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

SouthbeachCTA said:
The best and most honorable and professional way is to show 1 year's worth of positive returns....verified thru an independent certified public accountant. You then show this to friends and family and say you are looking for seed money to start a trading business....and see who, if anyone, bites.

This is how I got started. My first year's returns(2007) were positive, trading FX and energy futures on an intra day basis. I got a CPA to verify my returns at the end of the year. Then showed my mother's childhood male friend(who is now a very successful cancer surgeon in the Wash DC area and is like an uncle to me). We talked about it for a few weeks over the phone, and at a birthday party he had at his house one weekend for one of his daughters(has has 9 children...half of them adopted), at the end of the party he handed me a check for $250k.......with many conditions!

Nobody is going to offer you start up capital if you can't show(with proof)that you're already making money trading with proper risk management parameters. To think otherwise is to live in a fantasy world.
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I don't believe this story for 1 minute
 
There's tons of private trading firms out there that operate similar to prop firms but require a successful resume rather than a deposit. I know Great Point Capital has up to $10MM for traders to manage. I know 2 traders there. They make anywhere from $50-100K on a good day.

It really depends on what you trade. There are a ton of Forex firms with this model. There are equity firms too, just not as big. However futures/options may be hard to come by.

I'd suggest having at least a 2 year record of earning more than the market average, and having significantly lower losing days than your winning days. Then head to Chicago. They have tons of trading firms spread throughout the city that don't mind hiring people who "started from the bottom." NYC or London are more college recruiters.
 
I've got a mate, who got funded by someone rich, must be going great cause I haven't heard from him since and when I sent message " how's the account going ? " no reply since LOL
 
pleckerchris said:
There's tons of private trading firms out there that operate similar to prop firms but require a successful resume rather than a deposit. I know Great Point Capital has up to $10MM for traders to manage. I know 2 traders there. They make anywhere from $50-100K on a good day.

It really depends on what you trade. There are a ton of Forex firms with this model. There are equity firms too, just not as big. However futures/options may be hard to come by.

I'd suggest having at least a 2 year record of earning more than the market average, and having significantly lower losing days than your winning days. Then head to Chicago. They have tons of trading firms spread throughout the city that don't mind hiring people who "started from the bottom." NYC or London are more college recruiters.
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Can you name some 'Forex firms with this model'? I have been trying to find such firms, but no success.
 
Family and friends are not a bad start, that's what I did. There are conditions though - you should have a very clear trading plan and should be confident that you can trade through the irregular market periods. For me it was a very close family member and I didn't even consider losing the money as that would've been an epic disaster - there was no "might get a job if this fails" plan as failure was not an option, as cliche as it sounds.
 
d08 said:
Family and friends are not a bad start, that's what I did. There are conditions though - you should have a very clear trading plan and should be confident that you can trade through the irregular market periods. For me it was a very close family member and I didn't even consider losing the money as that would've been an epic disaster - there was no "might get a job if this fails" plan as failure was not an option, as cliche as it sounds.
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It's tricky if not near impossible, I'd definately need a Plan B, trading is my Plan B and I haven't got a Plan C, so when Plan A goes down which has lasted 19years but soon I think, I'm screwed.

Also, no Plan B, STRESS or what, stress is something you just do not want while trading.
 
I think it's rather risky rather than tricky. It needs to be properly done though.
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Maverick74 said:
Six month track record? Where the fuck are you getting this drivel from? Name one firm anywhere in the world where you sat down for an interview? A real firm sits you in a room with scratch paper, TI calculator and a two hour exam testing your mathematical aptitude. Where are you getting this month bullshit from? You're officially an ET troll. Congrats.
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What you said is true I failed an exam interview with http://www.propex.net.au does that mean I should just forget/quit trading and do something else?
 
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