I believe there are several of them, and you can set your own subscription fee, I think, some charge $50, some charge $200, depending on how popular and how profitable the strategy; if you charge $100 and get 50 people signed up, that is $5000 a month (probably deduct the management fee). Search some other forum and there should be helpful info there.
Making full time trading viable
- Thread starter Truth Searcher
- Start date
I believe there are several of them, and you can set your own subscription fee, I think, some charge $50, some charge $200, depending on how popular and how profitable the strategy; if you charge $100 and get 50 people signed up, that is $5000 a month (probably deduct the management fee). Search some other forum and there should be helpful info there.
Many thanks- I will certainly check this out.
If more people use your signals , it is going to be good for you, because they are going to push the price up (if long) in your favorite direction, and they are following your signals after you post your signals so you are already in the trade. I am not sure if there is any regulation on how to post your trades in term of time.
Let's look at your situation:
Reading the thread we see you have a system that has only been back tested, if even that, that generates just $80 using 2 ES contracts that requires manual trading at a minimum of 7 hours a day. You also have a family to support.
You need enough capital to trade 10 contracts/day so that would be at least $100K to meet margin requirements with some buffer for losses, which could be higher as you never mention your draw down.
So you would need someone to not only back you up with at least $100K, but also an additional salary to pay for your family expenses during your start up unless again, your draw down is minimal.
RISK:
Primary risk is system has no performance record- and no news is bad news.
Next, I assume you have no automatic stops in place as you stated your trades can't be automated. At 10 contracts leverage, all it will take is a "surprise" market lurch against you to cause a big financial loss and greatly reduce your earning potential going forward. That's a HUGE risk for just a small net daily gain of just $80/contract. No automation means YOU are the potential point of failure and you MUST watch the screens 7 hours/day. That is a lot of time to slip up by getting distracted.
Ask yourself:
Would YOU be willing to stake someone with $100K+ on an untested system with no track record, that at best, provides just an $80/contract return that requires the trader to manually operate 7 hours a day?
The Elite Board seems to have quite a few "paradox" posters that have these "wonderful" systems that bank money, but not enough money to put it into action and therefore need "financial backing". And typically it's just based on some back testing where the person can't even be bothered to present at least 6 months of R/T performance data of actual trading even if just manually paper trading on sim.
Trading is one of the easiest to scale businesses there is, so if your system works, there's no reason why you can start with a minimum and scale it up over time as your profits accumulate.
There are too many legit investment opportunities for anyone to even think about backing an unknown person with an unknown system with no measured performance, and capped with such a low rate of return to add insult to injury.
I would not do this myself, but the following is technically an option if you need capital for trading.
Take out a personal loan for $30k and set aside two months of living expenses and put the rest in your trading account. That should easily be enough with the $30k you already have to be trading 10 contracts (intra-day) and have some draw down cushion. Now this is the important part...in the event that your account get's down to $30k, shut down the operation, pay off the loan and consider it an expensive learning experience.
You said you day trade, so I am not sure what you mean by "don't have a short term focus"
Here's a nice site.
https://funded-trader.com/my-trading-plan/
If you have rules you can follow it can be automated. You might not understand your method well enough to do so, or you may not have the programming skills required, but if it is rules based then it can be automated. If it is not rules based, keep your day job.
gimme stats and i will either fund you or shoot it down no shit. < if it's automated i see some comments it may not be that's a no go.
i can tell you now to trade 1000 contracts at a time it better have some good money management.
sorry no short cut.
You have to do like what I did years ago.
Have full time job. During evening time, do nothing but trading.
Then sleep about 4 hours a day.
do that for every single weekdays for many many many months.
During weekends, don't go and play.
Go and do demo trading and
Sleep about 5 hours on weekends
Once you are ready, quit your full time job.
You have to do like what I did years ago.
Have full time job. During evening time, do nothing but trading.
Then sleep about 4 hours a day.
do that for every single weekdays for many many many months.
During weekends, don't go and play.
Go and do demo trading and
Sleep about 5 hours on weekends
Once you are ready, quit your full time job.
What are you using for slippage values? Have you traded real time based on 2 lots? What is drawdowns based on 2 lot and based on 20 lots of correct back testing?
I have automation on Brit Pd, slippage in real time for stops sometimes are unnerving when there literally nothing on the Dome and doing a 20 lot. Sim trading often is false, just like backtesting can not be fully dependable, back testing gives one an idea of success. Plus if using time bars, it can't be a bar with open/high/low/close, has to be a bar with 60 seconds of each trade inside of it so you know whether your exit was triggered first or last.
If you have job outside of the time to trade, that will be your only option. Forget the subscription, people start of having slippage on regular basis won't stay long at all. You can try like Topstep or Gauntlet for having them fund you, but what you asking of the forum just don't see anyone funding you without 3 years of statements. And if they do fund you, you can expect they want 80% of the profits as this is highly risky since you unwilling to fund it yourself.
Good luck