At 3% per day it’ll only take you 32 trading days to increase your original 40K to 100K. Problem solved
Even at a measly 2% its only going to take a couple of months
£1.2k a day. without compounding 50 trading days i.e at least 3 months to cover the £60k outstanding. assuming no withdraws and zero variance on the the daily return.
.
hello everyone, i hope you enjoy flaming
if you need to withdraw money from this fund to live, what money are you living on now?
you quote the figure “2-3% per day”, but I think you’re implying this was just in theory and was not LIVE trading results. and even if they were, a few months track record is absolutely meaningless in this market, sorry to say.
in short, I think your confidence is a few steps ahead of your skills and I think your family is in the right with their cautious stance.
thanks for your response.
receive 2-3% on the live not on paper.
i work atm as well.
Hello guy. A few things:
Let’s play spot the inconsistencies:
my name is emmanuel and i’m an actuary.
i’ve worked in FX with Barcap and Prime Brokerage with G.S.
Seeing as you’ve worked in FX and Prime Brokerage with Goldman Sachs, my immediate thought is to ask why you found it fitting to seek the advice of traders on a forum, when you have worked at a department devoted to Forex?
i’ve been developing a strategy which yields 3% effective a day, every day.
I’m greedy!
I’ve decided to stick with the tactic rather than more profitable riskier ones, but i’m working with £50k and growth is painfully slow.
No actuarial scientist would ever consider 3% effective growth, every day slow. You would indubitably be beating all hedge funds in the world, and wouldn’t even have time to be around on forums seeking advice.
I think they would more happy with what they consider a safe invesment in property and it would be impossible to change their mind even though one is a lawyer and the other a doctor and i’m a newly trained Actuary:20:
A [B]newly trained[/B] [U]actuarial[/U] scientist working in the [B][U]forex[/U][/B] departments of [U]top[/U] institutions? I didn’t know they entrusted their financial securities to actuaries wet behind the ears.
i want to raise an additional £100,000 for my account. and am not sure of the best way to go about it.
i could probably raise £40k from the trust without causing too much trouble
if you have any clever ideas on how i can go about raising the rest or all of the required amount. i’m listening.
and am willing to pay if it is succesful.
Up above, I thought you said you were ‘painfully growing’ a $50K live account at 3% effective per day? Seeing as you can raise 40K from the trust without too much trouble, that would put you at a whopping 90K. From there, even if you didn’t compound, it would only take a month to add the remaining 60K you need to add up to the rest of the 100K you desired.
The fact that you are working as well is a further boost which means you won’t have to withdraw from your account, since actuarial scientists are on of the highest paid employees in the world. You don’t need to withdraw when you can get by on your salary. Also, the fact that you claim to have been doing this for a few months means all you need to do is do it for one month more. What’s one month in the scheme of getting rich enough to bailout the PIIGS nations, as one member suggested?
Furthermore, after the [B]glaringly obvious[/B] has been presented to you, it is clear that you don’t want to trade your own money, and want further ideas on how to raise money. The title of the thread, and your reluctance to do just that, conveniently imply that you are waiting for someone to spring up the ingenious idea that they’ll be willing to fund you! Wait, what’s that? You’re even willing to pay them too!?
After all these inconsistencies Mr.Actuary, I’d think you have a hard case to present to anyone, as to why they should fund you! Additionally, if you can prove your 2-3% daily, then some lucky person who stumbled on this post would have their chance to invest in what seems to be the next potential number one fund in the world! As an actuary, you can probably figure out the odds of that happening.
But I digress…let’s just say…it’s hard to envision you being a real actuary. 
How about a bank loan, or your credit card. At 2-3% a day even uncompounded paying it back isnt going to be a problem is it ?
hello everyone how are you doing
Thanks for the idea, i don’t think i’ll be able to get a 100k bank loan.
LOL I’m a fool for pointing out glaringly obvious inconsistencies in your postings?
This is a newbie forum, and that same anonymity you pointed out allows anyone to be anyone. Not only do I not know if you are Emmanuel Uwechue, but frankly [U]I don’t even care.[/U] The point of my post was to hopefully prevent newbies who think everything that glitters is gold from a potentially painful lesson.
That being said, I have no more time to waste with this thread.
Good luck, and maybe who knows you will that advice you need even when the answer is under your nose.
[QUOTE=xXTrizzleXx;253171]LOL I’m a fool for pointing out glaringly obvious inconsistencies in your postings?
This is a newbie forum, and that same anonymity you pointed out allows anyone to be anyone. Not only do I not know if you are Emmanuel Uwechue, but frankly [U]I don’t even care.[/U] The point of my post was to hopefully prevent newbies who think everything that glitters is gold from a potentially painful lesson.
That being said, I have no more time to waste with this thread.
Good luck, and maybe who knows you will that advice you need even when the answer is under your nose. :)[/QUOTE
Reply:
Ok, thank you for your contribution, it has been noted. You are right to leave this thread in shame. It was not supposed to be a notice board for the stupid remarks of ignorant men.
Although it is noble that you want to protect ‘newbies’ from whatever you say they need protection from, i think it is perfectly reasonable to first verify your assertions before publicly embarrassing yourself.
think then speak. not the other way around.
In future if you have anything you think is worthwhile to say, keep it your self as far as i’m concerned.
I wasnt really suggesting lending the whole 100K. I was suggesting taking a smaller loan, say 10K and trading that capital seperately but compounding for maximum growth. You could be really brave, split the loan into 10 small stakes, diversify and trade at optimal F. If the strategy fails you have a couple of years to pay off a small loan, if it works you have your 100K. Alternatively you could keep risk at your current levels, but some element of compounding surely has to help.
Are you aiming on putting together a larger account to enable you to trade full time ? or will you remain in employment ?
With the right pitch you might get investors. You could try selling trade calls through collective2, zulu trade, curencee leaders program etc. I know people who’ve done OK doing that. There’s a few prop shops / arcades in the UK that would probably back you if you had reasonable starting capital to bring to the table and a track record (although I doubt if any would allow you to trade forex).
Geez,
I’m sorry I didn’t see this thread earlier. Turns out I’ve just responded to exactly the same question (the thread starter’s question) on another thread.
But this is WAY more interesting.
Anybody here reckon that Goldman Sachs makes anywhere between 2% and 3% PER DAY??? LOL!!!
Manni, my ‘pal’: if you were capable of making 2% to 3% PER DAY EVERY DAY (as you claim on this AND the other thread and who knows where else on this site i.e. fortunately for you the ‘Find All Posts’ search function is not working as it should at the moment) then Goldman Sachs would terminate the employment of every single other trader that they employ AND sell off those millions of dollars worth of algo’s that they use, GIVE you at LEAST half of the equity in the company, and all you’d have to do in return is sit and trade for them all day.
But, and as noted to you on your other thread, which I’ve now unfortunately dignified with a reply, post your results (and see your other thread for details of what I mean by ‘post your results’)!!!
Regards,
Dale.
Dale please take the time to read through my earlier response on this thread.
thank you.
yeah i want to go full time. thanks for the advice that’s really useful, i’ll look into it.
As simbafx suggested, even a credit card would help, if you really feel that you would not get a loan. The repayments would be in the hundreds, surely well within your means if your profile etc is as you say? If you can withdraw 40k from the trust, then you could hold back 10k of that to cover repayments on the finance. You should be able to get a loan, but if you cannot then they give plastic credit to pretty much anyone, these days. Again, initial repayments could be covered by a chunk of the 40k.
To be honest with you, though, even those of us who might be in a position to offer more considered advice that could address your issue will likely not be minded to when you can dismiss people as a fool under so little provocation.
So my principal advice would be to take a more considered tone, even with those with whom you disagree, if you expect people to put much effort into helping you.
We are collectively missing something, I think, as from what you have said, raising the extra funds you require just is not difficult.
you’re right maybe i should have not snapped like that.
but i don’t like people calling me a liar and haranguing me for no reason.
Well, two wrongs and all that…
And your original post on the other thread made it sound as though you were earning a firm 15% a week (before compounding or whichever term you prefer), while at the same time asking for advice on how to raise money - you can’t expect to say that without a people wishing to scrutinize. Even if it was just poor drafting, it is inevitable that it led to questions and some scepticism.
A calmer, more considered request for information would have been well-received, the members here are great at that.
A slightly self-satisfied posting using a little sloppy drafting, then calling an established member a fool was never likely to yield the result you were after.
ah sloppy yes, i was a bit angry.
why self satisfied - which post in particular. I guess people often solicit funds here.
i’m sure the guys on this forum are outstanding and i have had some good advice already.
Hello again.
Not to be argumentative here again (and the same applies from me to the other thread you’ve got going Manni) BUT there’s something that’s confusing me here (maybe we’re all just not ‘getting the picture’ which IS possible i.e. it’s been known to happen before). LOL!!!
What EXACTLY is it that you are trying / needing to do???
Let me put it this way:
Forget about compounding and all the other mathematical ‘fluff’.
Let’s assume that you have a £50 000 account which is what you’ve stated you do have (and by the way NOTE eveybody else i.e. I finally got around to getting the ASCII code for the pound sign i.e. no more ‘GBP’ in my posts although that’s easier to type and remember). Let’s also say that you ONLY trade ONCE PER WEEK (and you’ve said that you do trade more than once per week already). By my calculations: if you withdrew your profit, which, at 3%, would be £1 500, at the end of every week (and remember we’re assuming that you trade only once per week and make your 3%), then that equates to £6 000 per month or £72 000 per annum in profits (alright that’s before tax of course). From what you’re saying that’s the MINIMUM that you’d make. Now I don’t know but either you have one HELL of a high standard of living OR (I think you did mention this but if not then I apologise) you’re just ‘greedy’. Put another way (although they say that you cannot and should not REALLY do this i.e. convert from the currency of another country to put it in terms of your own currency) but at the current GBP/ZAR rate: that’s a MINIMUM of R720 000 per annum (again before tax which, on that amount, you can be sure would be around 40%). Long story (calculation) short: after tax that’s a MINIMUM profit (‘salary’) of R36 000 CLEAR per month. Believe me: in this country (South Africa) anyway that’s ‘not too shabby’. OK: it’s not ‘living like a king’ but it’s sure a decent home, two cars in the garage, and more than enough to eat out ‘ever other night’ (and I’m not talking about MacDonald’s either)!!! LOL!!! And once again: as I understand it we’re talking about MINIMUMS here.
So yeh: just trying to understand i.e. not trying to be ‘full of it’.
Regards,
Dale.