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Strategies & Market Trends : Income Taxes and Record Keeping ( tax ) -- Ignore unavailable to you. Want to Upgrade?

To: Ron Chamberlain who wrote (1519)	11/28/1998 5:56:00 PM
From: Investor2	Read Replies (1) \| Respond to of 5810

Off-Topic, Re: Online Brokers RE: "I started trading in March of this year and I'm now on my 4th online broker. Suretrade, WebStreet, Livetrade and now MBTrading." I assume that you were not happy with your first three brokers. What are your thoughts on online trading? Have you tried Datek? Best wishes, I2

To: Ron Chamberlain who wrote (1519)	11/28/1998 11:24:00 PM
From: Shoe	Respond to of 5810

You can read various complaints about Quicken at this newsgroup: comp.os.ms-windows.apps.financial and perhaps pick up some tips. I bought Quicken 98 and was surprised to find some basic bugs in the way it handles short sales (nor did Turbotax get them right when importing the data from its sister program). Q98 does not seem to recognize wash sales, either, in providing a capital gains report. The main advantage it has for a frequent trader is that if your broker supports the Quicken online function, you can download the trades (and other items, such as margin interest) rather than enter them by hand. Waterhouse is one broker that supports this feature, and it does work. Good luck. -- Shoe

To: Ron Chamberlain who wrote (1519)	11/29/1998 9:12:00 AM
From: Bruno Galliano	Read Replies (1) \| Respond to of 5810

You questions are well put. You do setup an account for each broker. you have the ability to pick lots when you sell. When you sell or buy a stock, you know what the commission rate is, and you enter it as such, for each broker. I use my printer constantly during the day. As I make a trade I print it out. The printout has the shares traded and the gross amount. The gross amounts usually contain all charges etc. At the end of the trading day, I post all of them into Quicken and specify or identify the lots. You can buy many second party books about Quicken. I would surely buy one that was heavy on the investment side of Quicken. There are many on the market. You can spend an off day at Barnes and Nobel etc., or check online at Amazon.com or traders press. The bookeeping for day trading is a hassle, but one you must put up with. It is the law and is as much a part of trading as the trading itself.