New to this

Am I supposed to take out the profit every day that there is one? A few days ago the return was $60 and now it’s $20 so I guess I missed out. If I take any profit out every day is there some kind of penalty?

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what the hell

I’m serious

Hahahahaha

Maybe watch a kindergarten level investing video before you lose all your money

redeem

No I’ll figure it out

How much do you know about investing? Because there is not a yes or no answer to this, it depends on your goals, risk profiles, investment strategies etc.

Nothing but I assume there’s some kind of tax on this that makes it not worth taking out small profits? I either want to make money or not pay any taxes. If everything I do balances out to zero does that mean I can skip taxes?

the only penalty is the transaction fee, and now you have less invested if tomorrow it goes up more. a good rule is to take out how much you put in once it's gone up 2x/3x/4x/5x (depending on the expected growth)

I’ll do that then

you pay ~40% tax on your profits

take your initial and let the rest ride

You need to hatch more eggs first

use google next time though kid, you'll have 100 more questions that are easily googleable if you stick with this shit. good luck

Taxes depend entirely on your jurisdiction but generally speaking yes, you will have to pay capital gains tax on any profits you make. Some jurisdictions like mine allow you to make up to a certain amount without having to pay taxes on it but without knowing where you live who knows how it works for you.

some people are meant to die poor and to be honest, you are one of them, fucking invest in projects low caps like lox network to get better returns

>$20 profit

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To answer your questions though.
You don't need to take out profits every day. It depends on if you want to do short term plays or long term plays, what your risk tolerance is etc.
>A few days ago the return was $60 and now it’s $20 so I guess I missed out
Sure if you want to sell now perhaps. Maybe in a few weeks it could be $80 or -$40. Prices are volatile in the short term and generally almost impossible to predict.
>If I take any profit out every day is there some kind of penalty?
No. You do have to pay capital gains tax but that's on your entire profits for the tax year not for every individual trade

Thanks I will just see what happens with it before doing anything rash

It's always smart to invest in the low cap but they have to be something with good fundamentals. What makes Lox better? Anyone can easily flip shitcoins.