what is the time frame that you expect to make money??? I mean...will you be expecting those kinds of returns after trading a few weeks...a few months??? If so then we're thinking just like i did when i started!.....KOOL
Maybe don't use your friends money first up until you've built up enough confidence in your trading abilities. Nothing like the fear of losing your own money to build up experience. Good luck with your journey and the best way to learn is to get in there and do it yourself (with a plan of course).
I would suggest you start trading with the minimum you can for 5-6 months to see if your method works well in practice, when you are confident and your returns are consistent increase your size. You wouldn't read a book on surgery and then go straight into the operating theatre would you?? I hope your investors have enough regard for there money to first see you trade well for a few months!
Interesting, you know two people that you don't consider your friends (and vice-versa) that are willing to let you run off with $20k and lose all of it? Are they asking you to sign anything or do they plan on just handing you checks and trusting you to do the right thing if you do show a profit? Its hard for me to believe two non-friends could be that nonchalant about $20k.
it won't matter to you that this is technically illegal? No one on ET would ever think of trading for friends and family w/o their proper licenses! In all seriousness, I know this guy who knows this guy whose best friend is roommates with a guy who does exactly what you're doing. He takes 50% plus a 1.95% management fee. He accounts by using an open ended fund concept and assigns shares to his "partners." Calculates NAV, blah, blah, blah..... You'll lose money. No doubt. Well, unless you've traded before......... even still, you might.
yes, people like this exist. this type of loot for these two is like buying a lotto ticket for the average joe. it's a drop in the bucket. i've seen one of them drop 5K on meat, wine, and liquor for a weekend barbecue for 50 people. no special occasion, just because he can. I'm still looking into the legality of the whole set up and would definitely not want to break any laws in the process. they claimed that we don't need to sign anything. I'm hesitant on that aspect and would like to draw up a written contract. I'm still thinking of what's the best way to set this up, any help would be appreciated.
Are you having sex with any of these men? Will you be planning on suing the broker if you lose? http://www.elitetrader.com/vb/showthread.php?threadid=52356