It's entirely relevant if you're considering trading OPM or going full-time.
Legal Question Regarding Trading Other People's Money
- Thread starter feng456
- Start date
It's entirely relevant if you're considering trading OPM or going full-time.
How short are you to the 20k. if you need like 10 k more, it shouldn't be a problem borrowing that kind of cash at 10% to 15%. ever heard of low interest credit cards, overdrafting your chequing account, line of credit, small personal loans, the list of small loans goes on. if all you need is the cash to trade at Bright just borrow from 5 or 10 of these places. i could prob borrow 15 grand from my banks and credit card companies before even attempting to ask for more funds and i'm in a similar situation as you. find out how much you can make on actual money borrowed, all your left with is the spread of what ROR your earning and the cost of borrowed capital. Remember that if you trade at Bright and go 10x leverage your return or actual cash ie the 20k is multiplied. so say you can make 15% at bright on 200k thats 30k profit or 150% ROI, and the cost of borrowed money might only be 15%. thus making a spread of 135%. of course if your not day trading, forget about trading overnight positions at bright, at least using lots of leverage. if your really confident, just borrow the cash, if you blow up, worst case scenario is you owe less than 20k, you can work that off easily in half a year at any job.
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.
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.
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.
Most profitable strategies exist in the public domain. It's their refinement, application and execution that make the difference between black and red. Most fund managers can't beat the S&P. Post live calls without charts or time frame reference. You've got nothing to lose.......
not only are they in public domain. most people trading profitable strategies will.... lose. they'll try to be smarter than strategies. they'll apply the most crazy position sizing, like doubling size after few winners, or trading with superhigh leverage.
most fund managers will turn away from profitable strats - they'll say: "oh, its not managed on a $1M+ account, so it must be weak" or they will want to start with 1 contract and after initial profits increase size to 3 or 4 contracts just when a DD starts
managing OPM? it makes sense only if your strat shows 15 winning months in a row and then busts in 1 week. or if you run a ponzi scheme- guaranteed success with OPM!