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But with the decreased trading power it will be more difficult to recover from a drawdown. When you have 1M to trade, recover 100K loss will be easier if you now left with only 10K to trade? This will be unfair to the manager.

Say, if I manage one client's money and successfully bring its account balance from $10K to $1M, and certainly during the course I have also increased the trade size. And now because of some drawdown the account dipped to $800K, that means I have a $200K gap to fill before I can continue to...

Any one has the statistics for the next day after NAS/SP/DOW down 4% on the day before? It could be interesting.

To Landing, and every one else, Is there any registration or notification requirement for New Jersey where the LLC is organized and operates?

LLC by default taxed as LP anyway, profit/loss are pass-through. Good point about the 60/40 tax benefit. And I think I will make sure form D is filed. Thanks again for the insightful comments.

Landing, thanks for your comment. Yes the LLC has obtained NFS exemption but I was not aware of form D. For a fund that only offers commodity and futures products does it also required to file form D? I will research and look into it. Also, do you know is there an election of trader status...

Ok, you guys know I posted questions related here before. Now a LLC is setup, 5 members. Operation agreement drafted and can be signed. We are close friends so it is VERY UNLIKELY we will sue each other for 10K's sake. So what else I need to do to legally able to trade...

Bump. I am sincerely looking for some answers and guidance.

You guys might still remember I asked around here some time ago about incorporating and trade with other person's money. That question aside, in the mean time I am seriously considering leaping forward and start full time trading as a profession after doing it alone with the job for so many...

Thank you. I am located in NJ and I think most of the future investors will be from NJ first. Probably will include CA in later phrases.

Going this way, to me, the problem is the tax. If I lose money, then they can not deduct the lost; if I win, I pay all capital gains... It is not fair to all the parties and I don't know IRS will be looking for me if my personal bank account grown up 250K overnight.

Thanks a lot for the valuable information. I have already been managing a IB F&F accounts (you can see it if jusy searching for my posts) but unfortunately some instruments I am doing is not available at IB. So I am trying to go the CPO route. The docs you mentioned, was there any templates...

Thanks. I am in particular asking for the needs to manage by trading future/future options/currencies/currency options. I am sincerely looking for answers/experiences and advices. I do consider I am capable of to be profitable and I am trying my best not to fail, I am treating it as real...

Not sure why earlier post is not showing... Thanks for everyone for the advises and recommendations. At first I did not get any response so I thought nobody wanted to answer. But today I checked back and surprise to see there are 3 pages of replies. I have been in the market for very long...

Reply to this as a summary to all the questions... 1) 8 years trading futures/options. 2) Yes, real trading of 8 years. However I was not really doing it as a serious thing until about 4 month ago I decided to give it a serious try. And yes it is profitable and have enough sample to prove it...

Thanks for everyone for the advises and recommendations. At first I did not get any response so I thought nobody wanted to answer. But today I checked back and surprise to see there are 3 pages of replies. I have been in the market for very long time although my profession is not in trading...

Sorry for the repeating of questions... But I am hoping that I can get the most "up-to-date" answers from the pros. I don't have any financial background. However, Pretending I am able to pull it off and now I am trying to move to this completely new profession, what qualification I need to...

Thanks to all the guys here. Wish you succeess and hope you all shorted this morning :)

I am profitable on commodity and their options. I am currently operating a few accounts for others for free. I am considering of expanding the accounts and collect performance based fees, which I think requires registration with NFA, so I need to pass series 3... My question is: I don't have...