From 30K to 1M in 1 Year!

Discussion in 'Trading' started by qll, Feb 1, 2007.

  1. qll

    qll

    I met a guy who trade futures from 30K to 1M in 2006. In the 12 months, only Feb and Dec, he has loss. He mainly day trade or at most carry the position for 2 overnights. However, looking at his trades, I found this: he made 30k to 250k in the first 3 months, then he keep withdrawing money, once his account reachs 500k, he start losing. He told me that once 500k, it is difficult to get in and out quick enough. Here is the deal, he has 250k in his account and his friend gives him 100k, and I have the option to give him 100k.

    The good:
    He makes money in trend (2006 early copper) or trendless market (Q4 2006)
    He is using 100% of his margin overnight, across all futures.
    He is mainly day trading in and out, so less risks.
    He does not carry one future overnight.

    The bad:
    I only know him for 1 day. His transaction is confirmed and verified by his broker in front of my eyes in their computer system.
    Once reaching 500K, he start losing.
    He regularly carry 100% margin overnight.

    What will you do, should I do here now? Invest or Not? He will take 30% cut of profit.

    Comparing this to most hedge funds, I get a better deal. and My performance is only 100% a year.

    Here is his account chart
    Remember Larry Williams turned 10k to 1million in 1 year. This 30yr old guy is by far the second best I ever know. They all seem to do the similar:
    1 Start small
    2 Gain quick in first 3 months
    3 Most day trade or over 2 nights
    4 Lost once account reaches certain size.
     
  2. Only 100K? that has to be a bummer.

    He seems like the REAL deal. I say GO FOR IT.

    ++No 2nd Thoughts++
     
  3. virgin

    virgin

    GO for it ! :cool:
     
  4. Mo' Money....

    You'll have more money to invest with an up & coming hot shot like me in the future. Think about that. It's like 3-4 birds with 100 dolla.
     
  5.  
  6. Sounds like this trader ....'needs other peoples money'?

    Yeh, right.
     
  7. qll

    qll

    that is my thought too.
    i found that once you work so hard for so long, you start being tired, not so eagar to make big, and start thinking to use others' capital for your own riskless gain.
     
  8. Its in not his fault that he losses at his psychologic limit point. We all have limits.

    Your goal should be to STOP him and take the money out before he gets there. Then, you are a shrewd opportunistic money making trader.
     
  9. I think you try sell sum'ting ...yes?
     
  10. virgin

    virgin

    Qll,



    What's your hidden agenda ? :D
     
    #10     Feb 1, 2007