Accounting Software

Aquajim · Oct 16, 2003

I am in my second year of trading and have been keeping track of trades on an Excel spreadsheet. What accounting software would you recommend that I could use for daily transactions that would be compatible with Tax Cut or similar programs?

Thank you

m618 · Oct 16, 2003

I use Quicken to track my futures trades.

TradeLog for stock trades, as it calculates wash sales properly, while Quicken/TurboTax does not.

-- M

trader333 · Oct 16, 2003

For futures trade you don't need any accounting sw because your broker issues a p/l statment and only shows you p/l for the year. For stocks I use tradelog and I am using it for the past three years without any complains

m618 · Oct 16, 2003

True.

I track in Quicken so that I can verify the broker statements.

-- M

Aquajim · Oct 17, 2003

Thank you for your input. Tradelog does everything I need. Now, is there anyone out there that runs a Mac? Tradelog does not work on Mac's and unless Apple comes up with something better then Virtual PC I would be forced back into a new PC.

Jim

laziz314159 · Oct 17, 2003

Quote from James Hensinger:

Thank you for your input. Tradelog does everything I need. Now, is there anyone out there that runs a Mac? Tradelog does not work on Mac's and unless Apple comes up with something better then Virtual PC I would be forced back into a new PC.

Jim

out of curiousity, what charting application are you using on the mac?

--laz

Aquajim · Oct 17, 2003

I do not use any charting application. My trading is done via Schwab's Streetsmart pro platform and the tv. And yes, I am making money into my second year.

Aquajim · Oct 17, 2003

I am using Streetsmart Pro from Schwab and Virtual PC to keep it running.

Jim

laziz314159 · Oct 19, 2003

Quote from James Hensinger:

I do not use any charting application. My trading is done via Schwab's Streetsmart pro platform and the tv. And yes, I am making money into my second year.

Didn't mean to put you on the defensive.. I really like mac's, but I'm locked into a pc solution.. A dual G-5 with twin 21" cinema displays would be oh-so-fine.

Best Regards,
Laz

Aquajim · Oct 19, 2003

Yikes, I thought that first message didn't go through and was glad after I read it. That was why I sent the second one. It really sounded bad. But, I am happily plugging away at the trading and am improving each quarter. Now I know why the failure rate is 85% or more. Love trading, just hate learning everything the hard way.

Jim