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Yes, an LLC when formed that year is "exempt" from the April 15 deadline. You just elect it in the "books." Just be aware of the advantages/disadvantages of MtM for both stocks and futures. And that it is quite a hassle, if not very difficult, to change your election.

Ahhhh overtrading...the bane of traders... Usually from greed, boredom, or need to fulfill that high you get when you're in a trade (not unlike a gambler)... ...Look within, not out!!!

Thanks for the replies both of you, both recommending books by the same author. Have you guys read these books and found them to be useful? What did you think about them?

Does anyone know of a book that gives percentages of various technical setups? ie. the probability and return of prices 1-5 days after a high volume reversal, etc. There are tons of TA books out there but I haven't come across one like that. Also, I've seen these kinds of stats in the...

Just because you have not or chose not to elect MtM has nothing to do with whether you choose Trader in Securities as your occupation. So even though the 4/15 deadline has passed, you can still be a "Trader in Securities" and deduct expenses as a trader without the 2% limit. Your accounting...

Oops sorry...my stupid mistake for making posts at 2am!?!

No one has said trading, thats too interesting...

If they don't pullback, usually they won't be good low-risk entries. And it happens. You misunderstand. Obviously adding to that winning position would have increased your profit. But often times, you'll find that you've added to an overextended stock which may eat away at your original...

From the IB website, unless this has changed: Do you charge for a wire transfer from my IB account to my bank? No. IB does not charge for wire transfers out of your account.

Conversely, you deserve to stay on this board if you are nonchalant and swing trade with Morgan Stanley Premium Services and never watch your expenses!!! Congrats if you do! Try Freetrade.com, an Ameritrade affiliate. The commissions are compelling but its totally internet based to get...

So their net is 250 basis points for all that risk? You earn that much on a CD...

Ok, thats a little morbid! But it is fun to see all those governmenites nod off in the background during his speeches. The last time had me a little worried - I could swear that lady was gonna get a whiplash sooner or later...

That was my first thought, LOL... There's gotta be someone better suited for this job... Anyone?...Bueller?...Bueller?......

If you're a swing trader, then you add to a position only when there is a pullback to support and volume lighten ups nicely on the pullback. The chart must remain intact as it did when you first bought the stock for a swing trade. You're not a momentum trader, so you do not add simply...

Taleb vs VN on selling or buying options... Taleb says that he will never blow up and suffer the devastating loss that those selling premium will... But to me its all a matter of velocity or rate of this loss of capital. Taleb is draining capital at a slow rate, and is funded only on...

VXN & VIX are getting pretty low here... any opinions on whether were entering a lower trading range on the volatility indices as we unwind the war premium? or are we just in the process of topping out as usual in this bear market, despite what all the talking potato heads are saying about...

Again, from form 2210, unless I'm misunderstanding things, you don't need to guesstimate your profits. All that is required for estimated taxes is that you pay the smaller of the tax amounts of the current tax year OR previous year. ie. if you make $80,000 in 2002, but end up making $100,000...

Straight from Form 2210, Underpayment of Estimated Taxes, the calculation for penalty is Underpayment Amount x Days Since Underpayment/365 x .05 or .06. What are these additional penalties that you say you are paying?

If you don't "prepay" taxes, I'm assuming you mean making the estimated quarterly tax payments. The IRS will penalize you, but its not really a penalty. They just charge you for interest (treasury rate or so) on how much you should have paid quarterly. It's my understanding that most...

Do you think you'll get anywhere near what Michael Gibbons is asking for his system? >>>>>Gibbons' Value Trading Method (VTM) $3,500,000.00 You get full disclosure of Michael Gibbons' proprietary Value Trading Method that earned him the prestigious 2002 Timer Digest Timer of the Year...