Legal Question Regarding Trading Other People's Money

Quote from feng456:

well first off, i have no idea to go long or short. i go with my system and thats the only thing i know so anything else is pure gambling.

i have considered loans, however, it would put additional pressure on me which would likely have detrimental effects on my trading performance. trade with money you can lose right?

if someone here was interested and was serious i have account statements to back up my talk.
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"trade with money you can lose right?"

I think this might not be the attitude your investors are looking for.

Also .. you mention positive returns but no taxes paid.

And not having 20K..

Maybe I'm missing something, but should an investor not be afraid?

Doesn't exactly sell it.
 
Quote from feng456:

Well the fact is right now I have living expenses that eat up most or all of my profits. So please. Tell me HOW i can get to the place you are promising. Show me the promise land!
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Go work at a trading firm, then you get a salary and learn faster, plus you can scale quicker if you become any good.
 
Quote from feng456:

Don't do it because if i lose....?
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Well, you can get the broken leg syndrome from your investors for one....

But humor us, what would be your offer (fees, target potential) for a would be investor?
 
For starts it depends what state you are in; moreover many states require license etc...

That's the first hurddle. I'm currently using IB Friends/family acct to manage and its working fine
 
"Before borrowing money from a friend, decide which you need most."
~American Proverb

"Don't lend money to a friend, you will lose both."
~English Proverb
 
Quote from feng456:


i have considered loans, however, it would put additional pressure on me which would likely have detrimental effects on my trading performance.
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The pressure you may feel from trading a loan is nothing compared to the pressure you will get from trading other people's money.
 
Quote from lindq:

The pressure you may feel from trading a loan is nothing compared to the pressure you will get from trading other people's money.
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An important consideration is most people are not comfortable with loosing money even if they say otherwise. Their idea of a trading account is it's like a saving account. (Unless some money is withdrawn) it only goes up.

If you accept investments you have to also accept the investors giving you a lot of headache at the first sign of decline.
 
Quote from feng456:

how is this relevant or answer my original question about prop firms?
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The question regarding your general strategy and approach to trading is perfectly relevant, because it's the first question you'll be asked by any investor.

And in your case it is especially relevant.

Why?

Because you have been trading only the long side for the past two years, during a significant uptrend. An investor buying and holding blue chip dividend stocks would have outperformed you, considering expenses and trading costs.

So the question from any investor...and for yourself...is what do you bring to the party?

And over the life of your trading career thus far, the answer is nothing.

But you are young and have learned some valuable lessons, so keep at it. But don't expect to excite anyone with your record thus far.

Good luck.
 
Quote from achilles28:

If you're serious, start a journal in the journals forum. Post live calls with stops and tp levels. If you're profitable, investors will contact you. It's as simple as that.
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HAHAHA ...... good one!
 
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