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CS,
That was Dennis' comment. Perhaps he can reply?
Mike
--- In amibroker@xxxxxxxxxxxxxxx, "CSTrader" <cstrader232@xxx> wrote:
>
> 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@xxx>
> 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@> 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@>
> >> 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:
> >> > 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
> >
> > *********************************
> > 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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