Recent content by dumbgai

Tired of talking to newbies trading 50k accounts. Looking to make friends with guys who have been in the business for at least 5 years and are successful. I fit that category. If you do too, leave me a message.

yeah reported as a trader last year and asked for an election starting this year, no prob with that. i'm unfamiliar with some finer details of the MTM process.

Did you use his sample tax returns? Does it have any individual MTM trader tax returns?

I plan to do the taxes by myself as a MTM trader. This is my 1st year and I have a few specific questions. Anyone has a good recommendation for a service that understands traders taxes?

Can anyone else confirm this. MTM traders can carry forward their losses to future years and pay less taxes in future years.

I see, so mark to market does not carry forward.

Does mark to market accounting carry forward? IE if in 2008 you have a loss of $200,000 and other income of $50,000, will you be accredited with a loss of $150,000 going forward to 2009? IE If in 2009 you make $150,000 from trading, does the net loss from 08 carryover and cancel it out?

hey im not saying im a breakout trader. im just saying today looks more liek a range day than a trend day.. i hope im wrong because i do have some long positions.

too many headfakes, wont be surprised if we close around 0

comments?

looks like this morning was the greatest buying opp of this year too bad i was too scared to long the open