traded, bought and sold in the same day? I do trade in my IRA, I will hold a stock for at least 2 days before selling. If I bought APPL, CIT, and BAC on one day, held them for 2 days or more, then sold one or two and bought BA, CAT, LVLT. Would that be considered day trading? Would trading back and forth between stocks within a week be allowed within an IRA?

Answer: The SEC’s definition of a day trader is someone who makes 3 or more intraday trades in a five business day period. So if you bought some stock and sold them the next day that wouldn’t count. If you wish to make more than 3 intraday trades a week you will have to maintain a 25k balance in your account or the SEC will freeze your account.