Compliance and "investing" activities
Accepted an IB offer, wondering what restrictions as an SA & first yr I heard there's lots of em plus any investing perspectives.
Used to love to go to the casino, find the most asian dude at the baccarat table, bet against him every hand, and then place winnings on 0dte otm spy calls - is that not possible in IB? Probably have to close down RH and move to another brokerage to appear professional but can I have a small black hole retard fund specifically for risky plays? If compliance calls I could just tell them they already expired worthless right?
Also - from what I've seen it's best to go 10/15% 401k route plus rothmaxxing for base, save a portion of it in a HYSA, and then use bonus to go long equities. Any in-depth insight is welcome too.
This is a hell of a weekend plan
Okay, so, here's generally the rules I've seen at most banks. Trading and options are basically never allowed. You can just forget they exist. At my old bank, we were allowed to invest, but you had to go to compliance, wait 30 days, and then buy, and you couldn't sell for around 90 days after that.
Honestly though, once you get on the job, it becomes so much easier to just put it into index funds. I basically never actively manage my money, because going through my HF compliance department is a hassle, and I never want to spend my personal time researching stocks after spending 8 hours looking at screens of stocks.
If you still want to do degenerate shit, there's plenty of other ways to bet your money. Most traders I've worked with in prop shops and some bank traders gamble a good bit, and I've seen quants make election forecasters and use sports options with models to make some money. Maybe do 18 leg parlays or some shit instead.
You're right - while it might be fun now, the last thing I'll ever wanna do is to look at options plays etc after i finish turns on a deck at 2:30am
Echoing the other person. My bank is get compliance to approve and you must do the trade that same day. Must hold for 30 days as well.
More worried about tax benefits than the selection of stocks. Dumping into my Roth IRA prior to hitting the income limit this year. Did close my brokerage account but will reopen to dump money into a few stocks I like
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