I've been trading for 2 years in the spot fx market. This January marked the beginning of my trek to build a consistent 2 year track record before I try to register with barclays and other places and try to raise funds. I'm studying for my series 3 right now and plan to take it by end of June. (having to teach myself options, which is slowing me down a bit). I've recently had the amazing opportunity of having a hedge fund manager here in my hometown of Charlotte, NC begin to meet with me, and show me the ropes a bit concerning trading as a business. He has a decent sized fund (>10m). He was initially a discretionary trader when he first began to dabble in the markets but eventually taught himself coding language and transitioned into a quant trader. He is very biased and is trying to convert me. It is his thought that it's very hard for a discretionary trader to raise institutional capital. He says that you really need to have a quantitative method. My question is this: Is that true? From a couple of threads I've perused, I notice that there are some fund managers in these here forums. Would any of you care to comment on this? If you have a 2 year track record with steady growth and very limited drawdown, a solid sharpe ratio...is it possible to raise some seed money as a discretionary trader? Also...I should define discretionary as I think of it...to me discretionary is a trading system that has a manual pull of the trigger. A very strict set of rules governing the trading methodology and risk parameters, but ultimately a discretionary decision on whether a trade is taken or passed. Any thoughts you professional traders out there???