Lee W
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Posts posted by Lee W
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14 hours ago, badhairdude said:Best course of action to wait for a fix? Or how do we go about reverting to an older version?
To install an older version, you should be able to simply download the file and run it to install. I've done this before (and reverted back to an older version). It installed in the same directory and all of my settings remained intact. I would do the following as a precautionary measure:
To update your software, I recommend first doing the following:
- Make sure you've saved your Desktop in DAS.
- Next, go to Tools>Back Up Settings. It should save a copy of your DAS settings to your PC/Laptop desktop.
- Finally, I make a copy of the entire DASTrader Pro folder located on my PC's hard drive and paste it somewhere else. If something goes awry, you can always copy everything back over to the folder and not miss a beat.
Go here to grab whichever version you want: DASTrader Pro IBCO download page
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2 hours ago, Abiel said:@Anders shared this link in the chatroom with older versions of DAS:
This is VERY helpful. I’m bookmarking this. THANK YOU!
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2 hours ago, Louis B said:usually when i left click the level i just made (with no box with x at both ends of it) absolutely nothing happens... if i right click for config/remove menu... if i choose remove nothing happens... if i choose config... i can go thru the process to, lets say, change the color of the level i enetered... but nothing happens.
i also get nothing happening when i make a zone in box on a chart ... the box is there and thats it.. sometimes it works.. mostly not... very frustrating and slows down mornings
Louis - if I make a level, then click somewhere else in the chart, the little boxes disappear. If I then left click the line, the little boxes reappear at both ends and then I can right click the line to remove it or I can drag one of the boxes to move the line higher or lower. Does it not work like this for you?
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8 hours ago, onosendi said:Mine is a little buggy too. I don't have your issues, but my trend lines jump around sometimes, and I can't remove a line with global setting enabled.
Since the global line feature was enabled, removing a line is different for me. I noted this in my video, but I found that you have to first select the line and then you can remove it. So I left click the line and it will give me those little boxes on the ends. Then I right click and remove the line.
If you haven’t tried that, give it a shot.
I have marked the video to start directly at the spot where I reference it. You’ll see when I left click the line, the little boxes on the ends of the line appear. That shows the line has been selected. Then I right click and choose remove
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10 hours ago, Abiel said:Since the latest update I´m getting a hand cursor in DAS charts, there is nothing in the chart where the hand appears. If double click it opens line config. If I want to zoom when hand active, zoom doesn´t work, just draws the rectangle. I have the option "double click to trade" active and it doesnt work with hand active. In some cases, there are so many places with hands and it is so difficult to get a spot to get the arrow cursor and right click for menus like config. Also is difficult to get confing lines.
DAS Support answer: dev says this has been fixed for the next version. If we release a beta version before the next full release, I will let you know.
Abiel, I have the same issue. I noticed it on the chart for MTCH. It’s as if there’s an invisible line drawn there but it won’t remove. I was going to send DAS a video showing it, but glad they already know. Thanks for posting this!
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10 hours ago, CLSS Traders said:Would just like to clarify something. If i enter a trade at 1000 shares it would cost me the flat fee and every time i scale out of my position at say 200 shares a time this would cost me the flat fee every time I scale out at this rate as well? just want to get an idea of what my commission fees would be on a trade like that. Thanks in advance for any assistance that is provided.
You got it. On a per-ticket fee structure, like the $2.95/trade with Speedtrader, you'd pay $2.95 when you enter and $2.95 each time you scale out. Keep in mind that the $2.95 does not include routing and regulatory fees. So the $2.95 will actually be a little bit more. Those extra fees are usually VERY small, though. A per-ticket fee structure may not be cost effective if you intend to do a lot of scaling in/out.
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1 hour ago, Norm said:Lee, thank you for taking the time to get this done. Your conference calls and work with DAS has saved time for all of us. What was one of the most monotonous tasks of the day, creating-saving-loading lines, has become so much easier. I know this is saving me at least 5-10 minutes a morning, every morning. Thanks again for spearheading this and making sure that it was done correctly!
Thanks, Norm! It was my pleasure to help get this completed. I'm glad they listened and worked with me.
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An update is available. This one includes the awesome Global Trendline feature. If you're not familiar with the feature, watch the video below.
The release notes show the following changes to DASTrader Pro. You can click this link or read them below: DAS Trader Pro Release Notes
2018-08-01: 5.2.0.31 Release Notes
- Bug fix - today's day candle doesn't show before market open.
- Bug fix - last price line doesn't show in log scale.
- Added hotkey to increase/decrease vertical margin.
- Added trend lines sync feature so that trend lines drawn on one chart window can be drawn on all other chart windows with same symbol.
- Trigger orders now support options.
- Added save/load column width to Trade Log window.
- Bug fix - switchTwnd hotkey stops working after switching over all pop out montage windows.
- Added SELLCOVER hotkey to cover positions only.
- Added image to menu items.
- Bug fix - Positions window can't save column width.
- Fixed H/L indicator premarket problem.
- Added option to "Merge same time and exchange" for time sale window.
- Market viewer: improved real time sorting performance.
- Bug fix - when 2 options windows show the same underlying symbol, the 2nd options window can not display all expiration date tabs.
- Added configuration to not sync time.
- Added configuration to merge trades in time and sale window.
- Bug fix: script trigger order wasn't sent if CXL ALL script is in the front and there are open orders to cancel.
- Bug fix: for Options Chain window, converted expire date to market time (used to be local time).
- Added new clicking area on window border, when clicked will show/hide title bar. Its color can be configured in Setup->Other configuration.
- Added window border color configuration in Setup->Other Configuration.
- Added LinkTo hotkey that can be used to start dragging and dropping Montage window's anchor.
- Fixed Imbalance window and Montage imbalance ticker refresh problems.
- Changed Imbalance window title.
To update your software, I recommend first doing the following:
- Make sure you've saved your Desktop in DAS.
- Next, go to Tools>Back Up Settings. It should save a copy of your DAS settings to your PC/Laptop desktop.
- Finally, I make a copy of the entire DASTrader Pro folder located on my PC's hard drive and paste it somewhere else. If something goes awry, you can always copy everything back over to the folder and not miss a beat.
To update, go to Tools>Auto Upgrade. It will prompt you and complete the update to version 5.2.0.31.
Good luck!
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On 7/22/2018 at 2:09 PM, Robert H said:I've noticed the same! It really depends on the stock, liquidity at that moment, etc. @Lee W knows how to display regulatory fees separate from the Comm/Fee in the IB report. I believe you need to create a custom report.
Examples from Friday:
GSK bought 200, Comm+Fee: 0.74, per Share = 0.0037
MU bought 400, Comm+Fee: 1.47, per Share = 0.0037
SKX bought 400, Comm+Fee: 2.32, per Share = 0.0058
SKX sell 133, Comm+Fee: 0.54, per Share = 0.0041Robert is correct.
20 hours ago, Jason W said:It would be very helpful if we can display regulatory fees separate from comm/Fee, then we can know how the fees are charged and why some trades cost almost twice as much as other ones.
Thanks man !!!
I will ask Lee tomorrow.
Jason, here's what you do. Log in to the IB Acct Management page. Go to Statements. To the right, you'll see Create Custom Statement. Click that. On the next page, give the statement a name (maybe Commissions and Fees). Under "period," choose Daily. Then, in the "sections" at the bottom, click Commission Details. A check will appear showing you've selected that one. It is the only one you need to select. Next, mark any of the "Section Configurations" you want. You don't have to choose any. Click "continue" at the bottom right. You'll then get to review you choices. Click "create" at the bottom right. Next page, click OK.
Next you'll be taken back to the Statements page. You'll see the custom statement off to the right. Click the little arrow to the right of the statement name. It will run the statement for whatever date is in the field (in the list of fields).
This report will show you the total commission as well as the breakdown of broker charges and third party charges.
Hope that helps!
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8 hours ago, Marek L said:Lee,
thanks for the pointers. Sounds like I need to do more home work and maybe a consult with Robert Green would help move things in the right direction. I read somewhere MTM election the first year of day trading does not need to be done in advance so hopefully I can get all this straightened out as I move along to live trading later this year.
To elect MTM, you have to do so when filing the prior year taxes. The last part in this link tells it:
https://greentradertax.com/trader-tax-center/trader-tax-status/section-475-mtm-accounting/
Basically, for tax year 2018 (you’ll file taxes in early 2019), you would’ve had to have made the election with your filing by April 17th, 2018 (when you filed your 2017 taxes).
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1 hour ago, Marek L said:Anyone read the book that Robert Green put out on Trader taxes, is it worth the $60?
I plan on trading full time so am guessing trader status will be beneficial...my understanding is the main change will be that income changes from investment income and is no longer taxed as capital gains but as earnings from self employment, and therefore you get to write off business expenses e.g. home office, costs of trading, PC, subscriptions etc as long as they exceed the standard deduction, as well as deduct health care premiums and contributions to a qualified retirement savings plan from your pretax income. That seems much better than e.g. itemizing healthcare premiums over $7500.
Since 2018 will be my first year as a full time trader I am not sure how to go about the timing as well as filing any required paperwork with the IRS. I might hire a qualified CPA (anyone interacted with GreenTrader Tax?) to get me over the first hump...any recommendations how to go about this?
I will probably use IB as broker since they make tax reporting easier than SpeedTrader. That seems like it could become a sticky point for a full time trader who wants to get trader status with the IRS.
Marek,
Sounds like you’re confusing Trader Tax Status with the MTM election. TTS let’s you write off expenses, but the gains are still taxed as capital gains, not as ordinary income. Therefore, you can only use up to $3,000 of losses against other income. Also, while you’d be considered self-employed, capital gains are not subject to self employment tax
The MTM election is what makes your gains reportable as ordinary income. Trader Tax Status makes you eligible for the MTM election, but you can certainly be TTS without the MTM election.
34 minutes ago, onosendi said:I highly recommend each of you get a paid consultation with Robert Green, as each one of your situations may vary slightly. I learned a lot speaking with him, and it was money well spent.
I agree with what Onosendi said. Robert Green is a wealth of knowledge and a consultation with him would be well worth the money. Marek, I believe you can get started by going to greentradertax.com and purchasing a consultation slot with him.
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Just a bump to remind anyone in/around Atlanta that our meetup is this Saturday, June 30th, at 12pm EST. Details are a couple of posts above.
Current attendees include: Andrew, Brandon, Clay, Josh, Joshua, Larry(?), Lee, Michael, Tiana(?). If you are not in our GroupMe, please let us know if you wish to be added and/or if you plan to join us for our meetup.
I live very close to the restaurant, so I'll plan to arrive early and secure a table.
Thanks!
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I think they're more or less accurate. They're so small, it's almost irrelevant.
When you're looking at the DAS Account Report, the commissions are separate from the other fees. The total, however, does not match IB. If you're on IB's tiered structure, the commission amount in the report is definitely not accurate. For me, the commissions on the Acct Report are $1/ticket.
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Nice, Kyle! Man, you can fit a lot of stuff on that 40”.
Hi kitty!
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The $.002 applies to the shares traded OVER 300,000. So if you trade 350k, the first 300k are at .0035. The remaining 50k is at .002.
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Just a reminder to anyone new in the community that is located in or around Atlanta, we have our meetup planned for June 30th. The details are in the post above.
Currently, we have 9 confirmed attendees that are also in our GroupMe chat. If you are not in our GroupMe, please let us know if you wish to be added and/or if you plan to join us for our meetup.
Thanks! Looking forward to seeing everyone!
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Marek,
Speedtrader is attractive to some traders (with regard to pricing) because of the per trade rate. ST charges $2.95/ticket regardless of position size. With IB, using the tiered plan of $.0035/share, you’d reach $2.95 by trading positions of approx 850 shares. So if you’re planning to trade more than that, ST is less expensive.
IB’s plans are both per share. The fixed is $.005 which includes some other fees, as you mentioned. The minimum per ticket is $1. The tiered plan is $.0035 + fees, and the minimum is $.35 per ticket. For me, the tiered has always been less expensive. As an example of comparison to ST, If I trade 1,000 shares, each ticket will cost me $3.50 +fees (which are tiny). ST would still be $2.95.
I can see the benefit of SpeedTrader, but for now, I’m sticking with IB.
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Looks like we have a meeting place, date, and time.
Taco Maco @ The Prado
5600 Roswell Rd
Suite M-003
Sandy Springs, GA 30342
Date: June 30, 2018
Time: 12pm - whenever
When driving from I-285, you'll head south on Roswell Rd. After the light at Lake Placid, turn right into The Prado. You'll see Taco Mac on your right soon after driving in. Parking is available to your left (across from Taco Mac) in the parking garage. I've marked everything on the maps.
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Josh,
I believe you've got it correct with regard to the time frame. According to the IRS site, April 15th is the cutoff for submitting your election. So by April 15th 2018 for the 2018 tax year (filing in 2019).
The wash sale rule is the main reason, from what I've read, that people choose MTM. Well, that and the fact that you can deduct unlimited losses against other income. However, the wash sale rule only really affects day traders in December/January. The wash sale rule still allows you to deduct your losses, but the accounting is a bit different. The net number is the same, however.
Here's an example taken from the Dummies site. I've included the link, as well:
On Tuesday, you bought 100 shares of LMNO at $34.60. LMNO announced terrible earnings, and the stock promptly dropped to $29.32, and you sold all 100 shares for a loss of $528. Later in the afternoon, you noticed that the stock had bottomed and looked like it may trend up, so you bought another 100 shares at $28.75 and resold them an hour later at $29.25, closing out your position for the day.
The second trade had a profit of $50. You had a net loss of $478 (the $528 loss plus the $50 profit). Here’s how this works out tax-wise: The IRS disallows the $528 loss and lets you show only a profit of $50. But it lets you add the $528 loss to the basis of your replacement shares, so instead of spending $2,875 (100 shares times $28.75), for tax purposes, you spent $3,403 ($2,875 plus $528), which means that the second trade caused you to lose the $478 that you added back. On a net basis, you get to record your loss.
So you still get to account for the losses, it's just a little more tedious. If you have a lot of trades, it can become very tedious. However, software like TradeLog can download all of your transactions from various brokers (including IB) and will do it all for you. With the software, my understanding is that the preparation is rather simple. The main thing with the wash sale rule is if you close a position in December, you shouldn't trade that security for another 30 days so as to not screw with everything from one year to the next. If you trade the same security within the 30 or 31 days (I don’t remember which), the loss is disallowed. That was the main reason they created the rule; people would sell in December for a loss, buy back in January, and write off the loss on their taxes. The IRS put a stop to that with the wash sale rule. It's a little bit of a hassle, I guess, to make sure you don't trade the same security(ies) in January that you did 30 days prior, but other than that, it's no big deal.
Without MTM, you can deduct all of your capital losses from your capital gains and then deduct up to $3,000 of losses against your income. As an example, if you had 20k of gains and 24k of losses, you could use 20k of those losses against the gains, then another 3k of the losses against any other income. You'd have 1k left over that can be carried over to the next year and used against gains/income then.
With MTM, there is no 3k cap. If you have 20k of gains and 24k of losses, it's all reported as ordinary income. So you'd basically use 20k of losses against the 20k in gains, then use the other 4k of losses against other income. It's all the same income with MTM. Salary, capital gains, losses - it all gets lumped together.
I'm not sure what the downside of MTM is. I know that if you decide you don't want to use it at some point, you have to get permission from the IRS to have it revoked.
Some good info here:
https://greentradertax.com/trader-tax-center/trader-tax-status/section-475-mtm-accounting/
and here:
https://taxmap.irs.gov/taxmap/pubs/p550-028.htm#TXMP662b7702
and here:
http://www.tradelogsoftware.com/resources/wash-sales/
All of that is my understanding of sec 475 MTM. I am not a tax professional. Everyone should do their own research and consult a professional to determine what's best for their own situation.
If I’m mistaken on something, please share and let me know.
Thanks!
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MTM certainly has some advantages. My understanding, though, is that you have to file taxes with Trader Tax Status for at least one year before the IRS will allow you to elect MTM for the next year. In other words, TTS makes you MTM eligible. Perhaps your CPA says otherwise, but the vast amount of info I’ve read from reputable sources (Green Trader Tax, for example) says this. On the other hand, the IRS doesn’t state anything that says this. They simply say you file a statement with them that you’re making the election. So if you’ve made that election by April 15th of this year (2018), you’ll be using it for the 2018 tax year (that you’ll file early 2019). Is that your understanding, too?
I know MTM allows you to report gains and losses as ordinary income, thus being able to use losses against other income without a limit. If your only income is from trading, is there any advantage to MTM?
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Hey Josh! Glad to see you post here and look forward to meeting you at our Atlanta meetup, whenever that will be. Join us in the GroupMe chat, if you’d like. Buzz me or Tiana R or Joshua H in the chat so we can get your number and add you. I think Tiana R has her phone number posted in our meetup thread, so you can also text her to get added.
-Lee
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Really great trade, Robert! I’m sorry I missed this one while I was traveling.
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I downloaded GroupMe and have created the group "Atlanta BBT Meetup"
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I'm game. Who else we got?
Link multiple montage windows to charts
in DAS Trader Pro Tips and Tricks
Posted · Edited by Lee W
Wow, you’ve replied to a post from many months ago.
I don’t really think it’s confusing. A few posts back, the difference between hot buttons and hot keys was clearly stated. Hot buttons are on the montage. Hot keys are on your keyboard. Andrew uses hot keys. You create hot keys in the hot key configuration. You create hot buttons by adding buttons to the montage and programming them. A hotkey button would be on the montage.