Greetings,
This might be a silly questions, but here goes. My need for money is fairly immediate. So while I’m learning how to trade, are there expert forex traders that do trading on behalf of other people. It’s almost like a mutual fund idea, but in my mind it would be much more profitable. For example, I wouldn’t bother if a trader only net me 10% per year.
However if a trader could net me 30-40% a month then that would be something.
So do such people exist?
Snakeoids.
What if they lose 30-40%?
Not sure…I guess it might be the same rule as mutual funds…they still get paid and we take the hit.
Snake…although there are a very very few people that could net that much per month… (and I do mean few…as in, less than 1% of all professional traders could do that…your looking for the tiger woods or michael jordan of trading), they would be limited in what account size they could do that in…say, it would have to be less than 100K i’d imagine, AND, they would charge you a tremendous fee for such a service. I think 50% of profits would be about what they would take, if they were ever willing to do so.
And I can’t imagine why a trader who could consistently make 30% - 40% per month would even consider working with you for this purpose, be it that they are probably worth a seven figure + net worth… it would be as a personal favor rather than as a service.
To put your request in perspective… I once had a very, very short conversation with a man that is arguably the greatest trader of our day, Paul Tudor Jones. He is on the forbes 400, and has made billions trading.
He told me his flagship fund was up approx. 23% for the first 5 months of that year…and this was…oh, about 2005.
Of course, you need 500K to invest with him. Other than a medical emergency, i can’t fathom how one could have that much, and still “need to make money very fast”.
Bottom line man, you are probably looking for the michael jordan of trading… that person does exist…but there is no way your gonnna find that guy and hire him for the amount of money you have. Jordan, Lebron James, Tiger Woods… these guys only work for very large sums of money.
Jay
P.S. Steve Cohen is another of the best traders…never spoke with him, but he has regularly made 80% - 200% returns for his clients per year… but he charges a 50% fee to do so. He is also a billionaire… Point here being, anyone that can make that much money is probably worth a fortune…and therefore would need a rather large sum of money to even consider trading for you. And nobody i have ever heard of makes 500% + per year, year in, year out consistently, while maintaining an ever increasing bankroll. nobody.
What are you bringing to the table in this deal? If it’s capital, how much are willing to put up?
some have tonnes of money but less skills while some are skillful but only have a penny.
this is why both of them come and work together to strike.
How is the term? can explain more details pls Snakeoids?
do the trader need to show you his live account reportcard ?
Consider this for a second before implying the ability for someone to trade and make money from your account.
What regulations are required to be followed before allowing someone to trade your account. And would this trade be in full proper disclosure, or would it be allowed behind closed doors?
Keep in mind the anti-money-laundering rules and regulations.
If you plan to be able to live off of this amount of profit every day, how much are taxes going to cost at the end of the year? Have you calculated that amount to be taken out versus every day costs?
Me personally to include any type of insurance costs and health care costs gas food (to include every type of inflation every year/month)
I’d say depending on if this was for one person, or a family you would need (just for safety precautions) to maintain a comfortable life style depending in what country, probably around $13,000.00 a month to maintain and keep the money you don’t need presently for the end of your life retirement bubble if you need any medical assistance that your present insurance doesn’t cover. (rough-estimate could cost more by that time-frame)
So rough guess if what you’d need to have to start out this type of investment type style if you didn’t start out with 13k a month… (divide let’s just say the end product, due to the cost of the other person, by 50 percent you’d need about 26k in profit a month.) Do a couple multiplication variables.
If you want someone to just be making x currency for you with x amount of lots… per day, week, per month, per quarter, per semi quarter, per half year, per year etc…
How much would they need to make, and would you restrict how many lots they could trade with altogether would you set a parameter what type of patterns would you allow them to trade with? Would you restrict how many trades they could make per day? Would you set a max take profit to protect your profits before it loses the current value? Would you set parameters for if it would take a big negative dip on your profit, or would you let it ride out and possibly wipe out your entire margin balance for the amount of lots you have accepted to be used? Would you require the person to set a key-pattern set-up identifier before they actually take the profit?
Would you accept a small amount of profit each day if the movements barely move?
How much time would you require to be traded on your account per day?
Full disclosure… I have not successfully end on end traded successfully due to being distracted, emotionally train-wrecked, greedy, needy, wanting, undisciplined, forgetful, impatient, unaccepting.
But I can say that by the end of the day when I accept small amount of profit per day after monitoring the movements I can make 1-4 pips per day(after the spread difference) back to back when I find myself on the bottom and learn to be patient, disciplined, and accepting.
I do not intend to rain on your parade. Albeit, sigh, 30-40% a month and consistently is uhm, just in my opinion of course, a nice ticket to a blown account after some months/years of hard trading work. Not more. Not less. So, may I ask for what it would be good for? At first growing it to a gazillion (maybe with a lot of luck) and then afterwards burn it all?
Or maybe I understood that wrong? Do you mean 30-40% net loss a month? That’s easy! Letz start now! I give you a warranty I will deliver that perfomance with hard work, lol. 
Plus then some said already there are some issues with having others to trade in your own account. Particular those, who can make a living themself from trading.
At least, really, frankly, I wouldn’t look at bp for a serious trader in the top notch class. I do not say there are no great traders here or that bp is not a nice place for learning. But, 30-40% a month, huh. Plus then it is something different to grow a 100 bucks account to 200 in a year or growing a 100k account to 200k a year. Regarding fills.
If I’d need money urgently, I’d go to a bank and ask for a credit, but definitely not put my money on the table and let some gamblers play with it, no matter how good their trading history looks. And while we are at trading history, I do not believe a trading history with spikes up and down in the 30-40% a month class would speak for a good trader.
google for pamm. some brokers provide this service. you will choose a trader who is willing to manage some kind of pool account. but even choosing a good profitable trader is not easy. again… learning about pamm and doing research about the trader itself is taking sometime
Key think people I believe fail to accept/comprehend consider is this. How many pips does it require to make that type of percentage a month? Does anyone know?
Does anyone believe it’s capable? apparently from what I have seen not so much capable.
I know without a question in my heart, that when my head/heart/mind is straight… and I have not a distraction in the world… I.E. no thoughts/worries about family, friends, personal, governmental, business, time, etc… It’s like I have the power to make 30 pips a day without question each day, and depending on the margin size I have available, that could be a substantial amount each day, so day after day week after week, month after month. It’s a consistecy table time-line that beats people up.
Its like when I played runescape before they made it all 3-D. I asked my friend, how do I become the best PK’er (Player killer) he said, to be maxing your strength, primarily and your attack, and max out your ranging abilities. With a strength potion, crossbows, max food health for your hitpoints to recover. you never lose sometimes even against two-three players against one, because your hp is 3 times their hp, and once you kill one player, the others crumble and run.
It’s psychological. But again. psychology is not always easy to attain or master because part of it is the mentality what to do when you actually succeed at what amount.
It’s the ****iness that destroys people’s ability to succeed at trading when initially successful.
Like the parable of the sower from the new testament about those who sowed their grains in rocky soil, fertile soil, and soil covered with weeds. I might have all the examples mixed up… but you get the point.
I tell you its possible, but you need the right mentality to accept the profits you make, and know when and how to get in and out with that pyschology.
I’ve taken 170 brought it up to 300 dollars within a couple weeks… (trading very very exotic, slow trading currencies learning patience and discipline.)
But you need to accept what you get. I feel like I’m rambling I will stop here.
Runescape huh… Let’s talk. 
But to be perfectly honest, don’t use RS to represent trading… They really have nothing in common, whatsoever. It just made me laugh.
Back on topic, 30-40% monthly, consistently is possible, but it’s not easy and someone with this kind of money, like most of the others had said, wouldn’t accept petty cash.
You can easily breakdown the ~30% monthly ROI into weekly goals. Which is rought 7.5% ROI weekly. Assuming you risked say 2% on each trade, with an average SL of 30 pips, you’re looking at around 112.5 pips consistently, every week. It may sound easy, but it’s not, it takes work.
I used runescape to simulate the psychology people have in saying you only succeed where you psychologically allow yourself to succeed from and know when to run away and when to attack. The market is the same thing psychologically speaking.
Just as a lvl 30 player would initially use adm(?) green thingy… for the attack level and increase the strength leveraging between accuracy and pure high hits. It’s the same concept when people trade.
I know funny right? But you realize it’s true. Just as when you’re in the wilderness and at level 20 you and your level 50 friends see a level 30 all decked out in the green body suit, automatically know you can survive his hits, and kill him if you’re pure in like two hits. When you see a double top, or a fibonacci number hit, you know the answer… it’s textbook answers for most situations. But its called patience, and watching for the best moment to strike. Because you do not want to attack a level 30 when a level 70 comes around the corner as you go to pick up your prize… you get the play on words I’m sure.
But again, it really depends on how much you can relax while trading.
Kinda like what’s your pain tolerance or patience tolerance? If you can accept to go in with a known move possibility do you wait for the unknown to happen, or do you go in, with a smaller margin than you want to cover the unknown movement scenarios of crazy moves.
I think you get what I’m saying I hope.
That’s how I look at trading, when my head’s in the zone/game…
So when I hear/see people talking about it’s not possible to make x amount per day if it’s between 50-200 pips I’d say it depends on how long you trade, and how you understand the method you use.
But as always volatility always plays a very important role, because if it volatility slows down, any pips you want to make will take hours to make after.
I.E. ranging with no real profit for only moving up and down 1-3 pips and the spread’s like 5 or 8. and even then if it was only a one pip move up or down… it can create a big momentum to go if you’re not paying attention to the bigger time-spans.
There are thousands of experts in the net that you can pay but they are busy selling books, strategies,robots and indicators.
They’re so good that they prefer to sell things and softwares instead of trading LOL
Akeame, Those thousands of experts are either scammers, jerks, for the most part. I.E. the Robots, indicators…
The books, strategies are a two fold concept. If you look hard enough at a rock with severe intensity after a while you could begin to think and have a clear head of understanding what you need to do even if you were told what to do wrong to begin with.
Or it could resort to you relying so heavily on the books and strategies that you get confused and never know what to do by yourself.
The best way to profit is to get a system… constantly check your system by system I mean method of analyzing, predicting, confirming etc… And share it with others in such a manner that you get into a debate with anyone and everyone over where the market is moving and why.
And after you have had enough debates in that manner, you then can proceed to what’s considered the acceptability method of how you know where it is going and why.
After all when your method’s been torn to pieces its like building new muscles in the brain… Unless you let someone tear your method apart and you do not understand where you were flawed. If anything you then create from his method, and tear his method apart until you get an equal even-minded method that both can learn and use.
Hence, the trader’s method of scalping, ranging, day-trading, and any other method I haven’t heard of yet.
Then once you have enough of those methods down, you can then begin to expand your knowledge to others.
It will just majorly suck, if you have mentality issues where you begin to learn something, and three months later you have problems remembering due to problems of accepting emotional problems of family, etc…, start up again forget everything trying to remember and then re-learn what you already know.
I.E. that’s me.
Waterscalming, that was a good read. Lmao…
20B bank, maxed out at level 138, actually just bought out all of Red H’Ween Masks today for fun… >.> Just sayin’. LOL
It’s what I do when I’m waiting for my setups.
I think what Akeame said was sarcasm… Lol
Clark I kinda figured that.
Side note: When I played runescape, I continued to play it until I was naive enough to let other players on my account (and my friend’s account :() but that was year years ago with 3 hit wonder rules. I was whatstrength, patrikhelpme, and davechar … If you ever ran across those fearsome foes now I created them back in the day.
When it comes to saying its possible or not possible it just irks me like a someone holding the leash of a dog who just saw cats they want to chase.
And the guy I am just wants everyone to know the gosh-darn truth about trading… And remember all the warning labels behind it because its true as well.
I just sincerely wished I had 20k to at least play with from a 200:1 margin leverage. I could do some serious damage with the right set-ups.
And now at best, when all my credit cards are paid off come novemberish? I would have around 19k of danger money and figuring within the next couple months get more constant income, creating an additional 2-3k of possible danger money?
If I was to focus that on serious trades and strive for a minimum amount of 20 pips per day, in 5 days (mon-Fri) I’d produce 1k, if I was only patient with it and wasn’t doing anything else but watching the market closely using the eur/usd, and other main primary currencies.
Then again if I attempted the 19k of danger money I’m certain my wife would leave me if my head’s not on straight and take the kid.
But then I see myself losing a grip and going stupid toward the end, or at the beginning unsure how to control my wants due to emotional concerns and worries either from work, family, or personal gain desires.
I notice many if’s and but’s in my statements and question marks.
Making the ability for making $200.00 a day safely for one week a higher possibility? Before I have to return the funds again. And start over once more?
I need someone to seriously smack me across the head before explaining each of my transactions with a concrete diagram before buying or selling. And know without hesitating to just sit on the freaking side-lines.
I apologize, I’m ranting bout personal stuff. But how many feel the same way honestly in similiar situations?
I wonder if the reason why my heart beats all fast, and I begin to feel all tense when I put the danger money in the market because I feel I am giving in to wants without listening to my immediate needs.
I don’t know… then again I’m talking about psychological aspects of financial risks being taken, because putting in more than I can easily accept to lose on hand for a known risk/reward plays with my mentality to comprehend.
I see the moves in the market, but my psyche just says not for you you’re not showing the patience we wanted, the discipline we wanted, the acceptance you wanted when you do make a good trade and when we give chances for recovering from a loss.
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