Quote from Xtrader59:
If I were consistently profitable, I would gladly take this challenge. Here are the terms:
You trade my account (up to 100K, you may choose the initial balance)
You earn % on generated profits (we may negotiate this) paid on a monthly basis
You guarantee my initial capital
The terms of the guarantee are this:
You deposit funds 100% the amount you will trade and guarantee with a reliable (to both) third party financial institution or broker
This deposit will be hold blocked under certain conditions
The conditions are:
You may trade this account but you cannot withdraw funds for a limited time
There is a % drawdown that I must tolerate (and a minimum time) before I acquire the right to close the contract
If I decide to close the contract, I show the third party a complete account statement and they transfer the necessary funds to my account to turn it back to initial value
As a compensation for this increased risk, you earn an additional % on profits during the period of the guarantee
If you get to double my account I have the right to withdraw initial capital and this releases the guarantee
Once the garantee is released we may freely recontract another round or I may prefer to take the risk myself (based obviously on your performance)
I think these terms are fair. Unfortunately, I believe there is no way to bring this to reality (is there such a blocked deposit maintained in financial intitutions or brokers ruled by the terms of a particular contract?)
As I said I would take this contract (in fact I would propose it) if I were profitable. But after 10 years in the market I found nothing that really works
I don't know if there are legal obstacles for this too
Someone would have to be desperate (no cash and not worried about bankruptcy) to bother with this. Or they're from Nigeria and have figured out a way to just take the capital.
100k is play money so why would anyone here bother?
