Limited Trading Authorization

My friend and I are part time retail day traders. We have account with ThinkOrSwim. We only day trade emini ES s&p 500. We are planning to give permission to trade in each other's account using "Limited Trading Authorization" form. TOS has future where by contracts can be distributed automatically to muliple accounts. Idea is when I am online, I trade both accounts and when my friend is online, he trades both accounts. We both use the exact same strategy and our screens are also identical. So we don't expect the typical issues of trading friend and family money.

My question do we need to register with National Futures Association to trade other person's money ? I looked at http://www.nfa.futures.org/NFA-registration/cta/index.HTML and it appears that this registration is not required if you are trading in less that 15 accounts. I just want to confirm again and be assured we will not get in any trouble.

Thanks

Kumar

 

"... do we need to register with National Futures Association to trade other person's money ?"

no

 

1) Is your friend's name "Harold"?
2) Your "friendship" should come to an end in a few weeks.

 

Are you planning a trip to white castle anytime soon? grab me some chicken rings if you ever get there