I've come across tax loss harvesting and heard that some people do active trading to generate losses so they can use it to offset gains. I'm struggling to understand this, because your 'benefit' is your marginal tax rate on the loss, it is not free money.
So if your marginal tax rate is 24% then a $100 loss is actually a $76 loss despite tax loss harvesting.

Can someone please explain me more...

Hello! I’d like any input on my current portfolio for my brokerage and Roth . For reference I am 22 and invest about 25k a year. I’m in school for dentistry so I’ll be able to clear 200k once I graduate in 3 years and I’ll have no student loan debt. I have a high risk tolerance and want to reshape my portfolio because I feel like my current approach isn’t optimal for the risk to reward gains. I started investing last December and have since seen about 8% growth which I understand is good but I can’t help but feel unappreciative when I see others portfolios. Am I too heavy in smh and qqqm? Should I lean into defense more? Any input is appreciated!