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This is a discussion on prospreads.com within the Spread Betting & CFDs forums, part of the Commercial category; Originally Posted by nash02 Isn't it possible to convert your taxable profits at a futures broker by taking an exactly ...

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Old Jun 27, 2009, 2:35pm   #9
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Originally Posted by nash02 View Post
Isn't it possible to convert your taxable profits at a futures broker by taking an exactly opposite position at a SB? Exit both when the futures move against your position at the broker and profits get transferred to the SB ? Of course you have to bear the cost of spreads on both sides but that would amount to about 1%
Yes I think it could be feasible. It all depends on your country's tax policy. In Sweden as private person you can only deduct 70% of your losses but you have to pay 30% tax on futures profit. If the futures trading is within a company (Ltd., Inc., Co.), you can deduct the whole amount you have lost against profit in the company.
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Old Jun 27, 2009, 8:29pm   #10
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Originally Posted by nash02 View Post
Isn't it possible to convert your taxable profits at a futures broker by taking an exactly opposite position at a SB? Exit both when the futures move against your position at the broker and profits get transferred to the SB ? Of course you have to bear the cost of spreads on both sides but that would amount to about 1%
I have been thinking about it again. It is a risky strategy. You will be worst off if your futures continue to increase in value. You will be paying tax for the profit and at the same time you will lose the whole value plus the spread on your SB positions.
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Old Jun 27, 2009, 9:13pm   #11
 
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I have been thinking about it again. It is a risky strategy. You will be worst off if your futures continue to increase in value. You will be paying tax for the profit and at the same time you will lose the whole value plus the spread on your SB positions.
nash02's suggestion is a very good one. You'd have to be very unlucky to get every trade right with the DA broker and wrong with the SB. I know a couple of traders, who have DA and SB a/cs. They utilise this tax hedging strategy.
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Old Jun 27, 2009, 9:42pm   #12
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nash02's suggestion is a very good one. You'd have to be very unlucky to get every trade right with the DA broker and wrong with the SB. I know a couple of traders, who have DA and SB a/cs. They utilise this tax hedging strategy.
Yes could be, still your futures positions might be increasing in value and your SB might lose in value. I didn't actually mean that all your trades on SB were losers and all future positions were winners. I guess you can calculate a stop loss as to when you have to close down your SB positions contra futures positions taxable value. I believe there was as discussion on this subject on the old Futuresbetting thread.
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Old Jul 7, 2009, 8:41pm   #13
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I have a funded account with Prospreads, not happy they stop using Ninjatrader platform last month,
i just downloaded there platform, some limitations if u have used ninja

i having to use demo platform b4 i go live, i met the MD & A Wolley the Sales Manager in LONDON seminar few weeks ago.. had account with them 6 months

I trade futures Emini ES contract & Sweet Crude Oil CL
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Old Jul 8, 2009, 9:48am   #14
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I have a funded account with Prospreads, not happy they stop using Ninjatrader platform last month,
i just downloaded there platform, some limitations if u have used ninja

i having to use demo platform b4 i go live, i met the MD & A Wolley the Sales Manager in LONDON seminar few weeks ago.. had account with them 6 months

I trade futures Emini ES contract & Sweet Crude Oil CL
Dschoon, we have explained the issues with Ninja.
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Old Jul 8, 2009, 10:29am   #15
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yes trying your platform this week on demo
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Old Jul 8, 2009, 12:29pm   #16
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Does Prospreads have a substitute for Ninja with chart trading facility?
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