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This thread is very amusing. It seems like TST is looking for a *respectable* position . . . salary, reputable firm, training, etc. Every suggestion that he just trade gets shot down . . . Just think how much easier it is today than twenty years ago to try your hand at trading. Cheap...

You could short an equivalent asset in your taxed account as you go long in your ira account. If the asset goes up, the gains are untaxed and you can record the losses as tax assets. And the assets in your ira go up. For instance, short xlf and go long iyf. It's a risk free way to maximize...

Jiler : How Charts Can Help you in the stock market. Deporre, Trade Like a Shark O'Neil, How to Make Money in the Stock Market van Tharp, Trade Your Way to Financial Freedom Cramer, Jim Cramer's Real Money Those are good books to start with, esp. for stock investing/trading.

I've gotten into the habit of putting in stop limit orders . . . I may be paranoid, but the market tends to find my stop market orders with a remarkable accuracy.

This is very true. I'll probably save $20,000 in taxes this year . . . That compounds very quickly. This is one reason why I think that Roth IRA's will not survive tax free during the coming revenue crunch . . . ultimately Roth's will be taxed as income (at least on withdrawal) above a certain...

Thanks for all the constructive posts people. Geez, I think nearly every response got in a shot at me. I just wanted to know how the IBKR market making works, and why it's not just a brokerage.

Depends what your opportunity cost is. Let's say you can make 25%/year while working and 75% while trading. Ok that adds up to $100,000 capital $75k - $25k = $50,000 from trading With a $50,000 job that evens out. You're making $75k with job and $75k trading. That's one way...

Why would you take money out of an account because you trade it more often? Are you saying the IB traders use their accounts for rent money?

http://finance.yahoo.com/news/Interactive-Brokers-Group-bw-881766783.html?x=0&.v=1 IBKR announced results on Thursday. The market making business is down quite a bit, ibkr explained it so: "Market Making segment income before income taxes was $5.5 million in the quarter ended March 31...

What's the overnight leverage? 6x? So is that $140,000 with $20,000 account?

Geez is that alot of work for a 30% gain. Monitor it real time and delta hedge? No problem! No, this kind of strategy would eat up any kind of small account in commissions and slippage. I was reading Cramer's Street Addict recently - he got rich betting on huge gains, like turning an $80000...

This is actually the opposite of the truth. Most noobs buy low and hope to sell at breakeven . . . Everybody is a born contrarian.

If you're selling premium, you're selling insurance to somebody who is surely much bigger than you are. Sure you could sell Warren Buffett car insurance, but his capital is cheaper and the your opportunity cost is much greater. You can do much more with a small stake than sell premium. For some...

What about iron condors? They're your selling options and hoping the underlying doesn't move too much, but you still have protection. I don't understand this strategy at all . . . you're not going to get rich 20c at a time. If you're going to speculate, don't do it halfway.

So about 1/3 negative, 1/3 between 0 and 20%, and 1/3 over 20%.

I've got some questions for the people who are more than 20% negative - what's your story? Is it one big loss or are you getting chopped around? I'm not picking on you, I blew up my first $50,000 by doubling down on losers. Just curious on what's holding you back.

As far as I can tell, Lescor picks up nickels and dimes by picking off lazy orders. That's why he can't scale.

I've been through this argument with Lescor and his 400% annual returns and $110,000 account. Why these gods of trading are trading with such paltry accounts is a continuing mystery . . . I guess the definition of a real trader is that you never make enough to trade your own money.

I should have included an option for complete and total blow-up. Oh well. I guess I figured nobody could blow up in this quiet market. I may have underestimated the ET crowd.

This is why stops were invented. You only need a hedge if you're managing billions of dollars. If you can get out of your stock in 3 seconds, a hedge will just be a drag on your returns.