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The main takeaway was that you really need to understand how the plumbing of the market infrastructure works because that is where you get robbed.

I know US based traders are independent contractors. But if a funded trader from China, for example, is also an independent contractor who is simply issued a 1099 then the whole business structure of TST just seems too good & too simple to be true. Imagine at some point years in the future...

Okay I think I found the answer from the turbotax website. Here is the answer to my same question posted by a turbotax employee:

80 views and no reply? No one trades options on futures? 2013 was my first year trading options on futures so I haven't dealt with this before. The way I am dealing with it is I am entering the P/L on options on futures the same way I enter the P/L on futures. Is this correct? But...

From a Tax/Accounting/Regulatory viewpoint, I'm trying to understand just how US based prop. firms (like TopStepTrader) hire traders from foreign countries. Do they just hire foreign traders as independent contractors and issue a 1099? Or do they hire foreign traders as employees of a US based...

On my 1099 from IB: Box 9: Profit or (loss) realized in 2013 on closed contracts Box 12: Aggregate profit or (loss) on contracts Both boxes show my futures P/L. The figures don't include my options on futures P/L. Is this a mistake? Or am I supposed to self report options on futures P/L?

I don't think there is any question that Bitcoin is an amazing financial innovation. For years Visa/Mastercard/Amex have been skimming at least 3% off of every single transaction like a mafia and this is really hurting businesses. I thought Dwolla was the solution to this until Bitcoin blew...

I'd like to buy some Bitcoins but I'm always hearing about exchanges being shut down and money being stolen. I'd appreciate if someone can outline a way to buy & hold bitcoins in a way that is safe from exchange shutdowns and theft.

OP is probably better of just selling put options on SLV every single month. He's got a better chance at making 200k that way than buying a call option with a less than 1% chance of expiring in the money. BTW SLV only goes to 100 if we develop hyperinflation (20%+ inflation - a level not seen...

I can't believe that in 2014: 1 You still can't place a double sided order for options (but "MMs" can). 2 You still have to deal with order cancellation fees (but "MMs" don't have to deal with this BS). 3 You still can't trade options after hours and premarket when the underlying is...

Yeah leverage is the destroyer of all investment/trading strategies. Leverage never makes a bad strategy a good strategy but always/eventually blows up even the best strategy. A small trader that is forced to use leverage is wise to eliminate it as his account grows. Seth Klarman delivered...

NoDoji: Dearest Maam, I don't appreciate your tone in this thread :p

If you believe use of stop losses is proper risk management then you probably also believe the "trend is your friend" fairly tale too. And no, I'm not advocating RTM strategies either as there is no inherent edge with that approach either.

Stop losses are for losers. Just by simply not using stops your trading will improve tremendously because you will find ways to truely reduce risk. I've used stops on every single trade for YEARS and all I did is run up huge commissions/slippage costs that bled my account constantly. Stops...

Only amateurs use stops. Pros never need them. Hedging with options costs too much money. Going to cash is the best hedge. Amateurs hedge, pros just raise cash.

Trading and investing is really not all that difficult. There is really only ONE way to blow up any system and if you don't know what that is then you shouldn't be trading.

low variance market making for 10% a year @ 3-4 times leverage

Interesting story about the ex IBM guy. It seems there are lots of people and hedge funds selling puts and selling covered calls. And I understand that 90% of all contracts expire worthless but I thought it was a zero sum game? Where are all the HFs strictly buying calls? Wouldn't Warren...

Buying Calls: It seems that a long call option suffers two headwinds: theta decay + volatility decrease. Of these two headwinds I think volatility decrease concerns me most since the best buying opportunities are when IV is highest. Selling Puts: With selling puts theta decay +...