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well it's obvious you know much more about this than me. thank you very much for your help. i will look into this all as you suggested and i'm sure your advice will prove quite valuable. thank you so much for the advice adam

point well taken about taxes - you are correct and i should have known that. however, there are still some issues which could complicate things in a pooled account within my LLC: 1) if she wanted to add/remove money from account (or if i did), % interests in that account (and in LLC) would...

My difficulty is that i fear the unexpected and the burdensome. e.g. for these pooled accounts, 1099s/taxes could become an issue. if she was an LLC member, % ownership of LLC could fluctuate every time i was to withdraw a managment fee. let's say she wanted to withdraw funds - i would have...

hey if signing an Asset Mgmt Agreement is really the only thing i would need to do (which was my original thinking before everyone in this thread started suggesting LLC / LP / etc), can you think of how i might be able to buy something already created by someone else (ideally a lawyer)? of...

SupremeTrader & OptionTrader Really great insights. yes, i was looking to do situation #2 - but i had never thought of that scenario for getting sued. while i doubt there's any way my client would be able to know about how well my own trading account performed, she could possibly subpeona...

oh - i assume OP is me? listen i do appreciate you posting and i am certainly looking for advice here or i wouldn't have posted in the first place. as far as me paying double if i did this right now you are probably right. as far as me getting sued you are probably wrong - only because i'm a...

what is the OP? i just posted before you too

i do appreciate your thoughts but i'm not comfortable (at this point) having anyone else be a member of my current LLC. i am going to talk to my accountant and possibly a lawyer about this to discuss. i think at this point i'm more confused than when i started! no offense ... i'm laughing...

hey i can appreciate how easy what you're suggesting sounds, but i can't have her be a member of my LLC. the main reason is that i don't want to share my intraday trading profits with her - i want to trade her account as a position trading account only. if you think about how day trading...

Zastaber - that had been my plan, but the question is - what is "standard" and where can i find a "standard" contract between client and myself, having Trading Authority on account? cszulc - i agree and agreement is neccessary no matter what. my questions at this point are whether i can just...

optioncoach - i appreciate your thoughs - thank you for posting. i would like to ask you 1 question as i'm not sure how much of the thread you have read - would you still suggest me creating an LLC or LP even if i'm not sure i want to branch out and add clients? (even if i don't plan on this...

to the last 2 posts - currently i am trading withing a single-member LLC. however, the agreement i would make with my aquaintance would be completely outside of this. IOW, she would not be given any membership within my LLC. that being said, i am open to forming various types of partnerships...

hey - i really appreciate all the thoughts here. they are really helping me get off to the right start. now i am wondering about auditing based on recent post. if i wanted to show my track record to other people to solicit business, what do people expect to see? are monthly statements and/or...

well i guess i better take the attorney thing seriously then. i better start looking!

i agree - i was planning on getting an attorney to review whatever i created, but i thought it might be too expensive to pay an attorney to create a contract from scratch. i'll consider it if i have to though. thanks for your thoughts - adam

i am a B-4 IDEM seat holder, and i personally watch the seat prices closely - and you are correct about the price swings since the CME deal. i am not sure if i am in the majority opinion in saying this, but i beleive the benefit of the CME deal has more to do with solidifying CBOT's future than...

Hey everyone After a number of years in trading, I am finally planning to take a stab at managing money. I have a client I plan on starting with who will give me 100k-500k. It would be my responsibility to create the contract (for client's approval of course). As opposed to re-creating the...

Hey Thank you for the advice. I was looking for this type of page but maybe one that also contained the actual quotes/ % change of each sector: http://uk.biz.yahoo.com/sectors/ The page below is ok, but it is only available for the FTSE and nothing else...

Anyone know good web sites for getting international data at the sector level? For example, what did Internet stocks, Mining stocks do overnight in Japan? Europe? Thanks - Adam