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CSTrader,
I was as specific as I could be. If you want to know more details,
you need to talk to your broker or accountant, or perhaps an internet
search might yield more.
Best regards,
Dennis
On Oct 23, 2008, at 12:45 AM, Mike wrote:
> 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/
>>>
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>>> http://www.amibroker.com/support.html
>>>
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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.
*********************
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SUPPORT {at} amibroker.com
*********************
For NEW RELEASE ANNOUNCEMENTS and other news always check DEVLOG:
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For other support material please check also:
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