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My advice is call the NFA directly. Their customer service is VERY helpful. They will most likely answer any specific questions you have regarding this issue....

LongView, I too am probably going to use FundCount. Marco said they can add section 1256 contracts when needed. He and his team are extremely responsive. I emailed 3 of his customers and heard nothing but good things. Looking forward to getting up and running....

Banjo, any idea as to the cost? Right now this is what I have for the others: TradeDepot: Initial Fee: $2,000 Annual Fee: $500 FundCount: Initial Fee (small fund): $2,900 Annual Fee: $1,560 Advent Partner: Initial Fee: $12,000 Annual Fee: $5,000 No pricing for...

What is everyone here using for accounting? I'm going to run equities through my fund too, so I'm going to need layered accounting. Will probably use FundCount unless I can find something better. Looked at TradeDepot, but FundCount seems more solid (albeit slightly more expensive).

Yes, attorney fees. But one thing nice about CTA/CPO is that the NFA has to approve your docs. If you find some good boilerplate you can reduce your costs. If you do go this route I would say: 1. don't make anything that smells like a indication of future returns 2. do not use any...

If the guy is a would-be-buyer at 50 and he sells naked puts at that strike...who cares? Just a way of placing a buy limit order and making some cash in the process...

Another thing I love about options is, you don't need to know the market direction exactly. You have three choices: Up, Down, Sideways (as Samson77 mentioned). But with options, you just have to eliminate 1 of those choices. Then put on a position that profits from the other two. I love it.

If you look at Dunn's portfolio's they have a max drawdown of 50%! But they've returned 18% on average over like 20 years... Just like one day does not a trend make, one year of performance does not a strategy break.

A little different from both. You don't need a sponsoring firm, but you need to demonstrate that you have 3 years of relevant work experience (as I understand it).

Consider it a minimum requirement. CFA might keep your resume from getting thrown out of the pile. Of course, sometimes you need the MBA in conjunction, or you get thrown out automatically. So, if you want to do investment management, yes, pursue it.

I haven't tried this yet, but here's suggestion. Get your historical trades out of the TradeManager -> Orders tab. It allows you to pull down your historical orders there. One problem is that it doesn't detail your comission, but you can calc that in excel. Either way I feel your pain. I...

I have a friend who helps run the desk that moves insider blocks at UBS. Typically, as I understand it, there are lots of methods to dispose of these blocks. An insider can drip shares into the market over time, they can put the block up for bid to the i-bank as a principal deal where the bank...

I'm am not a tax or turbo-tax expert...but have you ever thought about using another piece of software to generate your Schedule D and then integrate that with Turbo Tax. Last year I used Gainskeeper and Turbo Tax together...although with as many transactions as you have, this might not be...

If you're just looking for charting and stuff you can always go with the ubiquitous charting providers that allow you to apply custom and canned systems: eSignal Tradestation Aspen Graphics etc. For me, Bloomie was always a good source for news, and fundamental stuff like tracking a...

Anyone know of good (relatively inexpensive) attorneys in Chicago to help set up a CPO? Also, who does everyone use for accounting and audit? I've used NAV Consulting and have spoken with Michael Liccar & Associates. Anyone else I should look at?

Brandon, I'm PM-ing you...

Thanks Brandon...CPO has to pass Series 3 though, right?

What if you plan on opening a CPO?

You don't need sponsorship for the Series 3 do you?

Also, not all trade short term. I have a friend at a $500MM+ fund and their average holding period per position is over a year.