Just sitting here in UK - I just wanted to say that I totally agree with cashmonster he has totally hit the nail on the head.
By running with a demo account you get to understand the style and more importantly the personality of a trader. Personalities are very important in any sort of investment relationship such as the one you are seeking.
You also need to think carefully about what sort of person you are expecting to invest in/attract from the other side of the coin. Exceptional returns with very controlled drawdowns require extremely hard work (whether it be reflected in the original development of their winning strategy - or in the gifted ability of a trader day in day out).
Those who have performed at the top of their game consistently through sheer hard work and learning experiences often accumulated over a number of years will be highly unlikely to come out of the shadows (a lot of my trader-friends in the markets prefer the anonymity) and especially are unlikely to consider less than a 50:50 split. If they wanted to manage money and take 25% and were gifted they could easily negotiate a lucrative hedge fund role. If they are making 10% a week or a month or whatever - they are likely to perpetually fund themselves out of profits. Think about it if you make 10% a month (and knew your system worked) you could initally fund 50-100k off the bank and live very comfortably with no outside investors.
Cashmonster is right when he says only go with someone who does not charge a commission - again if a trader knows he can
make 200k off of 700k on some explosive track record and a 50/50 split they really aren't going to say "can i have 50 cents on each lot please" - people who have a winning system also have complete faith in it.
And Cashmonsters final point is totally true once you find the personality to trade your money and he/she has proven to you on the demo account - just leave them to get on with what they do best. Do NOT check the account intraday or even daily - seeing a trade or two or a whole day go offside might panic you but it is all part of a controlled strategy that someone has already proven to you works. As he says sit back and enjoy it each month.
Good Luck.
By running with a demo account you get to understand the style and more importantly the personality of a trader. Personalities are very important in any sort of investment relationship such as the one you are seeking.
You also need to think carefully about what sort of person you are expecting to invest in/attract from the other side of the coin. Exceptional returns with very controlled drawdowns require extremely hard work (whether it be reflected in the original development of their winning strategy - or in the gifted ability of a trader day in day out).
Those who have performed at the top of their game consistently through sheer hard work and learning experiences often accumulated over a number of years will be highly unlikely to come out of the shadows (a lot of my trader-friends in the markets prefer the anonymity) and especially are unlikely to consider less than a 50:50 split. If they wanted to manage money and take 25% and were gifted they could easily negotiate a lucrative hedge fund role. If they are making 10% a week or a month or whatever - they are likely to perpetually fund themselves out of profits. Think about it if you make 10% a month (and knew your system worked) you could initally fund 50-100k off the bank and live very comfortably with no outside investors.
Cashmonster is right when he says only go with someone who does not charge a commission - again if a trader knows he can
make 200k off of 700k on some explosive track record and a 50/50 split they really aren't going to say "can i have 50 cents on each lot please" - people who have a winning system also have complete faith in it.
And Cashmonsters final point is totally true once you find the personality to trade your money and he/she has proven to you on the demo account - just leave them to get on with what they do best. Do NOT check the account intraday or even daily - seeing a trade or two or a whole day go offside might panic you but it is all part of a controlled strategy that someone has already proven to you works. As he says sit back and enjoy it each month.
Good Luck.
