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Well, actually, having discipline and managing risk is precisely what good trading is about.

Your biggest hurdle - and it's likely to be a killer - is that the average retail stock trader is very tight-fisted and most attracted to free or very low cost platforms and data sources. You'd need to develop something spectacularly different that offers a real edge.

When trading naked, many traders first read the prospectus and disclosures when they are sitting at a table facing an attorney representing their broker. And many never recover. The OP should be very thankful he isn't one of them.

"The income-requirement rule also limits the use of this deduction for profitable enterprises, which appeases IRS concerns about abuse and hobby-loss businesses...."

Lost 120K selling puts in 2000. Lesson: If you don't respect the Black Swan, she will bite you in the ass.

There's that word ASSUMED. It's a killer.

Did you find this on IB ?

Seems to be just another way to enter conditional orders on TWS.

I would not advise going far beyond the truth in answering any of their questions. Employment, income, net worth, etc. Understand that you are entering into a contract. If you ever run into a serious problem with your account and find yourself in a dispute, the broker is going to refer back...

Or, more accurately, Losing Home Trader ?

Absolutely. Trump doesn't write his own tweets, any more than he wrote his own books. So there's plenty of opportunity to game the markets.

Just proves once again that money can't buy good taste.

Your rationale for closing the put is why there is a wash sale rule. Thus, your answer is contained in your own question.

InvestorRT will play back. Linnsoft.com

For me, roughly 1/3 real estate, 1/3 very diversified long-term portfolio of stocks/bonds/funds, and 1/3 trading capital.

That's a painful experience. I sympathize. The only way to help avoid it in the future is to cross-check raw data from your data source, with the results from your back testing. In regard to any platform results, trust but verify before going forward.

The surprise here is not so much that they are trading options, as that they are doing it at E-Trade.

To put Robert's post in other words: At this point you don't know what you don't know. Projecting potential levels of profit and loss is a meaningless exercise until you've spent a LOT of time in the markets to build a base of knowledge and experience. And that comes with a cost, which the...

Garbage in, garbage out.

That must have been bloody painful.