If you offer me some incentive, I can open a thread here in ET making real time calls that pick almost every short term top and bottom on SPX.
Opening a fund in the BVI but refusing US clients is not expensive. I am not going to give more details. I don't want anybody to get in trouble. If you don't believe what I posted, then don't believe it. I traded a few years with that broker before I started the fund. My broker obviously knew each trade (and the result) that I did.
Size limitations, 24/7 busy and no time to enjoy life anymore, my personality (that only accepted to use the fund to make enough money to start on my own).... It was not a matter of making millions, or billions. I never had that ambition. I just needed a good starting capital for trading only my own account. The fund and my broker helped me a lot with that. I would even have flipped burgers at Mc Donalds if it would have helped me to raise my own capital. You see everything from your point of view. You clearly don't understand that different people have different goals in life. Your logic is that what you like is the standard for every human being. They should all do what you do. I know people who love football and I know people who hate football. That contrast you will find in anything in life. If not we would all have the same job, the same car, the same wife, the same number of children, eat the same food, live in the same house in the same street... So that's why not. But I think you still don't understand it.
If you can pick almost every short term top and bottom on SPX and trade it (big difference between calling and trading, though), you'd be very, very wealthy quickly. Which raises the question: Are you very, very wealthy?
Yes. Yes. Yes. I don't speak for everyone, but I can only assume that a big motivation for why many people want to become traders is the independence and precisely to no longer have a boss or someone to answer to. If you're managing millions or billions for external investors you're putting on a high amount of external pressure, stress and have many people you need to answer to. As a (highly successful) independent trader you answer to noone. For me, that's the ultimate lifestyle. Even if I could earned more managing money.
Exactly if he can pick tops and bottoms with even 65% accuracy and 1:1 RR on a regular basis in ES he will be very rich. Those stats have a Kelly bet fraction of 30%. Half kelly would be 15%. Im sure he will claim even higher than 65%. So his system is even better. I wish i had a system that good.
The same way you are jumping into conclusions here? I was just asking. And as you see, even you "just needed a good starting capital"...so you still preferred to take that journey EVEN THOUGH you are SO different with your goals Usually when people are good at something what they do, they pursue this to the next level. A fund is a logical next level, imo. Sure, it's just my opinion. But again, i was just having a discussion. and btw, people who engage in financial markets and trading/investing and are generally interested in macro economics/fundamentals/technicals/charts have more in common with each other than a trader and a musician for example...on average...
That's great. Would you mind sharing approximately how large of an account you're using to generate those kind of returns? It's also my view that day trading or any kind of active trading only makes sense if you're making really good returns on your capital. If not, why invest all that time when you could just park your money in an index ETF or similar. Of course, the next 10 years may not be as good as the prior 10 for long term holding (I hope they won't be).