Hello, Here's my situation: I've developed(and trade) and am developing more automated trading systems using Tradestation. I trade on a small scale (less than my system's total capacity) with my own money. I trade $29K in an IRA and $11k in a non-IRA account. Being I can't day trade (must wait 3 days for trades to clear) my profit potential is very limited by the clearing rules and my limited capital. I do not have to support myself financially with my trading profits and must be able to trade from home. Althoughl I do live close to NYC if I had to commute say once a week. What are my options if I wanted to apply my trading systems to more capital with an intent to earn more money? Thanks in advance for your input.
one option... move some money out of the IRA? and pay the penalty...10% extra isn't that bad...You got the benefit from the start of offsetting your income...by removing it early you merely pay the tax on your current bracket and give back the benefit... Whenever moving money I always ask myself if I can make more with it at its destination, than I can from its home now...
Get a series 7 and put that $10k into a company like Assent NY. They will give you the leverage you need. Get training in office for a while, then trade remote.