Discretionary Day-Trading a client account and charging a commission? I know it used to be done a bit more back in the roaring late 90's, but I never see it posted around here. Let's say someone gives you $100k because he knows you have been a pretty good trader over the years. You then trade it like crazy with say a 1 cent over-ride on the commission deal you can work out with your broker-dealer. And let's say his account returns 50-100% for the year. He would be ecstatic, no? Would it matter that I as a broker rang up the register and collected $100k or even $1M, as long as his performance is way above market returns? I know this assumes excellent performance, but in looking for alternative ways for guaranteed money (in commish), and as long as the client understands that this is a "trading" and not an investment account, can't this work?? I would be interested in hearing responses. I know churning will be the key word dicussed.
