Looking for a trader

Discussion in 'Classifieds' started by putergeekalb, Jul 8, 2009.

  1. Here is the situation. I have a very large account at a prop firm. I am a struggling trader. I have millions available in margin to trade intraday only. Overnights are a different story because I dont usually trade overnights.

    I am looking for someone who can somehow prove themselves to me with proof (not disclosing the strategy) and in turn use my account with a boatload of margin (as long as we dont have 10 drawdowns---after were up 10k thats fine!).

    You get 50% of the profits. Basically, this is best for someone who has a strategy BUT LIMITED CAPITAL TO TRADE IT!

    No games, no BS, this is as legit as it comes. Trades can be given to me via live messenger, phone, etc.

    Serious inquiries only. I will need to speak to you, maybe meet you, etc. We can take it from there.
     
  2. Somehow, the bolded sentences summarize your problems.

    You are a struggling trader, offering to let people you don't know trade your account with a "boatload of margin." You are either delusional or will soon be bombarded with offers from a number of delusionals, who will manage to trade your account quickly into the ground.

    You should run away, and forget you ever made this post. Even those who "prove" themselves to you are still likely to piss away your money under your terms, likely on one or two Big Bangs...

    Have you ever heard these two sayings?

    --- A broker is someone who trades your money until there is nothing left

    --- The best way to make a small fortune in the futures market, is to start with a large fortune.

    Secondly, people who are successful are kind of not in a hurry to "give you their trades by phone, messenger, etc.?" Especially when there is only a "promise" of 50% of profits. But you wlil attract the duffers in spades.
     
  3. Where are you located?
     
  4. Since a “very large account at a prop firm” is well over a million dollars, I am curious as to what you consider very large. Since anyone with $20k could open a prop account themselves and get a lot of leverage, I am not sure how there would be a trader with a proven successful record (something that is more than rare) who would take you up on your offer. It seems like you should be extremely careful about anyone who would be interested.
     
  5. To all,

    First, let me be clear that U.S. equities is what I can trade. NO futures.

    Secondly, I am in the USA, I am a white caucasian male. Didnt want anyone to think I am some joker in a 3rd world country.

    Thirdly, I have been struggling. I have had some systems that did work and they have since seemed to go south. So, that is why I am offering what I am offering.

    OF course there is going to be skepticism in regards to this, I certainly understand that. But you have to at least give things a whirl to see.

    There are MANY, MANY people who have developed a system on their on time who simply dont have the capital to put it to use. Thats where I come in.

    As far as a large account. I have had upwards of 50 million in margin available to be used. Obviously, to even think about using anything close to that, we need to be making money for several months and really have a plan.

    I am legit and I am open to suggestions....
     
  6. If you consumate a deal, would you please let us know how it is going in the future?
     
  7. Oh, so you're a US-based white caucasian male joker? I'm really glad we got that race thing out of the way.

    As an aside, white caucasian?
     
  8. nitro

    nitro

    I appreciate your courage and honesty. Given your lack of pride, it is somewhat strange that you are not profitable since you seem to have a good attitude.

    Here are some things I would be worried about your proposal:

    0) You don't mention how much of this $50M in buying power is yours. If all that is required is a $20k account to trade at this same firm, why do I need you?

    1) It seems like you want to enter into a partnership, yet you want all the flow to go your way. You mention nothing of being able to jointly look at accounts, etc. A subaccount for this partnership should be set up to keep things clean.

    2) You make no mention of intellectual property. Say I have a system, and I trade it with your account (assuming we have got past everything else.) There is no mention of assuring that what is mine stays mine, and what is ours is the PnL.

    3) There is no mention of conflict of interests. Say I decide to do this. I am making money and you decide that you also want to trade and lose money in the same account. What happens then?

    4) There is no mention of liability. Let's say that I do this, and it loses $10k. What agreements are in place that "past performance is not indicative of future performance" and that I am not in breach?

    5) Both sides should be committed to this, and to some extent to each other. If one is doing this and also trading something else, it can cause resentment. Alternatively, if all you are doing is getting a bunch of traders together offering them the same deal (unknown to each other) and then picking the winner, you should say that is what you are doing to each of them.

    6) How do I get paid? You probably get a K1, what are you going to give me, cash? How often are the payouts. Are there clawbacks. Do you expect me to put money in as soon as we are profitable, etc.

    7) In every situation I have seen where a trader waits to form a partnership once he is doing badly, it is a bad sign. Traders that want to build partnerships do it because in this business, it can be critical over the long term and you do it very early in your career if you are lucky enough to find someone you trust. You only want to do it once you can't make money. That is a bad sign. Not fatal, but bad. You are probably surrounded by a bunch of traders and yet you are looking on an anonymous web site for someone essentially to be your partner. You see?

    I have been in these sorts of situations before, even under legal contracts, and they can be messy unless everyone said is of high integrity, and that some sort of strong agreement is made. At the very least on a hand shake, what the proposition between us is going to be. It should be written down (preferably imo), and there should also be some sort of condition for termination on both sides.

    This industry is full of snakes. Just my .02.
     


  9. what is the problem with 'FUTURES or even OPTIONS'

    why in hell do you need 50 million to trade" well if you have them"

    you only need 100k to open a PORTFOLIO MARGIN ACCOUNT ....

    ps; when my account reaches 50 million i will burn all my computers and never look back
     
  10. just post your real name
    firm you work with
    recent trade blotters from clearing firms
    email address
    and explain why you think people in 3rd world countries are "jokers".

    ---------------------------------

    if you don't want to do the above, why are you using ET?

    simply use money and post an ad in a real publication.

    i am 99% sure this is BS
     
    #10     Jul 10, 2009