Trading Fulltime

I have no plans on lying, I want to trade full time in the future and I will be honest about that. I will just contact IB myself before I do quit(when I feel like I’m ready to quit) and tell them that I plan on quitting my job, and need to update my employment info, and how I go about doing that. Thanks
 
Johntrad01 said:
I have no plans on lying, I want to trade full time in the future and I will be honest about that. I will just contact IB myself before I do quit(when I feel like I’m ready to quit) and tell them that I plan on quitting my job, and need to update my employment info, and how I go about doing that. Thanks
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This seems beyond what is necessary...
 
Johntrad01 said:
Does IB require you to have a job if you want to trade, if no, than what do you put in the employment section of your account if you’ve quit your job or are planning on quitting in the near future?

Thanks in Advance.
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While I know it's not the topic at hand, I'm sure you have a profitable real-time track record going back several years, a system accurately backtested several decades longer than that, an account funded with at least $400,000, 6+ months of savings, etc.

Or are you making the same mistake most people here (including myself long ago) did? In that case, you're probably better off learning how to count cards in blackjack or doing "retail arbitrage" on Amazon or something...
 
MKTrader said:
While I know it's not the topic at hand, I'm sure you have a profitable real-time track record going back several years, a system accurately backtested several decades longer than that, an account funded with at least $400,000, 6+ months of savings, etc.

Or are you making the same mistake most people here (including myself long ago) did? In that case, you're probably better off learning how to count cards in blackjack or doing "retail arbitrage" on Amazon or something...
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I don’t know what that mistake would be, I’m still under PDT... who has 400k to find an account? But I know your getting at, “don’t quit your job unless you have enough money in your account and enough for bills/expenses. Etc
 
Johntrad01 said:
I have no plans on lying, I want to trade full time in the future and I will be honest about that. I will just contact IB myself before I do quit(when I feel like I’m ready to quit) and tell them that I plan on quitting my job, and need to update my employment info, and how I go about doing that. Thanks
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At any time will you be able to update your account data, including employment status. On top of that, once per year IB will contact you and make you review the data they have on file. Your employment status is one of the items they'll make you review.
 
Johntrad01 said:
Does IB require you to have a job if you want to trade, if no, than what do you put in the employment section of your account if you’ve quit your job or are planning on quitting in the near future?

Thanks in Advance.
More...
Can always say retired, regardless of age.
 
Robert Morse said:
As a broker, we like truthful responses. If you are currently employed but plan on quitting, you are still employed at the time you apply. If at the time you apply for an account, you are not employed and have no source of income. you can say unemployed or retired, whichever one is accurate. The problem arises when your responses do not make sense. E.g. My income is $100,000/year and I'm unemployed, retired etc. Then we have to ask how the income is generated if you are unemployed or retired. There is no reason not to be accurate on your application.

If, as the thread is called, you want to Trade Full time-and you have no other employment, say you are a self-employed investor/trader.
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If your response is that you're a "self-employed investor/trader," then would that likely result in your paying "professional" exchange data subscription fees vs. "non-professional"?
 
S-Trader said:
If your response is that you're a "self-employed investor/trader," then would that likely result in your paying "professional" exchange data subscription fees vs. "non-professional"?
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Not if your account is an individual account and you are not registered with FINRA or CFTC and do not put yourself out there as a money manager for others. You should be careful what you say on Linkedin. You should also avoid using a corporate email address.

Self-employed investor/trader implies you manage your own money.
 
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