Getting money at a good fixed rate

Discussion in 'Professional Trading' started by sappjason, Dec 16, 2009.

  1. I've been trading profitably now for 2 years and am 100% automated. Last year, I was trading with a very small amount of capital (started with 30K), but early this year, I added 100K and I'm now trading with 202K. Last year (on my small account), I made 52% on over 3000 trades and this year, I'm up over 60% on 3300 trades (so far). My max dd was -8% and my system day trades stocks only and is 100% in cash every night. Max risk (per position) is never more than 1/4% of port value. So, right now, my max risk size (including commissions and estimated slippage) is around $500 bucks per position.

    Anyway, I would like to make a "go" of full-time automated trading system development. But, to do that, I would like to have at least 500K of trading capital. Which means I need 300k more.

    So, with that said, how can one go about getting money (I'm already using home equity at 3%)? I would preferably like to get some sort of fixed rate loan south of 10%. A variable rate is fine as well, as long as I can get out of it without some whopping penalty.

    I'd prefer not to use friends and family as I know that opens myself up to bad blood and other ills. I don't want to create some sort of fund.. All I really want to do is borrow money at a decent rate and trade it.

    Do I have to come up with a business plan and present it to a local bank? Will they laugh at me and tell me to go the hell home? Any thoughts would be appreciated.