Cream the margarine and the sugars together. Add the eggs and mix well.
Stir in the flour, baking soda, baking powder, salt and chopped nuts. Shape dough into 2 inch to 2 1/2 inch diameter sized logs. Wrap logs and refrigerate overnight.
Preheat oven to 350 degrees F (175 degrees C). Grease baking sheets.
Slice logs very thing and place cookies on the prepared sheets. Bake at 350 degrees F (175 degrees C) for 8 to 10 minutes.