Alan, Pabst means that 60% of the gains on futures are taxed as a long-term investment and 40% are taxed as short-term. The "Self Employment" forum has more information on taxes, if you are interested. Martin
If you're going to trade the Emini's...be sure you have a live audio feed from the floor...this is the only way to know what is really going on. We have this piped in to all of our locations. If you're going to trade the QQQ'a, be sure to have a trackable basket and lead stock indicator right next to the quote as well. Island fills are usually great. Good Luck!
By live audio feed, I assume you mean something like "marketsound" provided by the CME? I have listened to it before and all it has done is confuse me so far, I guess I don't know how to listen to it properly yet. Is that what you meant?
I don't trade futures yet, but am getting ready to start soon. I know about the 60/40 tax treatment, but don't you have to pay self employment tax too, which is 15.3%? Thanks.
We use a live "squawk box" provided by www.realtimefutures.com - and they do a good job telling us not only pricing, but who is doing what, and often times this additional info helps considerably. They provide a "glossary" so that the terms they use can be deciphered easily. (I am not affiliated with them at all, and there are other services).