bone
ET Sponsor
Registered: Apr 2002
Posts: 4329 |
11-03-11 11:53 AM
Legality aside, it will strain relationships whether you are successful or not. Lots of passive-aggressive manipulation and fear/greed coming from loved ones who know absolutely nothing about trading and who cannot even remotely fathom how difficult it is to be consistently successful.
There is an old proverb: "no good deed goes unpunished."
Just trying to introduce some rational considerations into the discussion, and in any event the very best of luck to you.
Whether it is one or fifteen ( the max number for SEC registration ), I would definitely have them formally sign a strongly worded boilerplate agreement about the risk they are taking on, and the fact that they should consider the investment at total risk and essentially as disposable income. You will be better off with an "eyes wide open" approach. They will hound you relentlessly unless they completely understand that they will likely lose most of it.
Because they are related, you will definitely trade differently whether you care to admit it or not. You will become more defensive, and that is not necessarily a good thing. Your performance metrics will be different trading a relative's money.
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