How does someone get the capital required to turn trading into a business?

cornholio said:
So if you are trading family/friends money do you have to get a CTA license and are you considered a hedge fund? I heard also about seed capital firms like BRI Partner's in Chicago - What's your take on this route? I think you would get more money than from friends/family but who knows what strings are attached with these places.
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I got a CTA series 3 license bcuz certain states(like florida) are very particular on how you portray yourself when you're managing other ppl's money. My doctor friend/client is just a very good family friend, consider him "like an uncle" bcuz ive known him since i was born, but hes not blood related in any way. Other than that, most of my other clients I met thru my sister's husband(who is also a doctor) and hence most of my clients are drs and surgeons, and a couple attys.

I do have an unbreakable rule: I will not trade my sister's and her husband's money either as a joint partnership acct, separate accts or other wise. I don't trade family/relatives money....PERIOD ...to me its taboo. Thats all I can say about that .....and I sleep a lot easier at night with these set of rules.
 
Working as IB with some broker may give good amount to start your business from zero. it is really a good opportunity . currently i'm working on it. i'm IB with 3 fx broker. i got my first 15 clients.
 
jb3398 said:
What kind of family members or friends do you know that will give you money to trade with? Without having a successful trading background!
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Obviously you need a track record...

I have a Samsung Galaxy Note 2 phone. Looking to upgrade to the LG G Flex with T-Mobile on 4GLTE. That phone is 6 in display which is bigger than the Note 2. With the most important aspect, having 4G LTE for faster executions and application stability.
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Nice.
 
SouthbeachCTA said:
I do have an unbreakable rule: I will not trade my sister's and her husband's money either as a joint partnership acct, separate accts or other wise. I don't trade family/relatives money....PERIOD ...to me its taboo. Thats all I can say about that .....and I sleep a lot easier at night with these set of rules.
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Yeah I don't know if I want to trade family money anymore.;-)

Still trying to figure out if this topsteptrader is a scam or not. Would be nice if I knew someone that completed the test and got funded and has no problems with them...
 
teima said:
Working as IB with some broker may give good amount to start your business from zero. it is really a good opportunity . currently i'm working on it. i'm IB with 3 fx broker. i got my first 15 clients.
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Nice thanks for helping.
 
cornholio said:
Yeah I don't know if I want to trade family money anymore.;-)

Still trying to figure out if this topsteptrader is a scam or not. Would be nice if I knew someone that completed the test and got funded and has no problems with them...
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There are a few guys on ET that have passed and have been funded with TST.
 
The advice of trading money from friends and family is the worst I've ever read in this thread.

Maybe after you've demonstrated profitability through a wide range of market conditions during several years of live trading, but having done that, you shouldn't need it anyway.

I actually had several friends who wanted to invest when I started day trading, but I said no, something I'm glad I did now.

Swing trading with a day time job and having a long-term perspective is without the best way to do this. If you hate your job, get a new job. But keep working and having income until you no longer need it.

Put yourself in a position where you don't have to make a killing as a trader, but can trade intelligently without any pressure. Be in a position where you can be flat for weeks and even months, waiting for the best opportunities. Don't be the guy who simply have to trade all the time. Don't withdraw money. Compound your profits. Add money to your account if it goes well. Success.

TST is also an alternative. My only concern is that I wish it was possible to take away the time limit for completion of the combine or at least stretch it. They did do that and gave you 20 days to complete instead of 10, but for some reason they went back to 10.
 
Ok this topstep is looking legit now.:):

What is a Custom Combine Objective?
← Trading Combine

The Custom Combine Objective gives you the opportunity to set your own parameters for evaluation in the Combine, including your Profit Target. Custom Combine Objectives must be approved prior to entering the Combine and will be in place until the recruit requests to be evaluated under the standard Combine Rules.

To be evaluated by a Custom Combine Objective, please schedule a call with a member of our team to discuss your proposal
 
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