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Mike,
Could you please elaborate? Specifically, what do you mean when you say:
I prefer to trade futures because it eliminates 99.9% of the tax
paperwork in the US.
I didn't realize the reporting was different on stocks and futures trades in
the US
Thanks!
----- Original Message -----
From: "Mike" <sfclimbers@xxxxxxxxx>
To: <amibroker@xxxxxxxxxxxxxxx>
Sent: Wednesday, October 22, 2008 8:30 PM
Subject: [amibroker] Re: Semi-OT: Portfolio Manager for frequent Swing
Trading
> Steve,
>
> I'll defer to Dennis' reply on that. I don't personally have any
> experience trading from an IRA.
>
> Mike
>
> --- In amibroker@xxxxxxxxxxxxxxx, "Steve Dugas" <sjdugas@xxx> 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@xxx>
>> 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@> 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
> directly to
>> > SUPPORT {at} amibroker.com
>> > *********************
>> >
>> > For NEW RELEASE ANNOUNCEMENTS and other news always check DEVLOG:
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>> >
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>> >
>> > *********************************
>> > 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
>
> *********************************
> 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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