Not quite my good Captain. You will not "double" your money as you explained it. You would only double your money if he was putting up a much greater share of capital than you are. There is also a time and hassle and proprietary cost factor. He wants a profit split, he wants you to contact him on a daily basis and explain the reasoning behind every trade you made, and it is probably a reasonable assumption anything proprietary you are doing in terms of your trading system. IMHO, it would be better to try and get in with a Chicago futures prop firm from a strictly business standpoint ( and depending upon your trading system design and proof of concept ). A good Chicago firm won't really care if you have been very modestly capitalized proving yourself out as long as you are consistent and the trade is scalable and portable. Being computerized to some extent or even automated would also help your cause. His words were: "Every night, I would like to know how/why you took the trade, what you looked for, why you entered/exited. Plus, I get to see if you really can trade as you claim. This way, I am not putting up 100k here or 50k there and signing POA's or any of that. If you are profitable, then I will consider funding an account and doing a % split of the profits with you. Depending on how you trade, the type of person you are, if we get along, if you adhere to what I asked of you, that will all play into whether or not we can work together."
%%%%%%%%%%%%%%%%%%%%%%%%%%%% Nurse; Good question. answer is keep your day job. Trading is one of the hardest ways to make money. And not just my opinion; Millionaire Mind[book] by Dr Stanley says the same [IRS proof/returns] Even IRS forms can be faked, that's why Well Fargo asked to see my tax return AND sign a release to get them from IRS also.Keep you r day job ; wisdom is profitable to direct
I wish you well too, even though you ain't trading 400-lot ES contracts flipping scalps. Me and a lot of other real traders here watch live Time & Sales domes during the day. Most of the time when you post your paper ES trade calls in & out, not even a fraction of 400 contracts volume clears in real-time reality. But do continue to medicate your insecurities by posting phantom 400-lot ES scalps in an anonymous message board behind your anonymous alias... so that everyone involved are total strangers and get nothing of benefit from your input. Suits me fine, either way
I offered to teach him how to trade CL futures for a percentage of profits on account we'd work together, his control and my POA. No cash up front, nothing to purchase, no risk on his part because we can trade sim together until he sees sufficient real-time performance of mine with his own eyes before moving forward. My risk is I invest some time with him and he blows off hi end of the agreement. His risk is nil. My potential reward is he has serious capital (we establish that beforehand) and trade large in due time. #1: how many times have posters here proposed training in exchange for profits earned instead of purchased information? imo their hope was to call out vendors that supposedly cannot trade. My proposal is exactly that. #2: How many posters in this general site get right down on both of their virtual knees and worship money managers who trade OPM and make seven, eight or ten figures annually? Just throw up any news blurb where some hedge fund manager made millions or billions and everyone gets orgasmic over the prospects of being that guy. But when someone proposes an OPM project here it gets scoffed at in true hypocritical fashion. Gotta love public message boards. Anyways, if the OP wants to learn CL trading with an account balance large enough to be worthwhile for both of us, I've got time for that. Hell, I'm in the market there anyways. What is one more button to push along the way?
Seriously? Who would trust a guy that's making $500 a week? If you are going to risk a lot of money, why would it be with a small player? Let's be serious now.
Over the long run ...... " A strange game. The only winning move is not to play. How about a nice game of chess? " - War Games.
Exactly for the same reason why you objected. If I am making 20K a week, I am not interested holding your hand for an additional $500. But if I am making only a so-so profit, your additional fee can make my profit double. So OP won't attract big players, he has to be satisfied with the 500 per week crowd... And anyway, he can play their signals with multiple size....
You talk about your "children" yet you suffer from a genetic condition which prohibits one from fathering children. Not the first line of BS you've uttered here, but the first time your anon handle has been caught in an obvious lie. How about showing us one of those 400 lot fills from your trailer? Snack oil? Broken clock.
You need and automated trading system and don't quit your day job. The system can trade while you are at work.