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Search: Posts Made By: SMCJB
Forum: Psychology and Money Management August 10th, 2021, 01:50 PM
Replies: 18
Views: 2,622
Posted By SMCJB
I have a NYMEX seat, which makes me a member,...

I have a NYMEX seat, which makes me a member, which makes me a professional - which is a pain! One nice thing about being a member though is 'data netting'. CME Data fees are per user per device. But...
Forum: Psychology and Money Management August 10th, 2021, 12:37 PM
Replies: 18
Views: 2,622
Posted By SMCJB
Sorry to reply to my own post. But to make...

Sorry to reply to my own post.

But to make this even clearer I also make transfers between my accounts for expenses so that there is a data trail. For example transfers from my business account...
Forum: Psychology and Money Management August 10th, 2021, 12:21 PM
Replies: 18
Views: 2,622
Posted By SMCJB
Which is why the separate Bank Accounts is such a...

Which is why the separate Bank Accounts is such a good idea. I also have my investments and my trading accounts at different places. That way there is no confusion as to what is considered my trading...
Forum: Psychology and Money Management August 9th, 2021, 05:21 PM
Replies: 18
Views: 2,622
Posted By SMCJB
It depends. Doing business as a dba is just a...

It depends. Doing business as a dba is just a legal way to do business under another name, it doesn't actually change anything legally. So if your 'Joe Smith' doing business as 'Joes Awesome Trading...
Forum: Psychology and Money Management August 9th, 2021, 04:33 PM
Replies: 18
Views: 2,622
Posted By SMCJB
Two problems with the LLC 1/ Most brokers...

Two problems with the LLC
1/ Most brokers require a personal guarantee which nullifies a lot of the protection that LLCs give up
2/ Trading in an entity makes you a professional in the eyes of the...
Forum: Psychology and Money Management August 9th, 2021, 10:08 AM
Replies: 18
Views: 2,622
Posted By SMCJB
I have a segregated /dba bank account and I have...

I have a segregated /dba bank account and I have found it extremely useful for accounting purposes. I would recommend a segregated account for anybody approaching this from a business perspective.
...
Showing results 1 to 6 of 6

What unexpected challenges have you encountered while trading on a "Funded Trader" platform?

 


 
 


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