Legal Question Regarding Trading Other People's Money

[feng456]

Quote from Maverick74:

As a guy that runs a regional office for a prop firm, I want you to listen to what I say very carefully. There is not a prop firm in this country that cares about your strategy, they just want your commissions. Prop firm owners are the most cynical people you will ever meet in your entire life and most believe that if you are making money, you are just getting lucky. These guys bet on sure things. That's commission dollars.

Ok when can I start working for you boss.

 

[Maverick74]

Quote from feng456:

Ok when can I start working for you boss.

Talk to Don Bright.

 

[pattern39]

Quote from Maverick74:

Look man, you are short a straddle. If you make money for them, sooner or later they'll accuse you of skimming. If you lose money for them, you're a fraud. If you breakeven, they'll accuse you of being lazy.

You can't win dude.

Go to a prop firm! You'll get 10 times as much capital and the prop firm is prepared that you might lose their capital.

Larry Williams was sued for taking his client's 10K to 500K. The reason? He should have netted $2M for this client instead...

 

[feng456]

Quote from pattern39:

Larry Williams was sued for taking his client's 10K to 500K. The reason? He should have netted $2M for this client instead...

wow i never knew...i am quite naiive in this area

 

[JSim]

I agree, don't mess with other peoples money. Money issues are one of the top issues tearing families and friends apart.

You can trade on a margin. This is a way to borrow a percentage of capitol you already have. The major downfall is that you will be charge interest on the amount you are borrowing up to 8%.

If you think your that good though it shouldn't be a problem.

 

[feng456]

apparently u need 20k to work for don bright...i dont have 20k

 

[15rms]

Feng you are still focused on money. If you had the skills and talent you would have the money. Get a different outlook. Accept the challenge aquire the skills and the money will come.

 

[feng456]

Quote from 15rms:

Feng you are still focused on money. If you had the skills and talent you would have the money. Get a different outlook. Accept the challenge aquire the skills and the money will come.

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!

 

[startraitor]

I find it hard to believe that someone who has not yet achieved sustained financial success in life will achieve it trading.

 

[feng456]

I dont have money because I'm 23 and I've been living on my own since I was 18. I also never had a "real" job that pays "real" money. So financially speaking, I am ahead of most people my age. Really I'm not sure why you feel the need to try to put me down when I come here asking for help from people.