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BrianD

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Posts: 302

Joined: 2/23/2013
Location: Grand Rapids, MI

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Subject : RE: Effects of Commissions and Account Size
Posted : 7/16/2017 7:12 PM
Post #36814 - In reply to #36809

As far as commissions, don't see how you can successfully trade in smaller lots without a broker commissions like IB's. Anyway, why pay higher commissions? Also suspect if you call your broker, they may match IB commissions.? BTW, Steve has done some great work on complete IB trade costs in the Forum.

TradeLog is a great tool for cash accounts; following trading activity, costs, and addressing trading taxation issues. Takes some work getting set up (works great with IB). Not cheap, but worth it. Support has been very responsive for me and good tutorials available.

I use a standalone LLC to trade cash accounts in. Some work to do setting up and then moving accounts, but eliminates wash sale issues, which can be onerous...

Comments on Nirvana's role are right on; it is outside of Nirvana's space to guide tax issues and recommend brokers, but they've done a great job with the automated trading and automated interfaces to the broker(s). There is some good info to be found on broker and tax issues within the Forum, and I believe the Forum community can be of help to others on these issues. Took me years to arrive at a good personal state on this stuff through trial and error, but I believe many OV users are willing to help others to get there quickly, so users and Nirvana are successful. Tax and commissions are major trading components, but with some work...

Steve: Thanks for the head up on TaxAct. Very easy to exceed 10M in trades.
Deleting message 36814 : RE: Effects of Commissions and Account Size


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