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Seeking Immediate Investor

  • #61
  • Aug 18, 2010 1:36pm Aug 18, 2010 1:36pm
Quoting mabenn
No a partnership agreement. I agree about the CTA thing. In that case I would be trading through a limited POA.
So you want someone to wire a huge amount of money to your personal bank account. That does not really improve your chances of finding an investor.

I don't know about Canada but where I live it would be illegal to take other peoples money for investing if you are not regulated by your countries financial authority. A partnership agreement would not mean a thing. Are you sure that is legal?
  • #62
  • Aug 18, 2010 1:37pm Aug 18, 2010 1:37pm
Quoting cloggie
We found Jacko.
  • #63
  • Aug 18, 2010 1:38pm Aug 18, 2010 1:38pm
Quoting Astroman
Cut your expenses.
Thanks for the tip.

They are already at the lowest possible to maintain the edge that i have. The Data/analytical software is the best and must be that way in order to have an edge over traders using free or low cost software. Futures are different than Forex. It's not a free ride with software. The reason forex brokers provide free software is because they make minimum $10 per side when you transact with them. if I told my broker to charge me $10 per side he would be happy to pay for my expenses....
FX Specialist
  • #64
  • Aug 18, 2010 1:40pm Aug 18, 2010 1:40pm
Quoting TJPLD
So you want someone to wire a huge amount of money to your personal bank account. That does not really improve your chances of finding an investor.

I don't know about Canada but where I live it would be illegal to take other peoples money for investing if you are not regulated by your countries financial authority. A partnership agreement would not mean a thing. Are you sure that is legal?
haha, there's no way I would accept money into my personal bank account. Unless it was the lottery

No, we would set up the partnership, send the partnership docs to the broker, they set up the account, the investor wires funds from his account to the brokers account. I've done a partnership like this in the past, its perfectly legal. Especially since I am sharing the risk. (in Canada anyways).
FX Specialist
  • #65
  • Aug 18, 2010 1:46pm Aug 18, 2010 1:46pm
Quoting Scotty2Cues
Did jacko offer a risk guarantee with 50% of loss sharing? likely not, I have not seen that before. It would be written into the partnership agreement and notarized etc. In other words I would make sure it was fail proof for my investor.

I'm not a wacko, like Jacko.

Just a serious trader looking for a serious investor.

seriously though positive and negative criticisms are fine because some of these comments have made me think about things I hadn't considered.
FX Specialist
  • #66
  • Aug 18, 2010 1:48pm Aug 18, 2010 1:48pm
Quoting mabenn
Current Expenses are as follows and are approximate based on FX exchange rates:

Based on 100k Account Size

 

  1. Internet High Speed $96.00
  2. Analytical Software and Data $625.00
  3. Daily Coaching $350.00
  4. Wireless Aircard/Internet Backup $45.00
  5. Ninja Trader $60.00
  6. Total per Month: $1,176.00
  7. Total Per Year: $14,112.00
  8. % Account Per Month: 1.18%
  9. % Account Per Year: 14.11%

Split risk and profit 50/50, that means that if 50% of the funds are lost, I would reimburse investor 25k...

Since you are apparently willing to risk equity in (your?) home to the tune of $25k, why not take out that line now and begin trading it live? You seem confident that you can make 1% per day - personally I do not find that hard to believe on a small account - so that gets you $250/day to live on and to slowly grow your stake. Get rid of the high-priced "mentoring" and data/software - if you can trade you do not need these. Get yourself a part-time job, something low-stress that will cover most of your frugal expenses. If you do not know what frugality is, get a clue: millionaires who manage to continue being millionaires long-term know what frugality is.

Now, seriously, nobody in their right mind is going to give you any money to trade based on your demo trading account results, and if they do, you've got yourself a retarded investor, and that's not what you want. You need to establish a track record of live trading results - at least a year of positive equity accumulation - before you can even consider seeking investor funding. In the meantime if you want you can set up a managed account with some "angel" type investors' funds - small amounts only - these will be people who know you and are willing to give you money with no expectations - rich uncles, friendly scoutmasters maybe - but after you have turned out 200+% returns in less than a year these will be your glowing references.

While you are patiently trading and building that real, steadily up-trending equity curve you will need to do your due diligence on what the various regulatory requirements are for trading investor funds. The regulations in the USA are currently being re-jiggered and will be promulgated by the CFTC this Fall. Effect on Canada's regs and your particular situation: unknown. But it will be worth waiting & seeing how all that shakes out over the next year.

And, seriously, the fact that you would post something like this on a public forum calls into question your basic intelligence, perhaps even your sanity. Are you eating well? Exercising regularly? Getting regular sleep and a happy sex life are very important for the young man. Not on the crack are you? Well, you get the idea - take care of yourself - money's not everything.

But when you have some real results based on a real account then money will find you. Good luck.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #67
  • Aug 18, 2010 1:48pm Aug 18, 2010 1:48pm
Quoting mabenn
Did jacko offer a risk guarantee with 50% of loss sharing? likely not,

He went one better, he guaranteed a return of 30% so he has one up on you.
  • #68
  • Aug 18, 2010 1:53pm Aug 18, 2010 1:53pm
Quoting cloggie
He went one better, he guaranteed a return of 30% so he has one up on you.
Nobody can guarantee a gain...

just to be clear, i'm guaranteeing a sharing of losses. Trading will halt at 50% loss, which means I am guaranteeing 25k.
FX Specialist
  • #69
  • Aug 18, 2010 1:56pm Aug 18, 2010 1:56pm
Quoting The Fool
Since you are apparently willing to risk equity in (your?) home to the tune of $25k, why not take out that line now and begin trading it live? You seem confident that you can make 1% per day - personally I do not find that hard to believe on a small account - so that gets you $250/day to live on and to slowly grow your stake. Get rid of the high-priced "mentoring" and data/software - if you can trade you do not need these. Get yourself a part-time job, something low-stress that will cover most of your frugal expenses. If you do not know what frugality...
Here I thought you would post something "fool"ish

Thanks for the feedback, this is actually good advice and took some thought so I appreciate that.
FX Specialist
  • #70
  • Aug 18, 2010 1:57pm Aug 18, 2010 1:57pm
Quoting mabenn
Nobody can guarantee a gain...

just to be clear, i'm guaranteeing a sharing of losses. Trading will halt at 50% loss, which means I am guaranteeing 25k.

You are not getting the point buddy, your whole scam still beggars belief. All of us just see this as entertainment, because that is what it is and ever will be.

You lost your last investors 20% and they bailed as fast as they could as they clearly saw the writing on the wall and now you are here on a public forum no less looking for your next muppets.
  • #71
  • Aug 18, 2010 2:00pm Aug 18, 2010 2:00pm
Quoting mabenn
Did jacko offer a risk guarantee with 50% of loss sharing? likely not, I have not seen that before. It would be written into the partnership agreement and notarized etc. In other words I would make sure it was fail proof for my investor.

I'm not a wacko, like Jacko.

Just a serious trader looking for a serious investor.

seriously though positive and negative criticisms are fine because some of these comments have made me think about things I hadn't considered.
sorry, i wasnt laughing at you or your post, it was just the response.
A respectable trader at another trading site (trade2win) suggests opening a live (even small) account and show a DD of no more than 10% and profitable after a year.

On same site there is someone (working for a big hf, dont know if genuine) looking to invest in traders. Says he only needs proof of 6-12month profits i think. www.trade2win.com
Some guy posted earlier this month looking for trader with 50% profit and no more than 15% DD.
GL
  • #72
  • Aug 18, 2010 2:02pm Aug 18, 2010 2:02pm
At least you're being honest and upfront - but the fact that by your own admission you still need mentoring suggest you are not ready for live trading, at least not with somebody else's money.

The psychological part of trading is the hardest bit to conquer and it seems you haven't even experienced that part yet.

I would suggest that you start with 5K, and please don't start live trading with any more than that - it will at least give you a live trading record .

I know you say you need 50K, but you're not going to get it.
I've got my pips - go get yours!
  • #73
  • Aug 18, 2010 2:03pm Aug 18, 2010 2:03pm
Quoting BackTestDummy

I know you say you need 50K, but you're not going to get it.

Oh you never know, Jacko managed to get 4 mill from here without ever showing a single statement, and nobody even knew who the guy really was or where he lived.

Plenty of !d!ots born every day.
  • #74
  • Aug 18, 2010 2:05pm Aug 18, 2010 2:05pm
Quoting cloggie
You are not getting the point buddy, your whole scam still beggars belief. All of us just see this as entertainment, because that is what it is and ever will be.

You lost your last investors 20% and they bailed as fast as they could as they clearly saw the writing on the wall and now you are here on a public forum no less looking for your next muppets.
Holy dude, read previous posts before commenting. We went through a 20% drawdown, but I made it back (which means I had to make closer to 25%)

they all bailed at different times right around the stock market meltdown back in may/june.
FX Specialist
  • #75
  • Aug 18, 2010 2:07pm Aug 18, 2010 2:07pm
Quoting Scotty2Cues
sorry, i wasnt laughing at you or your post, it was just the response.
A respectable trader at another trading site (trade2win) suggests opening a live (even small) account and show a DD of no more than 10% and profitable after a year.

On same site there is someone (working for a big hf, dont know if genuine) looking to invest in traders. Says he only needs proof of 6-12month profits i think. www.trade2win.com
Some guy posted earlier this month looking for trader with 50% profit and no more than 15% DD.
GL...

Thanks alot, I would probably laugh at this post too!

I'll take a look, thanks for the links.
FX Specialist
  • #76
  • Aug 18, 2010 2:11pm Aug 18, 2010 2:11pm
Quoting BackTestDummy
At least you're being honest and upfront - but the fact that by your own admission you still need mentoring suggest you are not ready for live trading, at least not with somebody else's money.

The psychological part of trading is the hardest bit to conquer and it seems you haven't even experienced that part yet.

I would suggest that you start with 5K, and please don't start live trading with any more than that - it will at least give you a live trading record .

I know you say you need 50K, but you're not going to get it.

I believe strongly in working with a coach. Replace mentor with coach and it will probably make more sense. The best traders i know all have coaches and so do the best athletes etc... Why should traders expect any different?

The Psychological part is my favorite and the object of most of my focus and my life. I work very hard at maintaining a peak performance level in all areas. The only reason I have been able to become a confident trader is because of how I have worked on myself. I work every day on this type of stuff with my coach. There's no shortcuts to it.
FX Specialist
  • #77
  • Aug 18, 2010 2:14pm Aug 18, 2010 2:14pm
Quoting cloggie
Oh you never know, Jacko managed to get 4 mill from here without ever showing a single statement, and nobody even knew who the guy really was or where he lived.

Plenty of !d!ots born every day.
Yep, and all you need is just one.
  • #78
  • Aug 18, 2010 2:15pm Aug 18, 2010 2:15pm
Quoting cloggie
Oh you never know, Jacko managed to get 4 mill from here without ever showing a single statement, and nobody even knew who the guy really was or where he lived.

Plenty of !d!ots born every day.

That's ridiculous about Jacko.

I'm not looking for an idiot, in fact an already successful trader would be best to work with, someone that understands trading so they will understand the edge that I have without having to prove it to them. Thats why I posted on a trading forum.

I've spent years just working on and refining my trading plan. It used to be 80 pages long, now it's just 11 pages.

I would be willing to fly to a serious investor and sit down with them.
FX Specialist
  • #79
  • Aug 18, 2010 2:16pm Aug 18, 2010 2:16pm
http://www.trade2win.com/boards/trad...investors.html

Trader_Dante's posts are respectable
  • #80
  • Aug 18, 2010 2:17pm Aug 18, 2010 2:17pm
Quoting Scotty2Cues
http://www.trade2win.com/boards/trad...investors.html

Trader_Dante's posts are respectable
thx I'll take a look
FX Specialist
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