Looking to hire a few traders...

Discussion in 'Trading' started by trade-ya, Sep 21, 2003.

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  1. trade-ya


    Post deleted by the administrator. See last post in this thread for details.
  2. Where do I mail the check?
  3. This looks completely stacked in your firms favor. You want their strategies and want them to take the risk .Why would a successful trader accept such an offer.
  4. what started as a very interesting post and offer soon digressed into "just another prop firm recruiting" thread. wonder if this is revealed in the private placement memorandum to the "partners" ?? LOL !!! ahhh, how to make it compelling ?? the hedge fund angle growing a bit over used ?? why not allow the traders to trade the firms capital instead of bringing in their own ?? never saw a "hedge fund" operate any other way. LOL !


    surfer:):) :confused:
  5. i'mlong


  6. Eldredge


    I think you will have a hard time attracting a truly successful trader with your proposal. The only thing you really have to offer is leverage, and it is doubtful if a trader that meets your requirements would be in need of more leverage. If he was he could find a much better deal (less than a penny a share, and nearly 100% payout) at other firms.

    If you want to open a prop shop you should be upfront about it, and offer better rates. If you think a successful proven trader will give you his strategy and 10% of his profit for access to a nice office and some leverage, I think you are kidding yourself. I think that making him a partner and sharing in the firms profits would be more realistic. Just my .02. Good luck.
  7. trade-ya


    Thanks for your replies thus far. Of course it is stacked in my firm's favor. How is that different than any other business, day-trading, hedge fund or otherwise? There are certainly people out there that are trading this type of deal, I think I have somewhat more to offer than a Worldco, et al type firm. If they are trading this type of deal anyway, why wouldn't they want to do it at a firm with something more to offer? I am trying to be very honest and lay out what I am looking for. If it can't be done, it can't be done. I'm not in NEED of daytraders, i'm just looking for some. Thanks, please keep the replies coming.
  8. trade-ya


    I am well within my rights as the General Partner to do what I propose. As you know the Offering Memos are written very broadly and I know that my partners would not have any problems with what I seek. To answer your question, why don't I just let them trade the firm's capital? The answer is simple, why would I let an unproven guy risk my capital? What is his edge? If he's got so much confidence in his strategy, let him put his money where his mouth is and then I will consider putting up my capital along with his. Again, if it's not for you, so be it, I'm not looking for tons of people, just a few good ones.
  9. are you requiring the "traders" to be accredited investors ?? how much capital are you requesting ?? i am not sure how earning 10% of the profits of these traders will create a "revenue generating engine" for your supposed large fund . this really makes no sense.... any offering memorandum that i have ever seen advises as to who will be trading and making the decisions. however, ofcourse, this does not mean one could not be written differently.


    #10     Sep 21, 2003
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