I assumed that is what we are discussing because you referred to the series 56. That is an exam required by US regulators.
The original question was managing accounts for others using a prop firm? But I gotten the answer thank you.
Typical. A paper account trader thinks hes the shyt in the world of trading all of a sudden. Thinks leverage = success. Asks a dumb question, gets intelligent responses, and now tries to crawl his way out to come up on top as the smart one afterall. He even admitted he was once trading with a scam firm that ran away with his money. And he probably lost a lot of money in his real trading account too, which is why hes still saving to trade retail or get 'contributions' from friends to "trade on their behalf" at a prop firm. But his paper account is giving him a huge boost of confidence. A good trader just trades. And if they're really that consistently good the gains compound exponentially. No need for all the BS about "trading other people's money". And you guys are right, that "retail account hedge" makes no sense at all and if anything sounds kinda scammy. Just lol worthy stuff. No point debating it guys. Let him do what he wants. He totally sounds like the type that will break a bunch of rules, have a bunch of deals under the table, and pretend like nothing happened.
Butterfacetrader-your view of what a good trader is, is very judgmental and short sighted. If the goal is to make a living with a career in these markets, there are many ways to do that and use trading as a vehicle. Everyones expectation and risk aversion to their own funds are different. All the pre-judgement his not helpful in this forum.
Not even talking to you. When did I say theres only one way to trade the markets? I'm referring to this guy who thinks hes a hot shot trading a paper account. Just read his other posts. Thinks hes the shyt. Thinks leverage means easy money and leverage alone. Arcade prop firms already give you many times the margin you can get than a retail account with PM. You still want to have some "outside investor" help fund the deposit for even more margin? If you can't cut it with the increased leverage offered by an arcade prop, what good does having your own money doubled by initial investor deposit make? People have already told him what the rules are, and he disagrees with it. What more do you want? The guy sounds exactly like the kind of guy who deals under the table. So let him be. Finally, you're not even a trader yourself. You said you worked at a brokerage firm. And thats pretty rich coming from a guy who didn't know the difference between a futures and forward contract, and as someone who works for a broker thought Canadians can get portfolio margining when Canadians are limited by the rules set by the IIROC in Canada, which is different to FINRA.
You've got me confused with your mother! Who the hell was addressing you! Follow my post and then comment on things you know nothing about. People are always tough behind a keyboard. First and foremost most good traders don't talk about their trades they just conduct them. My work and experience speaks for itself. Clowns like you fall into the 95% of those that loose money and then try to discourage others from trading because of your failures.
Azz clown I practice with a virtual account in addition to trading live accounts. I noticed you limit who may view your full profile, this is why you feel safe and started trash talking.
1245 you have to understand just like in all industries they're always few hoes that think they have all the answers. Barely making ends meet and want to dictate how you should trade. I see it all the time with one HUGE difference, in person their respectable.
Funny. The guy who started trash talking was you. Maverick was helping you out and you're being a big swinging D with name calling. Calling people bad traders seems like your favorite goto insult. Yet you're not a full time trader. If you're so good you're a full time trader already making the millions. What are you doing here then? Here you asked the question, and then you also have the answer at the end. What more is there to discuss? Whatever. Keep doing what you're doing. After all you have everything figured out already. Why some super trader who can trade with supernatural margins above retail accounts at an arcade prop shop still needs external "investor funding" to top an account off is news to me.
None of your business punk, my strategies have nothing to do with this topic. MInd your business, I'd don't recall asking you a d-m thing. I posted a question, if you have nothing positive to contribute keep your internet bravado to yourself. I asked a question received my answers so you really had nothing to contribute. I can speak on trading because my results speak for themselves. Get your story straight I never lost money with a prop firm you idiot they closed shop. I pulled my money out before they closed shop. I made back my initial investment and then some. It took them awhile to pay my remaining balance but eventually I received all my money.