I trade only futures only - but know my potential to generate significant trading income (millions yes millions) is limited by the continous withdrawals from my account to meet living expenses. Its a double whammy on the account equity when I end up with a losing month. My wife works a regular job but her monthly salary cannot meet living expenses. Mortgaging my house to boost account equity is not an option nor is borrowing from my bank. Don't ask why.
My dilemna is-
Continue trading my own account and not answer to anyone except the wife and bills or set up a private hedge fund with a close mate who does not know anything about trading but is well capitalised and willing to take the heat and profit from my futures market operations?
My motive for setting up the fund with him is that he is willing and able to inject substantial risk equity which would overnight make more options available that would otherwise take years to reach on my own hook (Increase in trading size & degree of market diversification).
His motive is that he has seen only the success part of my trading and wants to partake but he has not seen the pain and sleepless nights I endured and still do sometimes.
I'm uncertain about his attitude towards losses though he says no risk no profit, but in reality most mean gain no pain. Its difficult to teach a non-trader the meaning of losses and why they are necessary and how to handle them. But his money would make all difference and comes with 0% interest and no payback periods or amounts.
Any thoughts, will this destroy our good friendship? Any one with similar experiences?
My dilemna is-
Continue trading my own account and not answer to anyone except the wife and bills or set up a private hedge fund with a close mate who does not know anything about trading but is well capitalised and willing to take the heat and profit from my futures market operations?
My motive for setting up the fund with him is that he is willing and able to inject substantial risk equity which would overnight make more options available that would otherwise take years to reach on my own hook (Increase in trading size & degree of market diversification).
His motive is that he has seen only the success part of my trading and wants to partake but he has not seen the pain and sleepless nights I endured and still do sometimes.
I'm uncertain about his attitude towards losses though he says no risk no profit, but in reality most mean gain no pain. Its difficult to teach a non-trader the meaning of losses and why they are necessary and how to handle them. But his money would make all difference and comes with 0% interest and no payback periods or amounts.
Any thoughts, will this destroy our good friendship? Any one with similar experiences?
