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  1. rmorse

    IB's option cancellation fee

    NYSE AMEX current CANCELLATION Policy:$1.50 per cancelled order with the foot notes below: 12 The Order to Trade Ratio Fee is calculated on a monthly basis. Orders that improve the Exchange's prevailing best bid-offer (BBO) market at the time the orders are received will not be included in...
  2. rmorse

    SPY Weeklys vs SPX Weeklys

    Your order will either be entered electronically into the CBOE order book, or routed to a broker. Very few online brokers use floor brokers. Also, your order can't be represented in both places or you can receive two executions.
  3. rmorse

    Whats the best paid site for stock news?

    I put in MOS into Newsedge and these were the stories that came up. Very easy to use, not cheap, but worth it.
  4. rmorse

    Whats the best paid site for stock news?

    I like newsedge. It's a news accumulator, so it can pick up everything. Email me if you would like the contact information of my contact there. http://www.acquiremedia.com/newsedgev8_home.shtml Bob
  5. rmorse

    IB's option cancellation fee

    I believe cancellation fees are only for "customers", which are generally not charged on most floors for execution. "pro customer" , firm electronic and local MM are not subject to cancellation fees because they pay higher fees for trading.
  6. rmorse

    SPY Weeklys vs SPX Weeklys

    In my opinion, you can trade SPY with electronic platforms. For trading SPX, it's best to pay a broker. If you need to get in and out quickly, markets are too wide.
  7. rmorse

    How to bring it to the next level

    I would move up a little slower. Remember, going from 10 to 12 is a 20% increase. Take it slow, you should feel a little nervous when you trade, but not scared.
  8. rmorse

    Getting Initial Contribution Back

    The lock up is a SEC rule. If the prop firm uses your capital toward their capital calculation for trading, your contribution must be held for 1 year. If they hold it aside, and only use their own funds for trading, they are not required to lock up your money by the SEC.
  9. rmorse

    Incubator Hedge Fund

    Yes, I can help. Email me your contact information and a brief description of what your trying to do, and I'll send you the contact information of an administrator that provides services for start up hedge funds and RIAs. They are very knowledgeable and reasonable. We have a working...
  10. rmorse

    What is required to file for Mark-To-Market with the IRS?

    http://www.greencompany.com/EducationCenter/Trader-Tax-Center/MTM-Accounting.shtml You're going to need the advise of an accountant. You also might need to create an entity like an LLC. ELECTION PROCEDURES To elect Section 475 MTM, follow this two-step procedure: 1. File an election...
  11. rmorse

    why are earnings released...

    As traders, we like chaos. The companies providing information to their share holders and the public do not. My companies prefer not only to announce after the close, but also have their conference call before the market opens, so every shareholder and potential share holder has the same...
  12. rmorse

    What is required to file for Mark-To-Market with the IRS?

    http://www.irs.gov/taxtopics/tc429.html I'm not allowed to interpret this for you. You should talk to an account, but the code is here.
  13. rmorse

    why are earnings released...

    I can't tell if you're joking.
  14. rmorse

    why are earnings released...

    To give the public time to read and understand the earnings, rather than jump at the first sentence.
  15. rmorse

    SPXPM expiration

    Yes, they appear to trade like other options and trade until the close on Friday at 4PM EST: Read below: Exercise Style: European - SPXPM options generally may be exercised only on the last business day before expiration. Last Trading Day: Trading in SPXPM options will ordinarily cease...
  16. rmorse

    series 24

    http://www.stcusa.com/ I've used them for all my exams.
  17. rmorse

    IB's option cancellation fee

    It's not a negative. Every DMA route sells their flow. Just a fact. I don't care who is on the other side of my trades either, but some traders do. Def likes to speak for me, and tell me what I'm thinking. He makes a lot of assumption, and he has never met or spoken to me. He represents his firm...
  18. rmorse

    IB's option cancellation fee

    I'd be happy to discuss this with you privately. To be clear. I have no issue with IB. We are Introducing Brokers to IB. I've never "bashed" them and have incredible respect for the person that started the firm, and he was an AMEX member like myself around the same time. I have my own...
  19. rmorse

    21 year old beginner.

    Don't miss out on the opportunity to have a mentor like your friend at the hedge fund. I would go that route. Bob
  20. rmorse

    Leaving IB - where to go??

    Lime/Wedbush target market is black box traders, not high touch traders. Also, they have a minimum account size much higher than $100K, and they have a minimum monthly volume to open an account. Bob
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