Dirty Spekulant contracting in IB sector - no spekulanting? :(

[HairyArsedBloke]

I might have to get my spekulant broker and activities approved and vetted?

I can't close any positions before holding them for at least 30 days?

I have no interest in trading fundamentals and won't be trading during the day - but this could be bad for my filthy spculanting activities....

Anyone been in the same situation and can give a lowdown that's a bit clearer than the policy doc I've just been sent?

Lordy, did I ever suffer from this. It was when all this was coming in. I had untold grief talking to compliance about it at on IB I was at. They had no understanding about the instruments they were making rules about.

How on Earth can one trade futures if the minimum holding is 30 days? The frackers expire FFS!

Anyway, the next role I had 'crossed over' and after that I've been proprietary so there is no compliance whatsoever.

Not that I'm advising you to do this, but I'd just keep positions small and my gob shut.

[Jog On]

Not that I'm advising you to do this, but I'd just keep positions small and my gob shut.

This might be the solution

[AtW]

No - I want to stay within the rules and still trade

You are trying to violate their spirit.

[Jog On]

You are trying to violate their spirit.

Not sure if I want to ask you to explain that one or just not bother..

[AtW]

Not sure if I want to ask you to explain that one or just not bother..

Do you understand the purpose of the rules that were put in place?

[Jog On]

Do you understand the purpose of the rules that were put in place?

To prevent insider trading?

[sasguru]

All IBs enforce that rule. It applies to your spouse as well (and I'm guessing your immediate family).

[doodab]

To prevent insider trading?

Also to prevent conflicts of interest.

[HairyArsedBloke]

Do you understand the purpose of the rules that were put in place?

To prevent insider trading?

Also to prevent conflicts of interest.

Also to prevent the fall out of blowing your account up. Large losses can make people do desperate things.

One set of rules I came across include the condition "Absolutely no trading in derivatives".

[thunderlizard]

How on Earth can one trade futures if the minimum holding is 30 days? The frackers expire FFS!

You just need a very large shed.