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You'll have to check around. I've heard FoF fees at 1% AUM and 7% of new profits. I have no idea how this compares with the industry. They usually have to get the fund they are investing in down on fees too. I've heard getting the funds that you're investing in down to 1% and 17% is decent...

The difficulty is in raising capital and convincing your clients that they need a middleman (i.e. you) to put them into funds -- if you have to lots of capital sources, then this could be the game for you. But you better add some value in the portfolio selection process, otherwise you're just...

80% of my longs were up and 72% of my shorts were down for the day (36 securities total). Doesn't feel indiscriminate to me.

CCJ - about $50 MM worth of volume a day

That's fantastic. Good for you. My wife will not get close to this stuff...I probably bored her one too many times with some story about net exposure or volatility. btw, the ES action stopped. Must have been some software test or some exercise.

That's a good policy. I used to update daily, but found economies of focus so to speak, if I could just sit down and do the whole week at once. But I commend you....one has to stay on top of this stuff...also my gym is crowded by 5 -- If I don't get there by 4 pm it's a pain.

I have to do some accounting for my fund this morning...the dark side of trading as a business that no one tells you about...charts just happen to be up.

Anyone else seeing this? I'm seeing orders on the Mkt Depth. I'm seeing orders crossing times and sales. It's wierd. Although some might suggest that the Tradestation data is just catching up with yesterday...

It's 10 AM CST on Sat and the ES are ticking between 1239 and 1238 and change. I have tradestation data -- did CME change the hours? Am I missing something? Or is it really Friday and my week was that confusing? :confused:

I am just hopping in here without read all of the posts. Let me say this. I have started two funds, once with a prime broker and once without. There are only a few reasons to use a prime broker in my opinion: 1. You plan on trading through several brokers and need a place to consolidate...

btw, you need amasters or equiv to be a broker at goldman. these days the preferred euphamism is FA or Financial Advisor

UPDATE -- I finally got it. Fader you were right. I had to use the: =mydem123|acct!id2?acctp? (replace id2 with id# for any other line of your portfolio) for each id# I was requesting. Previously, I was mismatching the IDs and nothing was coming up. Thanks for your replies!

Hmmm. I tried both of your suggestions and neither worked. Both times, the result returned was "0" to the cell. Excel is clearly communicating with the TWS, because if I alter the suggested strings I receive a "Invalid req type" error. If I enter the wrong server I get an error, so clearly I...

yes, it works with IB's example -- but I'm having issues connecting from a new, blank worksheet.

I have spent much of the day searching for a very simple answer on Elite, IB help forum and their documentation to no avail. Here's the issue. I am simply trying to pull my account info into the IB using DDE. The API is installed, and TWS is configured for DDE. I have looked at the IB...

KTM is right about this -- and I believe (although this should not be construed as legal advice) if you are under $25 MM in assets you CANNOT register with the SEC as an advisor -- in other words, funds/pools trading securities with less than $25 MM are exempt from registration. I believe the...

I think you'll just have to hire a third party/independent accountant -- so whichever one you can negotiate with to verify your statements etc. at the lowest rate. At this stage that's probably all you need...

Of course a purely discretionary trader can be consistently profitable....obviously you have to have something guiding your decisions, but you don't have to hold rigidly to systems to make it (btw, I trade portions of my fund with discretion and portions systematically, so I would also argue...

I sat down and thumbed through the Mandlebrot book in Borders one day. I tried to just hit his major conclusions -- many of them are things that traders already know...like the markets are much riskier than you would think...some interesting stuff, but I think I'd either get it from the library...

Almost any broker could get acquired... why spend your time worrying about it? If it does happen and you don't like it, you'll have plenty of time to change brokers.