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I have a mutual fund that is occupying 100% of my account. If I place an order to sell it, can I buy another mutual fund the next day? In other words, are there some days that I have to wait before the trade is settled and my capital is released for purchasing a mutual fund again? In general...

That will incur higher costs than the tax % * my computer, because I am in CA.

If I don't have Trader Tax Status, can I deduct my trading costs such as computer, books, and network costs against my investment income? Thanks.

All great points. Thanks so much for your time and information. As you have brought it up, this 5) is actually pretty important. It may make the RIA much less attractive because it does increase the risks of my algos being reverse engineered.

Thanks so much for your detailed reply. One thing unclear to me is why you didn't choose route 1, the RIA route. From your explanation it appears that the RIA route requires much less paperwork and maintenance, but is still able to generate client income on IB. You have even passed series 65...

Where do you find information about the $400k limit? I searched the NFA website and I only see the 15 clients limit for exemption but not the $400k. Thanks.

Could you give an update on your situation? After you have completed the series 65, are you able to charge fees on IB? Have you incorporated to protect your liabilities as many advisors do? Thanks.

Thank you very much.

If the hedge fund (such as a CTA) trader trades futures, does he need the Series 3 exam? Is it also not needed because's it's LP's money, like the other two exams you explained? Thank you very much for your replies.

I don't understand. Hedge fund traders trade clients' money. Doesn't it mean that they need to be registered as Registered Investment Advisors, which require Series 65? Could you please clarify? Thanks.

Does an analyst employed at a hedge fund in California need to take Series 7 and 65? How about a trader at a prop firm in CA? Thanks.

I use my margins to trade many ETFs which include some muni ETFs (such as MUB). I heard that I can't deduct margin interests on muni ETFs since they produce tax free income, is that true? The problem is that I have thousands of trades done for the year. The 1099 from my broker (IB) only shows...

May I ask what that IB alternative is? Thanks.

When you use Guerrilla, do you use normal Guerrilla or the Float Guerrilla? Would there be any improvement when using the Float one? Thanks.

Do you know if the Fox River algos are supported by IB's API? I can't find them in the GitHub docs. Thanks.

Thank you.

Is there a way to use the API to find out the list of all available months for a futures ticker? For example, for ZN, is there a way to return the list of 201906,201909,201912.... ? Thank you.

What is the advantage of such prop firm over a retail margin account? Just a larger desk?

Great information, thanks. May I ask what "FO" means? Front office?

I am in the Bay Area in California. I saw you mentioned SF in your earlier post, so I tried to ask.