MOC Orders

Quote from Champion:

Don, you are the resident expert on Elitetrader.

Without taking up your time giving a big post, can you give us a few examples on the time frames you mention?

Many thanks.
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I typed a long answer, and then my IT guy came in on Saturday and shut me down by mistake...I'll re-do a good response...sorry.

And thanks for the kind words!!

Don
 
Quote from ElectricSavant:

You and I both know that the series 7 has nothing to do with the work of everyday trading.....

Bob, You do have good one-liners though... :)
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Of course, I agree....nothing to do with trading at all...it's just that it's the "law" to be able to use the Firm's money, have direct order routing, and have a "triple net" tax policy and exemption from self employment taxes....and it's nice to use $$million each day for nothing...a pretty good edge...

(You're absolutely right, S7 has nothing to do with trading).

Don
 
If a firm pays you with a K1 what does a S7 have to do with anything? If you are trading with or without it why does that matter at all with taxes?
 
The S7 allows use of the Firm's capital....no license = Pattern Daytrader rules and/or margin, pretty restrictive. Also, Mark to Market accounting helps considerably with taxes.

Don
 
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