This is a trading item or a component that was created using QuantShare by one of our members.
This item can be downloaded and used by QuantShare Trading Software.
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Tax implications of your trading should always be taken into account. And in order to do so, I have just created a new money management script that will allow you to measure your trading strategy performance by accounting Taxes.
Depending on your country, you would pay a different tax on each trade depending on how long that trade has been held in your account. A day trader you probably will pay more tax than a long-term trader and for this reasons I have added three custom input fields in this money management script.
% Tax: The default Tax rate you need to pay for each trade that shows a profit
% Tax after N-Days: The new Tax rate you would pay if the trade has been held more than N-days in your account.
N-Days: The number of days the trade must be held in order to apply the second (usually lower) tax rate.
In order to apply this item:
- Download it by clicking on the "Download" link at the bottom.
- Install it by double clicking on the downloaded file
- Update your trading system
- Select "Money Management" tab
- Click on "Add an existing money management script"
- Select "Tax Implications for Your Trading System"
- Click on "Load Selected Item"
- Click on "Update a trading system" to save your strategy
Now, the tax amount will be calculated for each position that shows a profit and this amount will be added as a commission to the exit trade.
Trading financial instruments, including foreign exchange on margin, carries a high level of risk and is not suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in financial instruments or foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading and seek advice from an independent financial advisor if you have any doubts.
