Hey guys,
I've just been bouncing a few ideas around in my head regarding putting together a small team of traders. Myself and probably two others. Hopefully I've posted this thread in the correct area. I don't think it should be classified as 'commercial' as I am not selling anything.
I did have the same idea a few months ago and put it out on oDesk and received a huge response. There were several problems with that, which included people stating they had Forex knowledge, but when it came to the crunch, they only knew the basics. Then the trading method was a little complicated for some due to the language barrier, and if they did understand, they wanted to tweak it, as in their eyes, they thought they could improve it. Then I had issues with people stating they were available at all times, then turn around and give me their schedules which they expected me to work around, after clearly stating that I needed them for a set roster. So it all became a bit too hard and frustrating.
The above idea revolved working off 1hr charts where you had to be able to make trading decisions at the top of every hour for the entire week. It is a workable system but it is very tiring for one person, hence my idea of a team. The system is simple to me but I can understand how others may find it a little daunting.
So that brings me to my new idea. I have lengthened out the time frame to the 4hr charts, and now use a completely mechanical system for entries that involve a couple of customized MT4 indicators. The rules are pretty simple and there is still a little fine tuning to do, but overall it is a fairly profitable system.
Now I was wondering if anyone else here has had any experience in either putting a trading team together or been part of one. If so, what advice could you offer me. I realize there would possibly be issues with different time zones, language, internet connectivity and various other issues. But I do have a pretty good idea of what I want to do, and I am pretty keen to proceed. The long term plan would be to build a track record on a live account on something like MyFXbook and hopefully attract other investors, where a profit share system would be in place. This is just a rough idea for now, and in the meantime, I would be more than happy to grow our own accounts.
Looking forward to any comments from my feloow traders here, whether good or bad. If you do want further info, feel free to private message me. Cheers.
I've just been bouncing a few ideas around in my head regarding putting together a small team of traders. Myself and probably two others. Hopefully I've posted this thread in the correct area. I don't think it should be classified as 'commercial' as I am not selling anything.
I did have the same idea a few months ago and put it out on oDesk and received a huge response. There were several problems with that, which included people stating they had Forex knowledge, but when it came to the crunch, they only knew the basics. Then the trading method was a little complicated for some due to the language barrier, and if they did understand, they wanted to tweak it, as in their eyes, they thought they could improve it. Then I had issues with people stating they were available at all times, then turn around and give me their schedules which they expected me to work around, after clearly stating that I needed them for a set roster. So it all became a bit too hard and frustrating.
The above idea revolved working off 1hr charts where you had to be able to make trading decisions at the top of every hour for the entire week. It is a workable system but it is very tiring for one person, hence my idea of a team. The system is simple to me but I can understand how others may find it a little daunting.
So that brings me to my new idea. I have lengthened out the time frame to the 4hr charts, and now use a completely mechanical system for entries that involve a couple of customized MT4 indicators. The rules are pretty simple and there is still a little fine tuning to do, but overall it is a fairly profitable system.
Now I was wondering if anyone else here has had any experience in either putting a trading team together or been part of one. If so, what advice could you offer me. I realize there would possibly be issues with different time zones, language, internet connectivity and various other issues. But I do have a pretty good idea of what I want to do, and I am pretty keen to proceed. The long term plan would be to build a track record on a live account on something like MyFXbook and hopefully attract other investors, where a profit share system would be in place. This is just a rough idea for now, and in the meantime, I would be more than happy to grow our own accounts.
Looking forward to any comments from my feloow traders here, whether good or bad. If you do want further info, feel free to private message me. Cheers.
JAGfx