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Hello, My friend has BTC in a non-US wallet. He wants to transfer to US wallet so that he can use the money. He called Coinbase and was told he would have to pay taxes on the whole thing because the cost basis cannot be established. Is there a way to do this, legally preferred, but open to...

Hopefully you will get clarification from @garachen, but for myself, I should be able to explain where the edge comes from. Example (hypothetical): Robinhood traders can only start trading at 9am pre-market, but I ca trade from 4am using my broker. If I get positive news on stock which is...

I started trading the wheel last week. In my mind, the wheel is nothing more than a dip buying strategy. So instead of being in cash(+VXX) and waiting for the dip, which is what I would normally do, I will try to generate some income in the meanwhile. I will sell ATM (or slightly OTM based on...

Can you please elaborate without giving anything away?

Love this definition! But one of the advantages of trading, unlike other businesses, is that one can start with no or little money.

Thank you for your honest review. Were you attending the chat room? The provided materials is for theory, the chat room is for practice.

Does this mean you are always on lookout for cheap far OTM options in your preferred stocks?

He is suggesting to have ratio where initial deltas are close to neutral (ex +80x1;-20x4). Same for you?

I might have missed it, but wasn’t he favoring ratio spreads where he is long 1 ITM and short 3 OTM?

Thanks for the recommendation! Anyone has opinions on below? Maybe buying a straddle around lunch time in-between the nearest strikes with 0-2 days to expiration? "Stocks such as Apple and MasterCard that often fail to close near a strike price but have very high strike cross frequencies are...

I love all manipulation theories, but I assume it works in a more quiet environment than what we are currently experiencing. So I am not sure RIOT is a good candidate especially now. https://www.interactivebrokers.com/en/software/glossary/content/glossary/marking_the_close.htm

Is this correct?

I’m curious why you need to use IB? Don’t NinjaTrader and the likes already have the tech side of what you need. Not sure if they support options.

It's displayed, but I don't remember where exactly. Try below https://www.interactivebrokers.co.uk/en/software/tws/twsguide_Left.htm#CSHID=usersguidebook/thetradingwindow/auction.htm|StartTopic=usersguidebook/thetradingwindow/auction.htm|SkinName=ibskin Edit: the link doesn't take you there...

True, I missed that point completely. I can't speak for OP, but for my retirement account, being down on SPY is more of an opportunity cost than risk of loss, provided I don't need these funds while in draw down. In other words, I will never sell at a loss for as long as I live and pass this...

Is that really true for retail trader? It's definitely true for large AUM money managers who shoot for risk-adjusted returns. They care more about draw downs, benchmarks, correlations, and fees than absolute returns. Let's say 2021 was a great year for a retail trader where he/she made...

Another nice and current video. I agree with increasing allocation as VIX increases. Thoughts?

mapped keyboard keys.

@Aquarians, the wheel is also referred to as “the triple income” strategy. I assume your back tests don’t account for dividends. If I am stuck holding the underlying, I have paper loss, but with options I always have realized losses. Some will argue that there is no difference, but I prefer to...