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What Spin said. There are a lot of different ways to use options, so no two of us are exactly the same. I don’t use scanners either, I like to know as much as I can about the underlying. If you are going to be looking for a job, where you work is a lot more important than any questions...

Not going to disagree with you, but I was asking him as a non professional with a five figure account of just his own personal money not investing for anyone else nor having any aspirations of investing for others or working for anyone else. In that case, you can calculate the returns as you...

Yes. You can make it something simple like always take your withdrawals or add money on the first of every month, then those additions will be traded for that month and used in your calculations, and any withdrawals will not be traded that month and not used in the calculations.

Bob111, I am not sure why you are posting that link, there is no such thing as applying for trader status. If you claim trading expenses via you personal or entity tax return you are obviously claiming trader status, but there is no “applying” for it. You simple claim it by deducting your...

If you trade OPM then an entity is the only way to go, but you need to pay in the neighborhood of 30k for an attorney to put together your entities, disclosure documents, and subscription agreements. Most here will tell you it is not worth it to trade OPM if you are a decent trader. It is...

Just to echo a few things already posted: No such thing as “applying for trader status” and never has been. Self employment tax never applies to capital gains, no matter what entity you trade through. You have to go out of your way and turn those capitals gains to ordinary gains or income...

Again, you have yet to state why. Without the why there cannot be a complete answer. I remember other threads here where people get into long drawn out and complicated debates on how to calculate returns for different situations, so not every trader will give the same answer. If the info is...

Correct, but what is the point? If this is your money trading for yourself, why would you possibly care about exactly what your returns are? The only reason is to show it to other people, which I pointed out earlier is illegal except in specific cases and in very specific ways dictated by the...

Your first problem is that you mention shorting options, so I assume you are naked. Now it appears you want to put together a track record to show people. Do you have any idea what kind of can of worms you are opening up? Do you know anything about the regulations and many, many laws involved...

You are not disciplined enough to stop trading when you are losing too much money and want software that does it for you, but you think a prop firm should let you gamble overnight? To answer the question, yes firms like Echo and Bright can provide overnight leverage like that, but only if...

CME website: “Due to technical issues, the CME Globex Crude Complex markets have been halted.”

As Hurricane stated, then the “capital loss carryover” carries forward indefinitely until you do have income to offset. If you are married filling jointly your $3k per year limit will also offset your wife’s income if she has any. You can’t get a refund for previously paid taxes based...

I will agree with Bob that an entity is the way to go, but there are some problems with single member LLCs. I would also disagree that a single member LLC will protect your assets, most brokers have you sign a personal guarantee, but I am not an expert on that. I would suggest a simple...

I received an email from them that says they are not planning any significant changes when they take over as FCM. I am hoping they add more futures and futures options that can be traded, but for now I am happy that we don’t have to worry about our money being held at Penson anymore.

Yes Penson is still clearing but TDA will be holding the money, and they will be the custodian of the funds not Penson. TDA hopes to be self clearing for futures within a year or so.

No more Penson at thinkorswim/TDA: “Please be advised that TD Ameritrade Inc. ("TD Ameritrade") has entered into an agreement with Penson Financial Services, Inc. ("Penson") in which TD Ameritrade Inc. has agreed to act as the futures commission merchant for futures accounts introduced to...

My problem is that the SIPC won’t give you a completely “right” or “straight” answer. In my opinion, that is the whole problem. With insurance you should know exactly what it covers and when. We basically now know that segregation is of not much help or protection, that the SIPC...

Swan Noir is a tool. Simply no two ways about it. Endless ranting about the same thing without actually getting anywhere. I actually called and talked to the SIPC at length and just reported back here what they told me. Swan spots drivel without actually calling anyone or doing any research...

I am not a daytrader, but I have watched the TOS quotes for years, and I can say they are much better now than before. I agree with Frank that if you are a scalper then the data feed from most brokers will be inadequate and you have to pay for a good one. As far as commissions at TOS you have...

Wow, you really have problems don’t you. That is not even remotely what I wrote. I am a numbers guy not a wordsmith, so I am at a loss as to how to properly depict how unreservedly obtuse you are. Twice now you have not read what I wrote, then intentionally misstated what I wrote to prove...