New trader looking for advice

🤝 Help
1

Hello, I’m a novice who just activated his account. My currency is RON from Romania. My question is :
Can I buy and sell the same stock the same day multiple times without penalties? I heard about the penalty day trade rule, and I wanted to ask here if I should be concerned.
Also, when I withdraw funds into my bank debit account, do I receive the entire sum? Do I get taxed? Assuming I am in romania, which is in the eu, do I have to pay taxes to my government separately?
Meaning, after I receive the money transfer from trading 212 to my bank account, can I use that money as I please? Or do I have to declare it as profit so it can be taxed?
Also, I really want to get the hang of this world, and I want to study as much as possible. If you have any suggestions for books or YouTube channels or anything that would help me, that would be greatly appreciated

Thank you alot :slight_smile:

2 Likes
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Hi. I am from romania too and can help you with information if you want. But shortly yes you need to declare them. At the end of a fiscal year you need ask from trading 212 for the annualized report where it should tell how much profit you made in the last year( price for sell- price for buy). on this amount you need to pay 10% tax at ANAF if the profi is less than 12 minimum salaries or 20% if it is more.

1 Like
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As for the day trading rule i don’t know exactly and I hope someone can clarify. What i know is in the US you need to have more than 20000/25000 USD to be considered a day trader and have unlimited trades

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Also i suggest now withdrawing to bank every profit. Keep them in the trading212 account and roll the profits for longer period of time( it is easier to calculate at the end of the year) but this implies that you don’t fund this account with money that you need in the upcoming year

5

Can we talk on WhatsApp? I have more questions
+40736646430

6

Sure. Let me add you

7

It’s very important at the beginning to set a goal and a strategy and this way you narrow the information to what is important for you.

I am seeking for long-term investing in ETFs and I can recommend you some sources on this idea:

Noroc! :wink:

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thank you a lot for everything
any ideea where i can find more info about scalping that would help me here? I obviously do not want to do it and I want to stay within the bounds and not break the terms of conditions…
can anyone give me a clear explanation as to what scalping constitutes on this platform and what i should not do?

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Not familiarized with scalping and I think you are interested in CFD (I am on Invest account). But related to your concerns:

You can check the whole Client Agreement here (20.1.6.).