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Got it...thx. I knew someone what owed the IRS $125,000. They put a lean on his earnings and it hit his U4. They fired him. He is now unhireable.

Maverick74, You can't join ever? Even after time passes and you get your credit score up? I know most broker dealers will not hire anyone with a big credit issue or IRS lean because they are concerned they will do anything to make money. But is the bankruptcy really a final, forever thing? That...

Dealmaker, I don't know anything about Maverick Trading. A prop firm does not have to be a broker dealer and registered with the SEC. We have clients that trade their own funds where there are more than 1 member of the LLC, and they are a Proprietary trading firm. All it means is that they...

Greeks are used to manage risk and hedge. The Greeks don't provide edge or "affect option price." Option prices are determined by assumptions and supply/demand.

Interesting question. Has your credit score recovered? It is likely that if your credit score is too low, that it might limit your ability to join a true prop firm where you are an employee. As joining a prop firm where you money is 1st loss is not really a "job" because you become a partner...

If capital is not an issue, I would use an IRS work sheet or a program like Turbo tax to estimate what you actually owe and pay close to that each quarter from those trading profits each quarter. If trading capital is tight, hold back a little in a case the following quarters have losses. You...

If I were learning to scalp, I'd consider futures. Lots to choose from and they trade all night and most of the day. In the USA, you get a different tax rate too that is better and, you get natural leverage with lower accounts sizes. No PDT also.

Turveyd, Do you really feel that is what regulators wanted? How many traders do you know that can make money consistently with $25K to 30K? It is really hard to make money trading as a business with $500K. Entering any business under funded is just not a great idea on balance.

Cashclay, I have a question, that I don't expect you to respond to publicly. Just because you can open a securities account with $500 and get 6:1 margin, do you think it's really a good idea? Do you make money? Can you afford to lose those funds? Do you know others on balance that have made...

I just checked out the Sure trader website. They are an off shore company and not a FINRA Broker Dealer. I'm not familiar with the securities laws in the Bahamas. I'll stick with SIPC member broker dealers that are SEC registered with FINRA as their SRO. And, they can't take USA based accounts...

6:1 is PM margin and you need a much larger account for PM than $25k.

Are you on a broker Nuetral platform? Are you trading options? They should be able to monitor buying power for equities but options are harder because they use cash value not risk.

Can't tell if this is a serious question. The loss from the transaction would be much greater than what they would make on commissions.

Interesting. It it were me and I put up the first loss money, I would expect both you and the investor to share all expenses based on your profit split. As for the split, I should not comment on publicly, sorry.

My advice is to make no assumptions when you go into business with someone, even family. Spell out everything and in a "exhibit" provide examples.

Rather than respond to your example, let me say this is a contractual issue. What is typical is to create a high water mark. $100,000 account...profits...split up what ever profits you contract says. Anything left over $100,000 can be split in the future. Some contracts have hold backs. Now if...

This is a really bad way to get accurate information on this very important topic. You really should talk to an attorney. My expectation is that if you have a "place of business" in your state, that you have to register and "follow California rules and regulations," even if the company is...

Yes, assuming you are also splitting all fees and expenses that hit the account.

I really don't understand what the set up is so I should not assume there is wrong doing. If a group of 10 traders comes to me and say they want to each open their own account, but would like the advantage of being priced like they are one account, I would provide better commissions for each...

You should be careful with this. Read from page 21 on where it reads Allegations: bob