CS, That was Dennis' comment. Perhaps he can reply?
Mike --- In [email protected], "CSTrader" <[EMAIL PROTECTED]> 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" <[EMAIL PROTECTED]> > To: <[email protected]> > 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 [email protected], "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: <[email protected]> > >> 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 [email protected], "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: [email protected] > >> >> 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: [email protected] > >> >> 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 > > > > > > >
