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    First Day Drawdown

    BEEN THERE! Based on my experiece you probably feel like shit right now but you just have to get back on that bike. I've fallen off the damn things more times than I can count. I've come back every time! So can you. If you have confidence in yourself, and it sounds like you do, just get...
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    No, you don't need a trend

    Here are the basic elements of the strategy with an example. This past March UNH gaps down from the mid-40's to the high 30's and I bought around $39. At this point the stock is basically a falling knife so I'm just buying a starter position. I know I want to own the stock but I don't want to...
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    I "feel" i want to be a trader... The self delusion.

    Basically agree with your post but some do have to talent to make it work. Some will succeed and some will enjoy the benefit of trading from home in their PJ's, with no boss looking over their shoulder. The odds are stacked heavily against you but if it is your dream......
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    Starting/Working for a Hedge Fund

    Thanks for posting this wenzi. This is very useful for someone who is just starting up.
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    Starting/Working for a Hedge Fund

    When I first started I took accounts as small as 10k. Now I have a min of 25k but may be increasing it. Typically, non-family members tend to fall in the area between 25k and 50k but it depends on the wealth of the person. You will find some individuals who have 500k to invest. Institutional...
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    Managed futures

    Managed Futures and a Hedge Fund can actually be one in the same. There is a category of Hedge Funds called Managed Futures, which is the category mine falls into. Some others are, Distressed Securities, Market Bullish, Market Bearish, Market Neutral, Real Estate Hedge Funds, Precious Metals...
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    Starting/Working for a Hedge Fund

    Depends on your trading ability. If you have a good track record and you feel confident you can generate profits then it's not a bad idea. I know a guy who does exactly what you are suggesting. He deposits T-Bills with his broker as collateral and trades off the margin he gets in return...
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    Starting/Working for a Hedge Fund

    The reason I don't use physical stops is because I sell rising prices and buy falling ones and my timing just isn't good enough with this method to use stops. The darns things got hit right at the exact tops and bottoms of the market so I had to figure out another way. I have a lot of...
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    Starting/Working for a Hedge Fund

    I did an LLC, which manages the LP. I think you can do an LLLP that covers both of these bases with one entity. I do a 1% and a sliding scale % of profits, which starts at 20% and slides up to 50% based on performance.
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    Starting/Working for a Hedge Fund

    The CFTC's De Minimis exclusion is 400k and up to 15 people, not including family members. Most states follow these guidelines. California is a little tricky. Before I became registered I did not accept any investors from California because they live in their own world out there. Once you're...
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    Starting/Working for a Hedge Fund

    In my personal account I did triple digits for 2 consecutive years then did the fund. I don't think I can talk specifically about the returns of the fund w/o perhaps breaking some sort of law so I'm going to err on the side of caution and say my returns in the fund have been less than in my own...
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    Starting/Working for a Hedge Fund

    You can have up to 35 non-accredited investors in the fund, which covers family members.
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    No, you don't need a trend

    1- What if you are wrong and buy and buy more and buy more and it still goes lower? You never sell at a loss? Haven't you ever taken a huge blow?-------->>> I give myself a maximum of 3 triggers. Once I take the 3rd I switch from trying to generate profit to managing risk. On paper this...
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    Oil...is there a bottom?

    Futures trading is not "all or nothing" trading. You trade them just like you do stocks. The only real difference is futures contracts are standardized and leveraged.
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    Oil...is there a bottom?

    "10-1 margin speculators must be getting killed." There simply isn't a better market to be trading right now. You can either trade it or you can't!
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    Starting/Working for a Hedge Fund

    I doubt it. At best someone can post something and bump it up a notch.
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    Starting/Working for a Hedge Fund

    Not marketing at all marketsurfer. In fact, if I did that I'd be in direct violation of Blue Sky Laws. I stated in the opening post that this thread is not a recommendation to buy, sell, or sell short any securities of any type, nor is it a solicitation to invest in any partnerships that buy...
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    Starting/Working for a Hedge Fund

    Looks like I've fallen behind on a few questions here. malice, you don't need to go to Ivy League to be successful in the market. What you probably need most is an incredible drive to be successful. You can be successful in the hedge fund industry in one of two ways -- either become a top...
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    Help regarding “Pooling of Money by Friends and Family in Trading”

    He has 2 choices -- IB or a partnership. The IB route would probably be best but if he wants to grow things a little bigger with time the partnership is an option. The downside to the partnership is the startup costs and the tax prep at the end of year. You can get one done for about $500 if...
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    Help regarding “Pooling of Money by Friends and Family in Trading”

    Is the pooling of money beneficial & legal? Since, we would like to have enough money to trade a trend following system combined with a bond and e-mini system to give us diversity.---->>>> It's perfectly legal. You can either setup a friends and family account with IB or you could form a small...
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