Hi guys I was wondering if there was anyone out there who is willing to give me any advice on how to start off a career as trader. I have business experience for 3 years, sadly not in the financial market but in property. If there is any advice anyone can give me it would greatly appreciated. Thanks
Is this legal? *Set-up an offshore company (HongKong by example) and trade with the money of the company *Set-up an offshore company (HongKong by example) and trade with the money of the company. You sell a stake in the company to different investors. *Set-up an offshore company (HongKong by example) and manage other people's money. Accounts are opened by these people and the company just manages them.
As soon as BX and FIG went public, that was the clearest sign that the hedge fund world was ending. Easiest thing I ever took notice of... All these funds will go away one by one until there are none left, except maybe a few that you could count on 1 (maybe 2) hands. Hedge funds are part of the glut and capital misallocation in the system. One way or another, they will be purged and reallocated.
Hi there, Sure it is legal! The CFTC and SEC have no business in HK. They can't touch you. But you should know you're still regulated by the SFC of HongKong. You need to apply for a type 9 license. Might as well do it in US because HongKong is really really well regulated. Better than the bureaucrats here in the US I'd say.
Hi First of all I'd like to thank you for starting the post....it's a ton of helpful info. I was wondering who did the back office work for you the first year? Under 1k for back office work?
I absolutely agree with never placing a physical stop. Stops are your saving grace but will also slowly kill you. I use use options as my stop and place my trade slightly away from the market price basically straddling the market and letting the marketing decide where to go. My stop is the difference between the two orders and is usually 1% of my account....
I agree and disagree. Close stops will kill you over time but I gotta have a disaster stop. I typically keep my stops 5-10 points away from the market depending on the level of volatility but I rarely lose money by having my stops triggered. I take the loss manually most of the time.