Now listen carefully what I am going to tell you. Imagine making $500 a week. OP's 500 dollars extra would double your return so the real question is, why wouldn't you go for it???
Because not every profitable trader is making 20K per week.
Capt. Obvious
Not quite my good Captain. You will not "double" your money as you explained it. You would only double your money if he was putting up a much greater share of capital than you are. There is also a time and hassle and proprietary cost factor. He wants a profit split, he wants you to contact him on a daily basis and explain the reasoning behind every trade you made, and it is probably a reasonable assumption anything proprietary you are doing in terms of your trading system.
IMHO, it would be better to try and get in with a Chicago futures prop firm from a strictly business standpoint ( and depending upon your trading system design and proof of concept ). A good Chicago firm won't really care if you have been very modestly capitalized proving yourself out as long as you are consistent and the trade is scalable and portable. Being computerized to some extent or even automated would also help your cause.
His words were:
"Every night, I would like to know how/why you took the trade, what you looked for, why you entered/exited. Plus, I get to see if you really can trade as you claim. This way, I am not putting up 100k here or 50k there and signing POA's or any of that. If you are profitable, then I will consider funding an account and doing a % split of the profits with you. Depending on how you trade, the type of person you are, if we get along, if you adhere to what I asked of you, that will all play into whether or not we can work together."