Day Trading accounting software

[Paradiso]

I have recently started trading stocks and forex as my primary profession and source of income.

Can anyone recommend a good accounting package for day traders? I looked at Quicken but seems like a lot of manual entry work given the number of trades I do per day especially for forex and commodities.

 

[davede]

I've heard of one called 'stock market plus' from MAUS.

Think it's pretty dated and not sure if it does forex but it's been around a while and seems to be pretty popular with a lot of share traders and investors.

Think they've got a live feed to pull in price data to avoid more manual inputs.

Curious to know what other packages you come across. Feel free to post any of your findings.

 

[skc]

I have recently started trading stocks and forex as my primary profession and source of income.

Can anyone recommend a good accounting package for day traders? I looked at Quicken but seems like a lot of manual entry work given the number of trades I do per day especially for forex and commodities.

Why do you need an accounting software? What are you trying to do with such software?

If you want to analyse your trades, your broker should have statements summarising all your trades, hopefully in a format that can be exported to Excel so you can play around there.

If you want to look at your annual P&L... just look at your broker account balance which should be a closed system.

Profit = Closing balance - opening balance + cash withdrawn - cash deposited.

That's all you need for tax/income purpose.

 

[joea]

I have recently started trading stocks and forex as my primary profession and source of income.

Can anyone recommend a good accounting package for day traders? I looked at Quicken but seems like a lot of manual entry work given the number of trades I do per day especially for forex and commodities.

you may want to have squiz at www.smarttrading.com.au

go to shop - Smart Trader Spreadsheet V8.
5 video's to watch.

joea