I concur with areyoukidding. See if they have any friends with 1MM they are looking to seriously trade.
I don't really understand why everyone's giving him a hard time and referring to him as "arrogant". People need to be confident in their abilities. People who are bold and imaginative are the ones who become truely "great". Of course, by bold I think calculated risk and knowing as much as you can and having a good foundation to stand on, not throwing yourself without due preparation. He could be a John Maynard Keynes for all we know (highly intelligent and successful in most endeavors, [investing* was one of the subjects he {JMK} was successful in]). Its also a bit redundant and time-wasting to continuously tell him his expectations aren't really logical/probably. He knows this, he seems to have at least a bit of knowledge, he's paper traded. He knew it was going to be hard. He was/is being idealistic for sure but its just a waste of time telling him he's arrogant and won't make it when A. you don't know B. he knows the criticism your giving already. It just seems pointless. *Note I said investing not trading. Cooldude, I believe he "Scotch750" was kidding about having "no plan". Right after he wrote the speel about going in without a plan he mentioned using stops and he has mentioned having a "system that works" several times. He was being sarcastic, I believe. Scotch750: are you day trading? or is this a position trading system or swing trading, can you give us anymore information, or was being vague intentional? I believe someone asked but it wasn't answered fully in my mind. Legally Walthers comment about joining in a partnership seemed to be the best, simplest, and I know you dont want to do the investing advisor tests and such but thats a pretty good training right there. Taking the tests and learning before, you surely will take something from it. I'm not going to read this thread anymore so responding won't have an actual effect on me, but you could PM. And no I wasnt trying to insult/ruffle anyones feathers. I just think he already knows the risks and needs more constructive criticism. I don't think I would be good at giving anything really "worthwhile" so i'm not going to give any sagely advice on the actual dynamics of trading. My two cents: Prop Firm seems the way to go, accept your friends money, and put it in a seperate business account and say I will invest for 6 months with my own money and if I've broken even or made profit with my money in 6 months then I will throw theirs in the pot. If you can't last the 6 months before you want/start to (you will always be tempted to) take their cash. You have no discipline and hence need to a. go back to paper trading or b. stop and go back to clinical psychology. I say accept now because you dont know their future. they might want to use their money on a new Yacht or something when people dont have the money in easy access they lose track of it partially.