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Neither of those two reasons apply to me. Like I said earlier, I started a fund for two reasons: 1) to make more money (without increasing downside risk), 2) because I like building businesses.

The two aren't really all that similar. Trading is just a small (albeit critical) part of the fund business. If you WANT to get into the fund business, then seeding with your own assets is certainly a great way to make that happen. Say hypothetically you are successfully trading your own...

I don't think any sophisticated investor will ever give a manager any money on the basis of a "secret" niche advantage. That's just my two cents as both an investor and a manager. You can say a LOT about your strategy without giving up "trade secrets".

You're getting a lack of helpful responses (and a healthy dose of skepticism) because of the substance of your own posts... or more accurately, due to the LACK of substance in your posts. I think this has been mentioned repeatedly before. Sophisticated investors / managers understand a...

... wow. Trading in SPX variance strips will be fully electronic. No quoting will be permitted; only “limit” and “day” orders will be accepted. Market and GTC orders will not be accepted. ... And you ended up with a strip of options. I get the idea, and it makes sense in...

You guys crack me up. Anyways... I've been married for 6 years, and we dated 5 years prior to that. We have 2 kids. I make 7 digits a year from trading, and she makes 6 digits a year as a physician. I didn't sign a prenup, although we did discuss it at the time (since I brought in a lot...

Yea, I'd focus on rates too. IB is in someways easier to work with.... They give you a lot of tools in lieu of service. You can also look into Advantage.

I think you have to figure out what you're looking for.... - low rates, - customer service, - capital introduction. Depending on what you're doing, some of the above will be more important than others. No one will give you all 3. Heck, many won't even give you ONE of the three.

Uh, no. That's not legitimate nor acceptable. A lot of failed funds would be thriving if they could mark to some theoretical value... Like LTCM, MFG, etc. What, are you selling calls? Is that the strategy?

I've used Ninja for 4+ years, starting with 6.5 and migrating to 7.0. I run automated 23 hours a day, 6 days a week. I *fill* anywhere from 250-400 trades a day, 3-5 futures contracts each. Fund and managed account together, I'm trading about $7.5 mm worth of accounts. There are a few...

If you're trading futures, then CTA is the way to go. Lots of resources from the NFA examining the testing and disclosure requirements. If you're trading securities, the road is long and complicated, with or without a fund structure.

By the way, does IB only allow "random" allocations of buys/sells? NFA has several approved allocation mechanisms, right? Including rotating based on account number, for example? If you used the same rotating based on account number for buys/sells, the problem would go away. I.e., your...

Does IB allow average-price on give-ups? Or does it only allow you to allocate individual trades to each account? Seems like a real pain. I have a real issue dealing with reconciliations too, and I just have *one* other SMA account. But I trade quite a bit (sometimes 50-80 different...

I trade just about everything, since it's all automated and not fundamental-based... energy/softs/grains/equities. I'm fine with my existing execution setup (execution w/ Rithmic, clearing Vision but could be really anyone). I just wanted to use IB for some discretionary hedging trades...

The managed account I wanted to partly execute thru IB is > $1mm, and my fund is even larger. And they still won't do it. I kinda feel like they just don't want to put in the back office to enable this, period. And all at the same time, they out of the blue are harassing me to validate my...

Yes, I'm referring to clients choosing to place accounts at other FCMs, executing at IB. They seem to make it impossible, and I guess that's now confirmed. It's weird since the other 95% of the futures industry is happy with this model.

I've been talking to their professional guy in Chicago, and I'd think he would know... And that's what he seems to be telling me. Just wondering if anyone knows otherwise.

Has anyone figured out how to use IB as an execution broker, for those of you as a CTA? I'm being told IB won't give up trades to any other account, unless the other account is also in your name... that means, to the best of my understanding, you really can't use IB to execute away for managed...

Unless your strategy is quirky and extremely non-normal, then really it doesn't matter what time frame you're calculating Sharpe at. It should all roughly be similar, as long as you normalize to annual terms (using *sqrt(T)). (For example, I calculate with both weekly and monthly returns...

I'm assuming he's marking to market every day, and calculating sharpe on daily basis incorporating daily dd. If he isn't.... Then what's the point.