The business description should clearly note that you are a Securities Trader.
You should also use code 523210 in box B (you aren't a dealer or a broker so this is the best option).
There is no election for TTS. Purely based on facts and circumstances.
The only election would be for Section 475 mark-to-market.
Schedule C is where you report your trade or business expenses.
Form 8829 is used if you had a room in your house that you were using exclusively for your TTS business, which would then determine the allowable expense for that area used for your business.
And yes, you will show losses every year on Schedule C. That is why I noted you will have higher IRS scrutiny and that you need to have your support documentation available NOW should you receive a letter on this matter.
*A reminder that posts in a forum such as this do not constitute tax advice.
Also keep in mind the date of replies, as tax law changes.
