Personal question if you don’t mind. Why manage other people’s money at all if you’re able to make very good returns? That’s an issue I am thinking about lately.
I cannot speak for @The_Baller obviously. But I personally can think of a good reason. You know my current situation. Wouldn’t be so bad if I was managing a big account and taking 50% (I’d even settle for 10% at this stage) of the profits made over a period of time. And I guess in the long run: a person could do this until they’re eventually at the stage where they do indeed have a sizeable account and don’t really have to bother with anybody else’s drama and money.
I’m being offered funding lately left and right. But I don’t think I could perform as well with so much larger capital. So it’s something I’m thinking about and would like to hear insights from other people. I tried trading (local stocks) with other people’s money and it was so much harder than trading my own money
Of course trading your own money and trading someone else’s money are completely different. One of the factors being you are now accountable to that person and it may make you trade differently.
When its your own account you’re more relaxed, even though you’re accountable to yourself, it doesn’t feel that way.
Trading a much larger account comes with the assumption you should be making much larger returns - that’s where things start to go wrong.
Ah. That makes sense. Here I am restraining myself from adding profits to capital because of the risk to me. Might have to calibrate my mind though were I to trade other people’s money as it would come most likely to friends and family, more comfortable to lose my own money than from other people.
As selfish as it sounds, its the risk.
- Do I want to risk my life savings in my account? No. Some, but not all of it.
- Do I have access to high net worth individuals with liquid cash? Yes.
- Can I convince them to take the risk and split profits 50/50? Yes.
That’s about it.
Yeh well. If you dudes have any surplus high net worth individuals be sure to give them my details.
I’m not in the +500% per day club as you all well know. But you all know what I’m doing and how I do it i.e. my ar*e hanging well out in the air and exposed on my thread!!! LOL!!! But risk is low, drawdown is low (nowadays), but then so are the gains of course. It’s all relative I suppose. Guessing my trading methodology and style probably suit your conservative type. Still. Way better than a bank though let’s face it.
You’d be surprised, there are many people out there that just want very slow and steady growth - but like you said its better than what the bank gives.
Ah. I think now I understand this experiment of yours.
Not sure I 100% agree with this statement. I do marvel at some that balk at 2% - 5% per month. I think the highest you’d get here is 12.5% per annum at a bank and as far as I know that’s pretty high (but of course we pay serious interest too). So even a paltry 2% per month here is still good. Talking from an investment or savings point of view obviously. But of course one has to weigh up or quantify the risks involved.
Anyways. Whatever. As of this morning my life got t-boned by the equivalent of a fully laden freight train at 200km/h. So bottom line really is that on a minute-by-minute basis it’s sure starting to look like this is no longer a means to tide me over for a few months but rather the only thing that I can turn to in order to survive. Caught between trading and a gun to the head. How do you like that one. Talk about living on the edge. Anyways. Suppose I’d better get to it i.e. try building up a business here. Truth be told it wasn’t that far removed from my longer terms plans for the future anyway given that what I’ve been doing for the last few years is no longer an option. Just didn’t expect it to become an immediate requisite in life.
I meant if you’re making big gains on a diddly squat account - its no benefit to anyone. Unless you’re using it to build a track record and then go on and trade a decent size account.
What’s the deal with your trading? Do you have just one strategy that you stick with or you’ve got multiple things in the bag?
You must be able to mix it up to start getting the cash flowing in surely.
Only one strategy. Day in and day out. Been trading it off and on for the last five years or so. But on a part time basis. Now and then will take trades based on two other trading systems but those trades are very sparse and few and far between.
Not sure about how to go about the second part. Only thing I can do is plod along, keep posting minute details for as long as I’m able to hold on, and maybe somebody gives me a shot. I’m at least confident in what I can (and cannot) do now. And is seems as though the ESMA (all hail to them) has been instrumental in exorcising my last (last known anyway) demon (over trading). So yeh. They say everything happens for a reason. Never really been one to buy into that sh*t. But who knows. Certainly not I. If anybody had told me six months ago that I’d end up in my current situation I’d have laughed at them and told them to get on their bike. So evidently I don’t have all the answers.
You made a lot for a 38 pips, what a size.
Still way to go for me. Congrats by the way.
@The_Baller, @dpaterso, I have been watching this thread with interest since the OP, thinking OK, maybe we have a trader that knows what they are doing… a self confirmed (many times) professional trader that is making thousands of dollars per month and more recently has become a wanna be Fund Manager trading other people’s money… and believe it or not, wants to hang out in a beginners forum… Spending more time and space telling us about the trappings of success than show us all his strategy, his techniques, helping us all to become the demigod traders that we all aspire to be.
The more posts I read the more I realised that this is pure unadulterated BS… and has suckered you all in… hook, line and sinker… Now I know I am going to be flamed grilled by the good folk of BabyPips, but continue reading and I’ll paint a compelling picture of the rubbish that is being peddled here on a daily basis.
First of all our Superstar trader only gives you the bare minimum in information from his Ctrader platform. Not enough to really tell a true story of his trading prowess… for all we know that 38 pip 15k trade could have been opened 15 mins prior to it’s close… and I won’t even go into the 11 pip 4k win… which at a monumental 404 pound per pip position is little more than a scalp? Of course our OP states over and over that he doesn’t scalp…
He plays the long game right? (See Below)
Now see the information that I displayed when running the 25% in a month thread… You got the lot, Open, Close, Commission, Lot Sizes, Gross, Net and an accruing total balance to show a true indication of where the account stood. The total balance figure will also confirm that you are not flicking from one account (Demo) to the next to get the preferred screenshots…(See Below)
Now we come to the really interesting part (See Below) the margin to cover the 15k position is over 10k… even on a 1:400 account where even a 10 pip reversal will result in 4k of DD. This is outside the realm of any risk aversion strategies that I am aware of…
So sit back and have a think about what you are seeing in this thread, fact or fiction… We’ve all seen these big hitters come and go over the years.
Conclusion… There is no envy, no sour grapes in this post, all I’m requesting is transparency in your outlandish claims…So… I’m asking you @The_Baller, to in future display the same complete information that you Boys et Girls are attempting to ridicule in this thread, and lets just see if the thread can continue with it’s illusions of grandeur and excess and or it can be proven to be the real deal…
Now… let the games begin…
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time to get the popcorn out
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Yip. Oh don’t worry. I’m on my way. Just busy tying up some other loose ends (threads).
if you can stop by the shops and get some caramel popcorn that would be even better
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Would you like a Coke with that or some beer??? Milkshake???
ohhhhh, beer please!
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Sorry. I’m running late. Got a possible potential situation on my hands that I need to monitor for a while.
Find something to amuse yourselves with in the meantime.
And matter of fact: be nice to get some input and help around here.