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/biz/ - Business & Finance

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16186754 No.16186754 [Reply] [Original]

So,

I am currently a university student studying CS.
I work part-time in a god damn gas station but I really want to earn a little more money on the side.
You see, as a part-timer here you are allowd to earn a maximum of 450€/month.
I pay 75€/month rent, my commute to the uni costs me 80€/month. I have to buy myself some food and all that stuff and in the end it comes down to a weekly cost of about 50€/week.

This gives me about 50€/week of savings IF i get enough shifts that is. Also during my holidays i work fulltime giving me 2k€/month.

So I want to try trading. I want to start with only 1000€ and I was wondering what exactly I would earn with it. I tried stock trading games and made huge profits but these games ignore taxes and all.

Anyway, on a daily bases I see stocks from different companies go up by like 10+% for a few hours.

Lets say some companies stocks are worth 100€/piece and I get one of them.
They go up 10% because of some fantastic news and I sell them.

Now I get back 110€ but what exactly will be deducted from this? How much would I have really earned in that trade?

Btw I am from Germany and I own no business.

Sorry for being an absolute newfag.

>> No.16187796
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16187796

>>16186754

>> No.16187810

>>16186754
As a noob trying to time the market, you're gonna get btfo. Do some actual research, and steer clear of those reddit fags, they'll cost you a lot of money. Not like it's any better here, but you'll atleast get called a stupid nigger if you propose something stupid.

>> No.16188137

>>16186754
Look up capital gains tax in your country. I don't know the laws in Germany but in the US gains from selling stocks you've owned for less than a year are taxed like normal income, while gains from selling stocks you've held for more than a year are tax-free up to a certain amount.

What you are describing is called day trading and it is not really recommended unless you have a lot of time and knowledge, and you are almost guaranteed to lose money compared to just buying and holding stocks.

>> No.16188163

>>16187796
kek