Who here manages other people's money? | Forex Factory

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Who here manages other people's money?

  • #1
  • First Post: Aug 30, 2007 10:13pm Aug 30, 2007 10:13pm
Curious to find out who all on this board manages accounts. I know of a couple but there have got to be more.
  • #2
  • Aug 31, 2007 7:53am Aug 31, 2007 7:53am
I do...My total capital is probably chicken feed compared to other traders around here, but yes I do trade for investors..
  • #3
  • Aug 31, 2007 8:41pm Aug 31, 2007 8:41pm
Same here as well.


Thanks,

Nader
  • #4
  • Aug 31, 2007 11:51pm Aug 31, 2007 11:51pm
I do, but they both trade occasionally as well, they just trust me more! Imagine that

It's a single pitch-in account though, curious to know what the others here bigger than myself are using in terms of tech..
Virtue finds and chooses the mean. Aristotle, Ethica Nichomachea
  • #5
  • Sep 1, 2007 5:16pm Sep 1, 2007 5:16pm
A few quick questions for those who do...

1. What broker are you using
2. Are you doing a LAMM or PAMM
3. Have you taken your series 3
4. Are you also an IB for a broker with the potential to get a rebate from the spread on other accounts
5. Do you have a website (if so, what is it)

  • #6
  • Sep 1, 2007 6:36pm Sep 1, 2007 6:36pm
Quoting JFX81
A few quick questions for those who do...

1. What broker are you using
2. Are you doing a LAMM or PAMM
3. Have you taken your series 3
4. Are you also an IB for a broker with the potential to get a rebate from the spread on other accounts
5. Do you have a website (if so, what is it)

1. MIG
2. ??? ???
3. ??? !!!
4. No, they don't even know.
5. No, I'm very shy you see

PS: what about yourself?
Virtue finds and chooses the mean. Aristotle, Ethica Nichomachea
  • #7
  • Sep 1, 2007 7:27pm Sep 1, 2007 7:27pm
LAMM: Lot Allocation Management Module
PAMMercentage Allocation Management Module

anyone signed a power of attorney to manage accounts must know this


what you really need JFX81??
  • #8
  • Sep 1, 2007 11:03pm Sep 1, 2007 11:03pm
Quoting benssol
what you really need JFX81??
Nothing, I just think its interesting to hear what people on this forum are doing and this topic is intriguing since there are not any major barriers to entry when managing money in spot fx.
  • #9
  • Sep 1, 2007 11:35pm Sep 1, 2007 11:35pm
I manage accounts as well....i use oanda and use their managed accounts system to ensure safety for the funds of my client...i have signed a POA with my clients and i do it well for them and they r very happy....i use percentage allocation system...
  • #10
  • Sep 2, 2007 11:59am Sep 2, 2007 11:59am
Quoting ns_karthik77
I manage accounts as well....i use oanda and use their managed accounts system to ensure safety for the funds of my client...
I do not understand the whole "safety of funds" part of your post. What does using the managed accounts system have to do with safety of funds? Please clarify if you have a second.
  • #11
  • Sep 2, 2007 1:22pm Sep 2, 2007 1:22pm
Quoting JFX81
I do not understand the whole "safety of funds" part of your post. What does using the managed accounts system have to do with safety of funds? Please clarify if you have a second.
If you had a Refco account, and did not live in Canada, you lost your money when they went bust. Some brokers now have insured or segregated account systems which protect their clients money in the event of an unfortunate happenstance (such as discovering your broker's operations are under-written by a hedge-fund with a significant exposure to CDOs).

For a complete understanding visit the Oanda website - you might even open an account

( I do not have a live/real account with Oanda )
Minesweeper target: 284
  • #12
  • Sep 2, 2007 1:36pm Sep 2, 2007 1:36pm
Quoting Primate
If you had a Refco account, and did not live in Canada, you lost your money when they went bust. Some brokers now have insured or segregated account systems which protect their clients money in the event of an unfortunate happenstance (such as discovering your broker's operations are under-written by a hedge-fund with a significant exposure to CDOs).

For a complete understanding visit the Oanda website - you might even open an account

( I do not have a live/real account with Oanda )
I am very familiar with the terminology. For instance, Refco claimed accounts were indeed segregated and made promises of fund safety... but we know how that turned out!

I am just trying to find out precisely what the poster meant because it sounds like he is implying that all managed accounts are somehow guaranteed safety of funds.

It has been my impression that the only accounts that are truly "safe" are those that are opened under countries with better consumer protection laws (aka Canada or opening an FXCM account through their UK division).
  • #13
  • Sep 2, 2007 1:45pm Sep 2, 2007 1:45pm
Quoting JFX81
I am very familiar with the terminology. For instance, Refco claimed accounts were indeed segregated and made promises of fund safety... but we know how that turned out!

<snip>
You are right of course, except that Canadian domiciled customers of Refco did get an amount of their money back. I do not know what due diligence you could perform to ensure that such claims were of substance. If anyone would care to throw light on that issue I would appreciate it.

Meantime I am following a strategy (partly by accident) that I read from someone else in FF. I have accounts with different brokers on the 'not all eggs in one basket' theme. It does make trading a little tricky at times....

Thanks for the tip on the UK office of FXCM.
Minesweeper target: 284
  • #14
  • Sep 2, 2007 1:49pm Sep 2, 2007 1:49pm
Quoting Primate
You are right of course, except that Canadian domiciled customers of Refco did get an amount of their money back. I do not know what due diligence you could perform to ensure that such claims were of substance. If anyone would care to throw light on that issue I would appreciate it.
Actually, Canadian customers got nearly ALL of their funds back. Why? Because Canada's consumer protection laws are much stronger than they are in the U.S.
  • #15
  • Sep 2, 2007 1:50pm Sep 2, 2007 1:50pm
Quoting JFX81
Refco claimed accounts were indeed segregated and made promises of fund safety... but we know how that turned out!
Holy crap, did they really state that the funds were segregated and they werent?

Nasty!
  • #16
  • Sep 2, 2007 1:59pm Sep 2, 2007 1:59pm
Quoting WTB
Holy crap, did they really state that the funds were segregated and they werent?

Nasty!
Even though the Refco customers in the U.S. didn't get anything from the bankrupcy proceedings there have been SEVERAL major lawsuits alledging many instances of fraud.
  • #17
  • Sep 2, 2007 7:13pm Sep 2, 2007 7:13pm
This is a very interesting conversation you guys. I don't know what swiss consumer protection is like but I used to think that the broker liquidity statements (don't have the link right now) were a good measure of safety. Now Primate jumps in with this hedge-fund thing..I thought the money was in a non-venture bank account(s). Any idea on how to check, and are any of you using swiss brokers?

Also, if you're managing other people's money the chances are you are experienced enough to be handing some trading advice over at the 1K forum when it opens.
Virtue finds and chooses the mean. Aristotle, Ethica Nichomachea
  • #18
  • Sep 2, 2007 8:23pm Sep 2, 2007 8:23pm
  •  Carlos
  • | Joined Sep 2005 | Status: Commitment, planning and discipline | 65 Posts
I have traded for a firm in the past and am now looking to move back into a firm in the future but as a proprietary trader, i.e i trade the firms money and not clients money.

Cheers Charlie
  • #19
  • Sep 3, 2007 1:37am Sep 3, 2007 1:37am
Quoting JFX81
A few quick questions for those who do...

1. What broker are you using
2. Are you doing a LAMM or PAMM
3. Have you taken your series 3
4. Are you also an IB for a broker with the potential to get a rebate from the spread on other accounts
5. Do you have a website (if so, what is it)

1. MB Trading
2. I have a specific % risk per trade I use. Strict money and risk management
3. No, but I had a series7/63 many years ago. Expired now though :
4. I don't need rebates because I can make money just from the performance fee alone. This also gives clients a peace of mind knowing that I have vested interest in them. If I make money, so do they, and vice versa. No need for rebates at all.
5. Yes, but I don't know if it's considered spam to post it here so if anyone is interested to know, they can easily pm me for it.

  • #20
  • Sep 3, 2007 4:40am Sep 3, 2007 4:40am
I trade using automated systems.
I use API, expert advisors, QIP and DDF

I only take accounts of minimum 500,000.00 USD
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