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Too late taking losses. Worst day of the year so far -8K

at least it is positive. nothing to write home about. +1400

first losing day of the year down -2800

A very difficult day today. Cannot understand all the reversals. njrookie

Hi rallymode and sellindexvol66, Great profits for a good start of the year. I hope I can play that kind of size some day. If you donot mind me asking, are you trading vols via options or just VIX products? njrookie

you guys need to work harder and work all the way until mkt closes. staying for the last 15 minutes did not help me though today. i cost me 3k. njrookie

A good day. PA feels just like yesterday. +7K.

Your guys took it easy. I always work all the way to close in case something comes up. njrookie

thanks for the compliment. trading to me is online poker. no stress at all. i thoroughly enjoy doing it. i will do it for free. njrookie

I am not a doorman. Just my job hour and challenge is like a doorman type. njrookie

I work after mkt hours and on weekend. It is not a demanding job physically or mentally. njrookie

A good day. Caught the upside move all the way. +8k njrookie

My beta is zero - more or less market neutral. I have a day job job but have never been disqualified for trader status. I have been audited two times without any problem with IRS. I guess once they see you have over 15 million shares and 400 million dollars traded, they do not want to...

Hi Heech and Epic, Thanks for sharing. This is really really helpful. Are both of you using IB? Are you and your clients happy with their handling of paperwork, like statement and tax forms? The handling of trade information for tax purpose can be a huge problem for these clients. I...

Yes I trade both futures and securities (mainly ETFs). I like some ETF versions of futures since the bid-ask is tight and execution is cheaper and faster. Let me clarify. If I trade both, then performance fees are no longer deductible? What about management fees? Since I am not registered...

Heech, You sound just like my wife :) "Too much stress, potentially ruined friendship and family relationships." I was curious how I will trade with OPM. Also managing OPM sounds like a job, while trading to lots of people is like a hobby. I am still accumulating capital. Once it...

to implement this is going to be difficult: "Returns less than or equal to S&P 500 - No Fee" the benchmark for trading should be risk-free rate. for a year when sp500 recovered from a big down turn like 2009, it is difficult for trader to hold a big long position. njrookie

For fees to be tax deductible, does client need to file as "trader status" for tax? I currently file as trader status for myself. However the clients do not have trading access to the account. njrookie

Epic, Thanks for the advice. I find the tiered fee schedule troublesome to implement as well, though it makes sense theoretically (better interest alignment). I could not get IB to do the tiered pricing. However if I bill the clients directly, it is a bit awkward. It also creates tax...

this thread is probably too old. I will start a new one if folks do not respond.