Thanks Dennis! ----- Original Message ----- From: "Dennis Brown" <[EMAIL PROTECTED]> To: <[email protected]> Sent: Wednesday, October 22, 2008 5:52 PM Subject: Re: [amibroker] Re: Semi-OT: Portfolio Manager for frequent Swing Trading
> 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" <[EMAIL PROTECTED]> >> 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" <[EMAIL PROTECTED]> 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 >> >> >> > > > ------------------------------------ > > **** 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 > > > >
