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pistolpt
Registered: Feb 2012
Posts: 129 |
05-04-12 04:48 AM
Some of my friends and family have seen the results of my strategy and want in. My uncle was so excited he just up and sent me a check for 10k to invest in the strategy!
My question is what is the best way to go about this. I know my strategy will work and want to make them all money while at the same time build an audited track record. Only running 20k now, but I am sure more will want in soon.
Any advice guys? Thanks.
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etemtezcan
Registered: Nov 2008
Posts: 76 |
05-04-12 12:39 PM
Quote from pistolpt:
Some of my friends and family have seen the results of my strategy and want in. My uncle was so excited he just up and sent me a check for 10k to invest in the strategy!
My question is what is the best way to go about this. I know my strategy will work and want to make them all money while at the same time build an audited track record. Only running 20k now, but I am sure more will want in soon.
Any advice guys? Thanks.
hi
velocity futures and RCG (sure many others also) have a facility for commodity trading advisors.
http://www.tradewithvelocity.com/se...ns/cpo-cta.aspx
http://www.rcgdirect.com/Technology.aspx?sender=4
from the desc, I understand your PnL of your trades are allocated to internal accts. your uncle should open an acct with them and deposit 10k, you should have a different acct with 20k.
your uncle should sign some forms. %33 of your PnL go to uncle
disclaimer: I am a client of both velocity and rcg but never used this facility
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JamesL
Registered: Sep 2008
Posts: 2053 |
05-04-12 04:38 PM
Quote from pistolpt:
Some of my friends and family have seen the results of my strategy and want in. My uncle was so excited he just up and sent me a check for 10k to invest in the strategy!
My question is what is the best way to go about this. I know my strategy will work and want to make them all money while at the same time build an audited track record. Only running 20k now, but I am sure more will want in soon.
Any advice guys? Thanks.
IB friends and family - can handle up to 15 accounts before you have to get registered: (they are site sponsors)
http://individuals.interactivebroke...s&ib_entity=llc
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lindq
Registered: Mar 2002
Posts: 2475 |
05-04-12 04:49 PM
Quote from pistolpt:
Any advice guys? Thanks.
Just a few says ago on this site you labeled yourself a "noob". And now you're planning to trade money for your family based on some lame backtests? Man, you're really cruising for a big bruising.
The first time you suffer a big drawdown...and you will...you'll regret the day you got involved in trading other people's money. Even with your closest friends and relatives, it can get very nasty, very quickly.
I strongly suggest that if this is something you feel you must do, then you start out taking very small capital contributions. First, prove to others - and most importantly to yourself - that you have what it takes before accepting anything other than pocket change.
And remember (you won't), that any stress or anxiety you feel when trading your own money, will quadruple when trading with money from your friends and relatives.
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BlueTurtle
Registered: Feb 2012
Posts: 542 |
05-04-12 04:57 PM
life is short.....get all their money and go for the homerun!!!
you have maybe a 50/50 chance to win....just don't over trade.
they will love you if you make them tons of cash.
if you somehow lose, well, it's just money and they gave you money they could afford to lose.
so it's a win-win
if you don't trade it, someone else win and make tons of money in charges...
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