My goal is to make at least 30% per month

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Pekelo said:
Let's see the business side of backing for a moment, because there is a Catch 22 there. Let's assume you make 20% month after month, and you have a deal with your backer for a 50-50 split. And you also compound the gains.

The problem with any excellent trader making huge returns being backed is that after a while the trader will break free because he doesn't need more backing anymore. So you are making 10-10% compounded monthly for you and your backer. Guess what? After 7 months, you have the same amount as you were backed with at the beginning!! At that point there is no point in staying with the backer because you could just keep going at it alone and compound 20% for yourself alone, instead of getting taxed 50% (beside the income taxes later on) by your backer. This is an inherent problem of backing high return guys, not just yours...

So does your backer realize that you are going to leave him after 6-7 months?* Also, why not do it like a real man and sign up for credit cards and use that money? CCs don't take 50% per month out of your super duper system....

*If he is reading ET, I am sorry...
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We have a written contract. Details I can't disclose. We hope that by this we both will be successful, ie. a win-win situation. We are not strangers to each other. We know each other for more than 10 yrs, in the past we had worked together.
From a certain point on, the money one owns doesn't play any role anymore. It's then about setting up some companies and realizing some ideas, much like Elon Musk etc...
I think in the end it will be like this: we have our own investment company with 50:50 shares for both, and besides this each can have his own other activities and companies or whatever...
We can any time step up, down, or pause the activities of our partnership. Of course both would need to agree for such a step. That's at least our vision.
It's not only about money, it's also about sharing experiences, sharing the work, and of course also being on the same "wave", etc.
And: in the past we both have lost some money to the market (as hobby traders then), that of course we will get back ASAP! :)
My partner's english is not that good, he uses online translator or asks someone else.
 
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AbbotAle said:
Just out of interest, and in regards the broker IB.

If Mars can do as he says, would IB pick up on his excellent trading skills and then copy them?

Or is a broker not allowed to piggyback his clients? I'm not saying they would front run his orders (but I'm sure some brokers do) but perhaps tag on with his orders.

IB is probably one of the most legit brokers out there but then this is the financial markets we're talking about and they're known for their crookiness.
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Sorry, I don't know about IB, but I know some other brokers do sell realtime all transaction data of their own clients to other firms (to Citadel etc)...
 
Current status:

cur_stat_Fr1.png
 
Ok, week and month are over... I'll shortly post the result...

The expired positions:
exp_Jul29.png

FYI: the expired positions get processed at about 21:40 US ET on Friday (last week it was similar).
(the above time of 03:40 etc. is my local time-zone in Euroland, that is +6h to US ET).
BTW: the US should get rid of the 12h AM/PM sh*t! :-)

acc_jul_end_my.png

NAV_ts.png
 
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Also worth of mentioning:
Of course one doesn't pay any commission when letting the options expire... That of course saves much on commission...
 
Okey, let's talk some serious points here:

1) As with all scientific conclusions, you need to post your proof of experiment as evidence of the claim. If it can withstand scientific scrutiny then you will get due credit. (Of course, post it on a respectable publication, not here on ET).

2) If you were to make 30%, compounded, monthly. Then starting with a tiny 10k, you will generate 232,900 after 1 year. If you continue this for *one* more year, you will generate 5.4M. After the third year, you're at 126M. So this begs the question: Why bother trying to sell it? You'll make so much in 3 years that it will far exceed any amount that someone will pay for it, let alone you would be unlikely to need more than that (and if you do, let it roll for another year and retire a billionaire).

3) Now, seriously: If you have come across some super special method that no one has discovered yet, and for reasons unknown you can not execute it yourself, and wish to distribute/sell it: Fine. But be careful! Because if it is legitimate, a Russian/Whatever mobster will buy it, verify it works, then shoot you in the head to make sure you don't tell anyone else.
 
HappyTrader said:
Okey, let's talk some serious points here:

1) As with all scientific conclusions, you need to post your proof of experiment as evidence of the claim. If it can withstand scientific scrutiny then you will get due credit. (Of course, post it on a respectable publication, not here on ET).

2) If you were to make 30%, compounded, monthly. Then starting with a tiny 10k, you will generate 232,900 after 1 year. If you continue this for *one* more year, you will generate 5.4M. After the third year, you're at 126M. So this begs the question: Why bother trying to sell it? You'll make so much in 3 years that it will far exceed any amount that someone will pay for it, let alone you would be unlikely to need more than that (and if you do, let it roll for another year and retire a billionaire).

3) Now, seriously: If you have come across some super special method that no one has discovered yet, and for reasons unknown you can not execute it yourself, and wish to distribute/sell it: Fine. But be careful! Because if it is legitimate, a Russian/Whatever mobster will buy it, verify it works, then shoot you in the head to make sure you don't tell anyone else.
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Sorry, I don't understand your posting, because I never said I'll sell my method or system. No, I'm not interested at all in selling anything.
And: it is currently still a discretionary method, ie. a manual method. An options scanner I wrote just gives some tips/hints, but the final decision and the trades have to be done by myself manually... I'm working on automating all these steps but it takes time to develop and to throughly test it...
 
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Request for comments:

I think if one can do like a MM then there should be much more profit per month possible than say 30%.
If anybody interessted in this, maybe we could work together for coding this in C++ using the IB API.
 
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