How to establish formal track record?

Quote from pinstrypes:

it might just be better to trade your own personal account and get it audited after the fact.
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huh??? how do you audit after the fact?

also, how does the person you are trying to convince not know you had 10 accounts, and just showed the best one?
 
Quote from TraderZones:

huh??? how do you audit after the fact?

also, how does the person you are trying to convince not know you had 10 accounts, and just showed the best one?
More...

Great point TZ, should I engage an accounting firm upfront?

My goal is to set up my entity/fund/account; trade my own capital for one year (Approx. $30k) then try to raise outside capital.

What steps should I take now (legal/accounting) to help with the process of raising money from outside investors down the road?

So I'm on a shoe string budget... should I have one of my lawyer friends edit & file an existing LLC agreement for me? This would be essentially free as opposed to the $4k-$5k Green would charge.

Launch date is January 2010. Why trade for one year? Because that's when I'm done with my MBA.

Thanks to all the members of ET, I have learned a great deal about the process from just reading the threads.
 
Quote from pinstrypes:

Great point TZ, should I engage an accounting firm upfront?

My goal is to set up my entity/fund/account; trade my own capital for one year (Approx. $30k) then try to raise outside capital.

What steps should I take now (legal/accounting) to help with the process of raising money from outside investors down the road?

So I'm on a shoe string budget... should I have one of my lawyer friends edit & file an existing LLC agreement for me? This would be essentially free as opposed to the $4k-$5k Green would charge.

Launch date is January 2010. Why trade for one year? Because that's when I'm done with my MBA.

Thanks to all the members of ET, I have learned a great deal about the process from just reading the threads.
More...

here are a few places you can establish a track record (depending on WHAT you trade):

Brokers (also offer systems trading - customers if your account with them does well)
Striker Securities (definitely)
Attain Capital (maybe?)
Robbins (World Cup)

Trading sites:
TimerTrac.com
Collective2.com
StrategyRunner.com
FuturesTruth (black box systems only)
Theta Research (pretty tiny outfit, I think)

I cannot tell you that any of these sites are going to make you a hedge fund manager, but at least they are known and have some legitimacy

And also? Make sure you thoroughly understand Sharpe/Sortino, Profit Factor, max drawdown/drawdown analysis, etc. Any trader worth their salt is going to grill you for your "statistics."
 
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