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(a) Card #1 = 13/52 chance Card #2 = 13/51 chance Card #3 = 13/50 chance Card #4 = 13/49 chance (b) Card #1 = 52/52 chance Card #2 = 39/51 chance Card #3 = 26/50 chance Card #4 = 13/49 chance I'd say B looks easier

It does work... they offer sub-standard charting and data and it works sub-standardly. Whats the problem?

Maybe you guys would have less problems if you'd quit trying to use your broker as a data provider and paid an actual data provider to provide you with data. I think those of us who use IB for doing what they do best, sending orders and getting fills, have very few problems to complain about.

You're completely contradicting yourself. You refuse to believe in evolution because you say there isn't any credible proof it exists... but you'll believe in God even though there isn't any proof God exists. Seems like you're only demanding proof for concepts that you don't agree with...

I have both and overall actually prefer the PC for trading, although the Mac does tend to boot up slightly faster and seems slightly more stable. I can't really say one is faster than the other. Obviously almost every trading program written out there that's not written in Java requires...

LOL... you guys are awesome... I started off posting to this thread because I thought I had a pretty decent handle on this stuff and was trying to help someone else... turns out I needed just as much help... Thank goodness I don't do my own taxes. I officially vow to never make another post...

Close but not quite... for futures transactions only... you would pay 60% at the maximum long term capital gains rate of 15%: ( $10,000 * 0.60 ) * 0.15 = $900 and 40% at the maximum short term capital gains rate of 35%: ( $10,000 * .40 ) * 0.35 = $1,400 So that would be a...

Ok, well in that case I officially amend my original post from: to: ...if you ever lease or buy an exchange membership all your gains will be counted as earned income and you'll be obligated to pay self-employment taxes on it. Hopefully thats a much more accurate statement.

So let me see if I got this straight, because I am certainly not beyond admitting that I am wrong... are you asserting that exchange members still pay the 60/40 blended rate but are obligated to pay self-employment taxes on ALL of their trading gains (somewhere along the lines of 15.3%) in...

Yikes, I can't believe I wrote that... thank you very much for correcting me... my bad. Here's the section from Robert Green's website to support what you are saying:

That is not correct. Regardless as to whether or not you incorporate, you can still deduct all of your trading related operating expenses against your tax liability. Regardless as to whether or not your incorporate, as long as you don't lease or own an exchange membership, you still pay the...

I think its also worth noting that there seems to be a lot of misconceptions floating around regarding the advantages of setting up a corporate entity for the purposes of trading. There is no separate tax code regarding securities and futures transactions for individuals and corporations...

Oh and don't forget that in addition to it being counted as earned income, its also subject to self-employment tax. For those earlier poster's who were non-believers, here are a couple snippets from Robert Green's website:

Lots of people have been burnt many times by many different firms that have both blown up due to poor risk management as well as less than scrupulous business practices. That's not to say there aren't very good ones out there, but I would highly recommend going with one that is highly reputable...

I confirmed this last year with Robert Green when I was trying to decide between leasing a full membership or going with an ECM, so I can tell you with absolute certainty that unless something has changed within the last year, that if you lease or purchase an exchange membership with a futures...

Thats correct, however, if you lose you can only deduct a maximum of $3,000 per year and you lose the preferential tax treatment if you ever lease or buy an exchange membership.

The only good accountant I know who specializes in trader taxation is Robert Green. http://www.greencompany.com/

You absolutely cannot do that. If you missed the deadline you're just going to have to eat it for the year.

They changed their margin policies last week: Margin Changes In the interest of ensuring the continued safety of IB clients, IB is modifying certain margin policies to adjust for the unprecedented volatility in financial markets. Please monitor this web page for alerts and updates...

I'm not saying its impossible to do for equities if you're just an individual investor... but its nearly impossible. Your best bet is going to be to write to some BD's API IMHO. The big problem is that unlike futures, there are tons of trading venues you'd have to write to... aside from the...