tag:blogger.com,1999:blog-8717542.post1834863001810831811..comments2023-06-26T09:28:07.397-04:00Comments on PinoyTRADER: Leap-forward Capital Investment: Closing summaryUnknownnoreply@blogger.comBlogger4125tag:blogger.com,1999:blog-8717542.post-39913395921527254412008-01-22T18:59:00.000-05:002008-01-22T18:59:00.000-05:00no stop on HOKU?no stop on HOKU?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8717542.post-25125261852580675202008-01-03T20:24:00.000-05:002008-01-03T20:24:00.000-05:00Very nice start to the new year, Pinoy! I don't t...Very nice start to the new year, Pinoy! I don't think those trades were gutsy at all. You definitely have no hesitation in pyramiding, though. Both stocks traded in a narrow range. On the 15-min chart, I could see a liberal $1.00 stop on AKNS and a $0.50 stop on HOKU due to the narrow range before the break-out.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8717542.post-89239726776868639752008-01-03T17:56:00.000-05:002008-01-03T17:56:00.000-05:00Pretty gutsy trade, Congrats! What kind of stops ...Pretty gutsy trade, Congrats! What kind of stops did you put in for your first and second busy?<BR/><BR/>ECAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-8717542.post-12843860504893927572008-01-03T17:41:00.000-05:002008-01-03T17:41:00.000-05:00Hi PT,Really enjoy the blog. Would you share with...Hi PT,<BR/><BR/>Really enjoy the blog. Would you share with us a few general points on how the Leap Forward and Ascend entities are/were set up? <BR/><BR/>I see they're apparently LLCs taxed as partnerships. Are you able to Mark To Market for the entity (and take the liberal business deductions), and then report the remaining profit/loss on sched. K-1 for the partners?<BR/><BR/>Any problems with the IRS treating the LLC's proceeds as "business income" vs. "investment income" which would restrict partners' deductions in a losing year (if you were to ever have one ;)<BR/><BR/>Is there only one partner (you) designated to access the trading account with the partnership's money in order to make trades?<BR/><BR/>Would you prefer a tax attorney or a (trading-experienced) CPA to set up an entity?<BR/><BR/>Does at least one member (in your case, you, the trading member) need to meet IRS tests for trader status to qualify the LLC as a bona fide business (vs. investment club subject to those passive activity rules again).<BR/><BR/>..reason for the questions: A few friends and I have discussed various scenarios over the last few years, and we seem to keep running into a wall (or, at least, a big grey area) when it comes to forming a clear-cut business entity which trades as its business, allowing full business treatment, but is not a hedge fund or professional trading firm subject to SEC regs.<BR/><BR/>Thanks very much for any info/advice.<BR/><BR/>Cheers,<BR/>WillWillhttps://www.blogger.com/profile/08618759080731745057noreply@blogger.com