How are you recording the trades for the taxman?
I scale in and out of trades and keep a running record of the average cost for tax reasons. Excel spreadsheet thats a pain in the ass but at least I have a paper trail if I get audited.
Trading ETFs using Amibroker
- Thread starter Sigue!
- Start date
I scale in and out of trades and keep a running record of the average cost for tax reasons. Excel spreadsheet thats a pain in the ass but at least I have a paper trail if I get audited.
I provide the folks who prepare my tax returns with whatever detail they request which has never been anything I couldn't dump from the broker. So far no issues. I have been trading more frequently in the past 5 years than I did in many of the prior years, but they seem to have the capability of putting all the pieces of the more complicated transactions together.
How do you do your scaling?
How do you do your scaling?
Last edited:
It Varies depending on how I'm trading.
Rght now with the market not really showing which direction it wants to go I'm entering with a partial position and adding to it if I like the direction. I might add to a position if it gets close to my stop and then moves in my direction.
If the market is in an uptrend I'm more than likely to take a full position right off the start.
I'll exit when the trend breaks.
If the stock takes off I might scale out. 1/3 into strength, 1/3 on a trend line break and the final 1/3 at a MA. It varies with what the overall market is doing.