Menu
Sister Sites

Options

Bookmark Thread

First Page First Unread Last Page Last Post

Print Thread

Similar Threads

[REQ] Please share an EA which manages pending orders 0 replies

Who manages to withdraw 5 digits profit consistently? 23 replies

Who Manages Risk Anymore? 3 replies

which Forex broker manages money? 9 replies

Attachments: Who here manages other people's money?
Exit Attachments

Who here manages other people's money?

Quoting PrivateFX
I have attached a pdf file regarding this from the CFTC. Just simply scroll down to where it says "Managing Retail Forex Accounts" to read more about it.
Thanks. That helps a lot.
Quoting Busterd
My firm uses a CTA agreement which includes all the standard disclosure statements associated with trading forex in order to be compliant with the NFA when the time comes that regulation requires us to be so. We decided to use it from the beginning when we began trading for clients rather than have all our clients sign the disclosure documents later.
Sent you a PM.
Quoting JFX81
Correct me if I am wrong, but that would make it $2k x 24month = $48k guaranteed?
Yes that's correct..
Quoting Norman1
Yes that's correct..
Yeah, I think it would be very possible. 2% percent a month trading forex isn't that difficult, in fact it would probably be easier and more lucrative. 2% would probably translate to 20 pips a month if you're quite aggressive, or 40 or 80 pips a month if you really want to water down risk. Depends on your trading style though.

And, no. I don't manage other people's money. I'm still too green for that.
Quoting nhallmark
Thanks. That helps a lot.
no problem, anytime
Can someone tell me the advantage of paying people 2% per month when you can usually get a loan for much less than that?

thanks
Quoting peterM
Can someone tell me the advantage of paying people 2% per month when you can usually get a loan for much less than that?

thanks
I wouldn't have the ability to loan as much as I manage. Plus there would be a deposit or security required. I used my credit to put a roof over my head...
I started a Forex Managed Account Program in April of this year. I use FXCM as my broker and trade through a PAMM account. I have a website...if you are interested pm me and I’ll send you the link.

Here are my results since April:
April 3.22%
May -9.86%
June 5.51%
July 6.18%
August 21.2%

In the website you can find more specific information about the way I trade and a backtest of the last 4 years.

V/R, FXOne
Those of you managing others peoples money - how did you get started?

Thanks.

m
I mange a small group of Doctors money. I simply showed my record and methodologies of trading to my family Dr. and he told his friends and before long they formed an investment fund. Show your success to someone with money and they'll invest with you.

Quoting acumen
Those of you managing others peoples money - how did you get started?

Thanks.

m
Quoting acumen
Those of you managing others peoples money - how did you get started?

Thanks.

m
I agree with acapulco - if you show most people some success they are often willing to back you.

I started trading properly (rather than just picking markets at random) about two years ago. It was all I wanted to do and all I talked about. I guess I took myself pretty seriously. Everyone (friends, work colleagues - even family) knew I did it and spent all their time telling me that I would never be able to make a living from it, that it was gambling, that I was an awful trader because I lost more than I made.

But as soon as you start winning large amounts of money with some consistency, you find that all of a sudden all the people that laughed at you and told you that you would never make it, want to back you with their hard earned money.
Please note: I cannot respond to PM's but you can email me via my profile.
Quoting Norman1
I wouldn't have the ability to loan as much as I manage. Plus there would be a deposit or security required. I used my credit to put a roof over my head...
thanks for the reply.
HI,

Some of you PM me for my website but I was unable to reply because your need to change your personal settings to allow private messages.

V/R, FXOne
Quoting FXOne
I started a Forex Managed Account Program in April of this year. I use FXCM as my broker and trade through a PAMM account. I have a website...if you are interested pm me and I’ll send you the link.

Here are my results since April:
April 3.22%
May -9.86%
June 5.51%
July 6.18%
August 21.2%

In the website you can find more specific information about the way I trade and a backtest of the last 4 years.

V/R, FXOne
Quoting acumen
Those of you managing others peoples money - how did you get started?

Thanks.

m
The first step in managing other people’s money is to make sure that you have a very robust system including: money management, risk management, diversification and solid statistical results. Also make sure that you have forward tested and live traded the systems. This is very important and is the key of your success.... Live results speak louder than anything else. You also need to have contingency plans in place, for example, how do you now if one of your strategies stop working (because market change) or is simply going through a drawdown. I believe that a strong statistical background it’s necessary to successfully manage a Forex fund on the long run.

The second step is to find a broker and negotiate spread, rebates, service, etc. You’ll probably need to have a couple of client to start since most brokers require a minimum volume for managed accounts. Some brokers also require seeing your personal live results and series 3 exam. Compare between brokers as they have different requirements.
My story is a bit funny.

I was introduced to forex by the main person i trade for(a). He introduced me to someone who trading for 3 years(B). That person taught me and now i trade for (a).
100% of traders are losers. Just that some win more than they lose!
Thanks for the replies and suggestions.

Much appreciated.

m
Quoting the_wizard
I agree with acapulco - if you show most people some success they are often willing to back you.

I started trading properly (rather than just picking markets at random) about two years ago. It was all I wanted to do and all I talked about. I guess I took myself pretty seriously. Everyone (friends, work colleagues - even family) knew I did it and spent all their time telling me that I would never be able to make a living from it, that it was gambling, that I was an awful trader because I lost more than I made.

But as soon as you start winning large amounts of money with some consistency, you find that all of a sudden all the people that laughed at you and told you that you would never make it, want to back you with their hard earned money.
I know how you feel the_wizard. I had people tell me the same thing. One of the things that I noticed was that a lot of the remarks from people saying these things were coming from people who thought that 5-10% a year return is already considered high. Most have the mentality that anything over 5-10% a year is considered impossible or unrealistic. Banks love people like that because while they're paying out a measly 5% to people, they're obviously making more for themselves in other markets using their money. People like us here in the forums tend to have a different approach to the possibility of higher returns. Of course there is risk, but me personally, I don't feel comfortable leaving my money in a bank for an entire year just to collect 5%. After taxes and inflation, it doesn't do much. Just my thoughts..
Quoting Mr demark
My story is a bit funny.

I was introduced to forex by the main person i trade for(a). He introduced me to someone who trading for 3 years(B). That person taught me and now i trade for (a).
LOL
Quoting JFX81
You really think so? Let's see what that looks like with $100,000 USD.

Month
1: $102,000
2: $104,040
3: $106,120
4
5
6: $112,616
7
8
9
10
11
12: $126,824
24: $160,843

You see my point?
JFX81, sorry that I neglected to consider the possibility of compounding interest (and reading previous posts as your comment was answered) but at least in my part that interest is paid monthly from the original investment. So an investment of $100,000 like you mentioned will receive interest looking like this

1. $2000
2. $2000
3. $2000
4.
5.
6. $2000
7.
8.
an so on, see the way i think is doable?
And to receive at least 24% return in a year, i think it puts it right where most $managers are.
Quoting Mr demark
My story is a bit funny.

I was introduced to forex by the main person i trade for(a). He introduced me to someone who trading for 3 years(B). That person taught me and now i trade for (a).
How was that Groucho Marx quote?

"the contracting part of the first part shall be the contracting part of the second part..." or something like that. Does anyone remember?
0 traders viewing now