how many times can i wash sale the same stock in the SAME 30 DAY PERIOD?
i know there are tax implications to wash sales, but is it illegal to wash 2, 3, 4 , 5 times to the same stock in the same month?

(my logic) i dont mind taking the tax implications and the small losses "if" i can get 1 big gain out of it, thats why im asking.

my play scenario is
1st loss .10 per share
2nd loss .05 per share
3rd loss .15 per share
4th profit .50 per share
-----------------------------
profit .20 per share

and i dont plan on holding because it would be a momentum trade penny stock, thats why i was asking

The wash rule is to prevent you from taking a tax loss on a stock and then buying it back the next day. In your example you would have a short term capital gain (taxed as ordinary income). Also this is not tax advice.....please check with your CPA.

thanks, for the reply, i understand its not tax advice, i just wanted to make sure i wasnt doing anything illegal or against the rules.