Raising capital for a private trader system

Discussion in 'Professional Trading' started by Tinkerz, Sep 23, 2006.

  1. What are your real-time trading stats so far?
     
    #11     Sep 24, 2006
  2. contact Benchmarq trading in NYC- they work with a $2B multistrat hedge fund and are looking for traders who want to automate their systems. they also have programmers you can work with. not sure what the terms are though. good luck...
     
    #12     Sep 24, 2006
  3. Grant

    Grant

    Tinkerz,

    As you are currently employed, your earning money. How much is irrelevant; it may not support a life-style of drink, drugs and prostitutes but you survive.

    Most would be tempted by the potential of NYSEscalpa’s suggestion but consider the possibilities if it materialises: they’ll have your system, keep you happy for a while, then your out. These guys ain’t fuckin’ social workers.

    Is the system your referring to also used by the three traders you work with or is this totally your own, not used by the other traders? If so, keep it to yourself.

    You say the success is a combination of the traders’ experience and your programme(s). This being the case, I would suggest the hard work is (almost) over, the simple part is clicking the buy/sell buttons, ie trading.

    You say you need time to compile real-time data, well you’ve got time. Actually, you don’t have any options. When you’ve got sufficient data, and some kind of verifiable system (I don’t think actual trades would be vital, but obviously they would present a more compelling case), then with the programme that you kept to yourself , go forth into the world.

    If your system meets all expectations approach potential backers. To counter natural scepticism, I would suggest you offer to provide $X trading capital, which they match, and trade this. It will work, or it will fail. You won’t need to go to 100% down before the plug is pulled. The broker’s loss is partly mitigated by the knowledge they didn’t put in all the capital. They don’t need to know the system, nor should you reveal it – you can sit at the next desk as a form of reassurance/oversight. Trading systems today provide for controlling an individual’s risk and exposure. They have nothing to fear from anyone taking a flyer.

    People spend a lifetime perfecting systems. If you already have one, don’t compromise for the sake of overnight fame and fortune.

    Grant.
     
    #13     Sep 24, 2006