Controlling your position size by a third party - looking for suggestions

Discussion in 'Retail Brokers' started by PBS, Jan 13, 2025.

  1. [​IMG]
     
    #11     Jan 14, 2025
  2. p0box4

    p0box4

    Sure, that could be a reason, but that's not OPs intention.

    He's trying to "save him from himself", which won't work if he can change the parameters instantly, as he wants to.
     
    #12     Jan 14, 2025
  3. deaddog

    deaddog

    A hardware solution.
    Tell your wife or your mother what you plan to do then explain to them why you didn't do what you said you were going to do.
     
    #13     Jan 14, 2025
    MarkBrown likes this.
  4. newwurldmn

    newwurldmn

    he should grow up and enact some discipline.
     
    #14     Jan 14, 2025
  5. PBS

    PBS

    Ideally I would like to have a business plan agreed with a third party before start of each trading "cycle". It would say: you start with size X. If intraday account NLV reaches $Y, your max size is increased to Z, etc. You reach either the target for the cycle, or the loss limit, or the time limit (e.g. 3 months) and a new cycle starts.

    I do not want to involve my friends or family. Is any broker willing to sign a contract as explained above?
     
    #15     Jan 15, 2025
  6. newwurldmn

    newwurldmn

    perhaps if you are big enough to have a private relationship. I can’t imagine a broker taking that kind of liability for a regular customer.
     
    #16     Jan 15, 2025
    p0box4 likes this.
  7. p0box4

    p0box4

    Extremely unlikely.
     
    #17     Jan 15, 2025
  8. Does anyone like their risk manager? I've never been in a financial firm but at the factory, no likes the quality inspectors. Yet they are essential. And their personality is just like the cops - dry, detached, and not impressed with ANYONE'S performance!

    OP may need to join a firm where the office cop is always waiting and watching, getting ready to slash his position when the equity curve starts looking suspicious.
     
    #18     Jan 15, 2025
  9. newwurldmn

    newwurldmn

    did/do you work in a factory?
     
    #19     Jan 16, 2025
  10. ironchef

    ironchef

    It is not always bad.

    One poster on ET fat fingered and got himself a Lambo?
     
    #20     Jan 16, 2025