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I use Sched D. I can tell you that I trade about 1500 trades per year. I do not write off my expenses on a schedule C. I write them off on my Schd A which only allows you to write them off if you exceed 2% of your income. Using a Scd C would allow one to write them all off, but I think there is a fine line regarding the use of a Schd C for purposes of trading. My expenses are not that huge that I would want to take that chance. There is also mark-to-market where you report all your trades regardless of whether or not you sold them at the end of the year.
If one wanted to become a "day-trader" what is the best way to set-up one's business for tax purposes. Do most file on 'Schedule C' of personal tax return, Schedule D, or do they create their own entity (i.e. LLC) and take distributions on 'Schedule E'. Schedule D would not allow you to write off expenses as the other two would. I have tried to find a link that would answer all my questions, but I couldn't seem to come across a decent site. Speaking with an accountant would probably be best, but I am not at the point to where I want to let go of my full time job. This may not be an appropriate question for your board, and if so I do apologize. If there is another board that does touch on this topic, please point me in that direction. Thank you.
yes they can for a certain amount of time - once the time expires they can't - but please post any questions regarding the site to:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=64607540
Can a moderator erase new posts on a board that they are a moderator of? Or does IHUB only have that power?
That is exactly my gripe about that tool. It is useless. When you see it showing as a buy or a sell, the software is "assuming" what the trade was. Here are the actual help descriptions - notice that they use the word "considered":
The 'Buy', 'Sell' and '?' columns - Where the 'Price' is closest to the 'Offer' price, the trade is considered a 'Buy'. Where it is closest to the 'Bid' price, the trade is considered to be a 'Sell'. Where it is dead centre between 'Bid' and 'Offer', it appears in the '?' column; this indicates that the trade cannot be identified as either a 'Buy' or a 'Sell'.
It was on trades column on ihub viewing through my phone... Green is buy and red is sell if I assume correctly, I made a buy today and then went into the streamer and checked trades to see what else was going on and it showed my qty as sell... Didn't know if it was my broker house or what... Just curious, thanks for the info
I am really not following you. Where on a stock specific board would you see prints that state a buy or a sell? The only place I know of is the trades link on ihub and I personally think it is useless. It assumes that prints closest to the bid are sells and prints closest to the ask are buys. Meanwhile I could sell something on the ask and it would say that it was a sell.
It's on the edwy board
What trade board? Are you talking about the ihub trade report link?
Why would a buy show as a sell on the trade board for a stock?
Well I would guess that the company name change is why there is a delay. Call up Etrade and ask them where your shares are. My guess is that they will tell you they are waiting for the transfer agent. Also, did you check you account for a cusip number? Do you see a number with name of the company? You should.
The corporate name changed and the ticker just had a "d" added.
When you say a symbol change, all reverse splits get a "d" attached after the split. Are you talking about an entire symbol change? Did it go through some other corporate action like a name change? That can slow the process down. Sometimes the brokers have to wait for the transfer agent to send them the new shares if there were a change like that.
It did a symbol change also.
it did a 3:1 reverse split
you mean a 1:3 - when it is a reverse the smaller number always comes first. 12 days does sound like a long time - when there is a restructuring some brokers take a few days, but Etrade doesn't usually take that long on a reverse split. Did the company change the ticker and you may not be recognizing the new one? If not, call them up and ask them what is taking them so long. Look in your account and see if there are any cusips in place of the ticker.
On one of the stocks I own, it did a 3:1 reverse split. It's been about 12 days and my shares still don't register in my etrade account. Any rhyme or reason to that??? Should I be concerned?
HELP>>>I used to be able to click on "older posts" at bottom of page to go to earlier posts. Now its gone. How can I review earlier posts? Thanks.
Is it drug and/or alcohol related?
Yeah, that is exactly what I thought. That is why I had the broker call the mm. They claimed even though there was a bid offer there was no market and they wouldn't fill it. It happened one time and never again and it was with a very thinly traded stock. It had no activity for weeks and I got bored with it and decided to just dump it at the bid but they would not fill it.
Could you elaborate on that 'no market'.
If there is a bid in I assume that means what someone is willing to pay and would fill. Otherwise the bid concept is meaningless, no?
TIA
If he/she was trying to sell it at the ask, there is no guarantee of a fill on a sell order there. With the situation you pointed out, I can remember one time putting in a sell order on a thinly traded stock at the BID and it wouldn't fill. Had the broker call up the mm and it was basically a "no market" so it wouldn't fill.
There was probably no one buying. Happens a lot with stocks with that price. It could stay at that ask for days, months or even years without you being able to sell your stock.
you are posting to the wrong board - read the sticky - this board has nothing to do with ihub issues
PCX filed for BK and was delisted to OTCQB. New ticker
is PCXCQ. Please get iHub board for Patriot Coal working
so we can trade, use L2. I'm losing money trying to get out
of this stock!
I have no idea what system you are using - they all use different colors and the one I use can be customized. Are you talking about printed time and sales? My guess would be that green would be a price higher from the last print, red lower, and black the same.
Am still struggling to understand this.....trades show 3 different colors.... Red, green and black. What are they representing?
Thanks. Red means someone sold? Green bought? Black?
Not following you. You bought at .0001 and what were you trying to do at .0002? Buy more or sell your .0001 shares?
I bought shares at .0001 this morning and i set limit at .0002. Well it was at .0002 most of the afternoon but my order was not filled. Any reason why it wouldn't fill??
Yeah, I have it, but it works on the Kindle Fire. Go to Amazon and get it there.
is there a kindle apt for ihub? that really works on a kindle
Hello All .
Anyone know how to remove watch list from monitor in the Ihub apple app.?
Thanks .
Thanks cintrix
That's a good question. I think that you need an initial 2k to open a margin account and if you use that money as cash to purchase equities without borrowing any funds it is ok if the value drops below 2k. But I would check with your broker.
To apply for margin doesn't there have to be a minimum of 2k in your account?
Then does that mean 2k always has to be In your account as a sort of float?
If you change your cash account to a margin account you would not have to worry about T+3 (settlement). You don't even have to use margin in order to have a margin account. But it allows you to use unsettled funds for trading while a cash account doesn't. But one thing you need to know with a margin account is that if you have under 25k in your account they track your daytrading and you can't day trade four or more times in five business days. If you do and your account is under 25k they will put a restriction on your account. If you are a pattern daytrader and have over 25k you don't need to worry about anything.
What options are there to avoid the
"3 day" rule?
depends on what price it is trading at - if you have a stock with an os in excess of say 500M and it is trading over a penny that would be too huge - on the other hand, if it was trading in the double zeros it would make more sense
When looking at share structure, what makes a float large or small? Is there a ratio or percentage that would determine that?
TIA
Maybe this would work. I have never used it but it looks like it converts csv to qif:
http://csvconverter.gginternational.net/
Financial Software question....
I can export .csv files from my platform but importing in Google finance gives me errors now... it also ignores some tickers. Anyone know of an alternative software where I can view my overall gains/losses. Does ihub allow csv import?
Thanks
You can put in your offer at any price you want - even below the bid. The thing is, if you want a guarantee fill you buy it at the ask price. Being that there is such a large spread on this stock I would guess it is thinly traded.
If a stock is trading at .05, the bid price is .035, and the ask price is.06, does that mean I can't buy it unless I pay .06?
Hmm, interesting. Apex from what I understand is what the new platform will be called. Peak6 is the company who they are doing the merge or acquisition or whatever they call it with. Don't know if they are in any way connected. I have a call into my broker from Friday to speak with someone who many know more about it:
About PEAK6 INVESTMENTS LP: www.peak6.com
PEAK6 Investments, L.P. is a leading financial institution with headquarters in
Chicago, and offices in Seattle, New York and San Francisco. Established in 1997,
PEAK6 has a demonstrated track record of success in proprietary trading, retail
brokerage, technology innovation, and risk management. PEAK6 focuses on
innovation, execution prowess and nurtures a highly dynamic, entrepreneurial
culture.
About Penson Worldwide: http://www.penson.com
The Penson Worldwide group of companies provides execution, clearing, custody,
settlement and technology infrastructure products and services to financial
services firms and others servicing the global financial services industry. The
Penson Worldwide group of companies includes Penson Financial Services, Inc.,
Penson Financial Services Canada Inc., and Nexa Technologies, Inc., among other
companies. Headquartered in Dallas, Texas, Penson has served the clearing needs
of the global financial services industry since 1995.
From what I understand Apex is Penson, restructured...soooo, my guess, same fees, same $hitty company.
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