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The market makers never lose money, at least not for long. If they tax trades, just like SEC fees now, the spreads get worse and retail traders pay. If they tax cancels, the spreads will be much worse on volatile things, and the retail traders pay. sure it would be terrible for the market...

If you elect MTM, it will take all your eventually long term positions and convert them to ordinary too unless you go out of your way to designate them as long term investments and not trading positions. There are a few other cases where MTM might be worse or more trouble if you are net...

Yeah, that covers the basics of tax issues for traders. I will point out that mark-to-market is a bad deal if you consistently make money since all your profits become ordinary income.

Note that IEX doesn't apply the same speed bump to their own smart router, which is faster. And for that you have to pay them extra... just a different way to skim some fees off. My limited experience with IEX was that the fills were ok but the fees were pretty high, so it wasn't as good as...

I haven't found any brokers willing to give me my "ideal" amount of leverage :).

Dealmaker - I'm sure you understand the difference between total dollars paid and the income tax rate. Buffett pays way more $$$ in tax than anyone here, even if it's at 23% or whatever long term capital gains rates. Don't fool yourself - the rich pay for almost everything, but some of them...

Then why would they bother to leave and all be going to FL? Tepper dumped NJ recently for Florida too. It can't be all how much better they like hurricanes over the New England winters. Plus, you know it matters when the financial budget guys at the states are getting worried, since they can...

There's an easy way to save a cool $50-100M when you're a billionaire in the top tax bracket in Connecticut - move. Florida, with no income or estate tax, is a popular choice as this article shows...

http://taxation.lawyers.com/income-tax/tax-deduction-for-worthless-securities.html

What about the part where Fidelity disabled his account's buying ability so they could front run him in covering their own short squeeze?

Looks like both BTU and EXXI are bankrupt (or will be by tomorrow). How is the distressed debt trading going?

There are a number of waivers for the minimum monthly charge, even if you don't trade much. Yes, you can trade without paying them for data, and get your quotes elsewhere.

https://suretrader.com/support/frequently-asked-questions/#faq-can-i-trade-penny-stocks-pink-sheets-or-otcbb Would my account be subject to Pattern Day Trading rules? Your account is not subject to FINRA’s Pattern day trading rule because we are a not a FINRA member firm and executed all of...

Depends on how the BK goes. They need to issue a lot more shares to dilute Shkreli down to 20% where the seller is comfortable (or buy him out), either of which won't come cheap to current shareholders. The price is the question.

Usually the broker charges for lending them, but doesn't share it with the customer. If the lender recalls their shares in order to sell them, your broker has to find another lender or else your short position will be subject to a buy-in.

It's probably not free. Look it up: https://www.interactivebrokers.com/en/software/am/am/ibreference/shortstockavailabilitytool.htm

I'd care more about knowing what the fair value of the stock with decent confidence than than what % of volume you are. If I was pretty confident of my model, I'd take a big % of volume at a good price.

Edit: So in those 400 trades, did you never exercise a naked put option?

Not a bad list here: http://news.efinancialcareers.com/us-en/199934/want-job-high-frequency-trading-pay-career-prospects-15-key-firms/

Yes, after.