Setting up my trading business in the USA
I've been figuring out How to trade, and that's awesome. I have practice, I have books, I have a starting strategy. But now I'm at the point where I'm going to do it for real. I have the brokerage account set up, with the funds in it, all good to go. But I'm doing this as a (very small) business. I *think* I should elect mark to market. I will be doing enough trading to qualify as a Trader and not an Investor in the eyes of the IRS, but I don't think my level of trading warrants opening an LLC or an S-Corp. Beyond that, I can't seem to find any information on how anyone structures their trading business in terms of accounting or tax considerations, or what I should file or set up or otherwise put in place on the business end of things, ideally *before* I start trading. Any suggestions on 1. what to do or 2. where to find this info?
Have you tried using a fundamental economic news strategy?