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Steve,
Green does my trading taxes for my partnership.
When trading in an IRA account, there is no IRS tax paperwork to worry
about as long as you have not borrowed any money on margin (Taxes are
due on the profits from the borrowed amounts). All you need to do is
get good fills on double long ETFs or double inverse ETFs to get the
long/short bang for your buck.
BR,
Dennis
On Oct 22, 2008, at 5:07 PM, Steve Dugas wrote:
> Hi Mike - I bought Green's book a couple of years ago, have been
> getting
> e-mails to join his conference calls ever since 8 - ) These
> "restricted
> margin" IRA's are not true margin accounts, i.e. you can't borrow
> money or
> short stocks, the main thing they offer over the IRA's of other
> brokers is
> that T+3 is effectively waived, you can close one trade and open
> another
> without waiting the usual 3 days for the funds to settle like a cash
> account. The ban on shorting is not a problem with ETF's as you can
> just go
> long an inverse ETF and I was wondering if anything like that might be
> available for futures, but per Grover they allow us to actually
> short the
> futures. Are you thinking there may be some tax consequences to
> shorting
> futures in an IRA? Thanks!
>
> Steve
>
> ----- Original Message -----
> From: "Mike" <sfclimbers@xxxxxxxxx>
> To: <amibroker@xxxxxxxxxxxxxxx>
> Sent: Wednesday, October 22, 2008 2:43 PM
> Subject: [amibroker] Re: Semi-OT: Portfolio Manager for frequent Swing
> Trading
>
>
>> There's a conference call most Thursdays in which trader tax issues
>> (including trading your IRA) and hedge fund formation/management are
>> discussed. For example, last I heard, you can't use margin within an
>> IRA.
>>
>> It's largely a means for the hosts to try and drum up new business
>> for
>> themselves, and as often as not ends up with "set up a consultation
>> with me for more detail". But, it is question and answer based and
>> they will directly answer some of the more direct questions.
>>
>> It may be helpful for your initial explorations.
>>
>> http://www.greencompany.com/EducationCenter/
>> InteractiveOnlineMeetings.
>> shtml
>>
>> Mike
>>
>> --- In amibroker@xxxxxxxxxxxxxxx, "Steve Dugas" <sjdugas@xxx> wrote:
>>>
>>> Thank you Dennis, just shrinking the paperwork is a pretty good
>> reason to switch. 8 - )
>>> BTW, would you happen to know about trading futures in an IRA? Can
>> it be done? Can one somehow use futures to go short in an IRA? Thanks
>> again!
>>>
>>> Steve
>>>
>>> ----- Original Message -----
>>> From: Dennis Brown
>>> To: amibroker@xxxxxxxxxxxxxxx
>>> Sent: Tuesday, October 21, 2008 5:57 PM
>>> Subject: Re: [amibroker] Semi-OT: Portfolio Manager for frequent
>> Swing Trading
>>>
>>>
>>> Steve,
>>>
>>>
>>> With stocks and options, you have to reconcile and show every
>> transaction in your account during the year on Schedule-D. For an
>> active trader, this can amount to a lot of work matching trades and
>> figuring out special situations like mergers. With futures
>> (commodities in IRS speak), the broker just gives you a statement
>> that
>> says you made x dollars in the year on Y commodity (like the S&P 500
>> or Silver)... end of story. You fill out a different one page
>> schedule --not Schedule-D. Stocks are considered individual
>> investments. Futures are considered a hedge for real stuff as a
>> business need for producers. Futures speculators help keep the
>> commodities prices liquid and at a fair price which helps the economy
>> run smoothly.
>>>
>>>
>>> BR,
>>> Dennis
>>>
>>>
>>>
>>>
>>> On Oct 21, 2008, at 5:18 PM, Steve Dugas wrote:
>>>
>>>
>>> Hi Dennis - I have been thinking about trying futures lately, I
>> know they get the beneficial 60/40 tax treatment but I never knew the
>> paperwork was so much easier...could you briefly explain what the IRS
>> requires for futures? Thanks!
>>>
>>> Steve
>>> ----- Original Message -----
>>> From: Dennis Brown
>>> To: amibroker@xxxxxxxxxxxxxxx
>>> Sent: Tuesday, October 21, 2008 3:19 PM
>>> Subject: Re: [amibroker] Semi-OT: Portfolio Manager for
>> frequent Swing Trading
>>>
>>>
>>> Hello Ken,
>>>
>>>
>>> I am a frequent trader. I use thinkorswim as a broker. I use
>> their built-in tools for all actual trade accounting, including tax
>> prep. Actually tax accounting is such a pain, that I prefer to trade
>> futures because it eliminates 99.9% of the tax paperwork in the US.
>> To get an equity curve, I input my account basis and liquidation
>> value
>> in a spreadsheet each night. It only takes about 5 minutes. I also
>> keep a trade log of my trades each day for my own learning purposes.
>>>
>>>
>>> There is no connection between TOS and AmiBroker programs.
>>>
>>>
>>> Best regards,
>>> Dennis
>>>
>>>
>>> On Oct 21, 2008, at 3:47 AM, Ken Close wrote:
>>>
>>>
>>> Google searches produce nothing useful, so I would like to
>> ask this question of frequent swing and day traders: what software
>> do
>> you use to track trade results (closed trades especially but also
>> open
>> trades)? Does it include calculation and display of a total
>> resulting
>> equity curve? Does it help in any way for collecting and exporting
>> reports for use at tax time? Does it integrate with Amibroker or is
>> standalone? Please note that I am not asking about the backtesting
>> and resulting listing of trades and their statistics in Amibroker,
>> but
>> rather the recording of real trades made and closed over time.
>>>
>>> As background to the questions, as I consider a more
>> frequent trading system compared to mutual funds and positions held
>> for many weeks if not multiple months, one that might make trades
>> lasting weeks at most and perhaps only days, my mind boggles at the
>> recordkeeping involved. With potential trade volumes in the 10 to 30
>> per week, the data entry starts to seem formidible. Surely some
>> (many?) on this list do this all the time, and I would appreciate
>> knowing something about your recordkeeping system(s), not your timing
>> systems (:-o).
>>>
>>> Now before TJ jumps in here, I just reviewed the AB Account
>> Manager Help page. This seems like it is what I am asking for, but I
>> wonder if anyone uses it for their real work, and if its
>> "limitations"
>> (one level of undo, chronological entry order, not clear whether
>> reports can be exported or not) inhibit it for the purpose I am
>> asking
>> about. If you use something else, it must offer benefits pveer the
>> built-in Account Manager---what are they?
>>>
>>> Is this enough information for you to respond? Thanks for
>> sharing.
>>>
>>> Ken
>>>
>>
>>
>>
>>
>> ------------------------------------
>>
>> **** IMPORTANT ****
>> This group is for the discussion between users only.
>> This is *NOT* technical support channel.
>>
>> *********************
>> TO GET TECHNICAL SUPPORT from AmiBroker please send an e-mail
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>> For NEW RELEASE ANNOUNCEMENTS and other news always check DEVLOG:
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>>
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>>
>>
>>
>>
>
>
>
> ------------------------------------
>
> **** IMPORTANT ****
> This group is for the discussion between users only.
> This is *NOT* technical support channel.
>
> *********************
> TO GET TECHNICAL SUPPORT from AmiBroker please send an e-mail
> directly to
> SUPPORT {at} amibroker.com
> *********************
>
> For NEW RELEASE ANNOUNCEMENTS and other news always check DEVLOG:
> http://www.amibroker.com/devlog/
>
> For other support material please check also:
> http://www.amibroker.com/support.html
>
> *********************************
> Yahoo! Groups Links
>
>
>
------------------------------------
**** IMPORTANT ****
This group is for the discussion between users only.
This is *NOT* technical support channel.
*********************
TO GET TECHNICAL SUPPORT from AmiBroker please send an e-mail directly to
SUPPORT {at} amibroker.com
*********************
For NEW RELEASE ANNOUNCEMENTS and other news always check DEVLOG:
http://www.amibroker.com/devlog/
For other support material please check also:
http://www.amibroker.com/support.html
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