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Thread: Would I have any takers?

  1. #1
    I have, although I don't want to start some fistycuffs here. I just came up with it sitting at stupid hours of this morning for reasons I am not even going to warrant...:
    Mods please only slap my wrist and I'll get rid of this if it causes any pains, don't ban me or something, I love FF!!

    I'll make it a hypothetical first, perhaps that will save a bit of aggravasion.

    Let us say I've 10K to burn. And rather than go to the bookies, casino or buy my wife something amazing, I said this:

    I am searching for 4 traders. I'll provide you 2.5K each to exchange as aggressively as you like up to 10K. When it hits 10K, we start taking 50 percent of net profits generated per week by this 10K each, and the rules vary. (don't worry, it will still be fun)

    From 10K:
    Rule1: No more than 5 percent risk on any trade.
    Rule2: No more than 20% complete risk on last weeks final equity balance.
    Rule3: No more than 15 percent drawdown on last weeks final equity balance.

    I will expect rigorous and extremely acurate record keeping, and if you have time, then a journal/diary for notes on reasons for taking trades.
    I'll probably wish to do some DD on ya too:

    Now, I understand what your MM-spidey senses are tingling, I don't wanna get into a debate about what sh*tty MM that's, but hey, I stated I'd 10K to burn didn't I.
    *cough* tax-write-off *cough*
    Nope, just kidding, don't repeat this, that's not correct!

    Any volunteers?
    All my risk, 50% profit share?
    Anybody?

  2. #2
    Quote Originally Posted by ;
    This actually sounds interesting.
    What about the preconditions again? 6 Quarters of profits and all that?

    And why in the world not go together with Oanda, IBFX is one of the worst feeds and spreads I've ever seen. Also MT4 trading is VASTLY inferior to the ease and speed of Oanda(been around Oanda for over 6 months and have used MT4 every day for two years).

    Oanda signup may be done completely via email and you might also go the FXManager route via limited power of attorney to the 1 Quarter FXManager for example. Providing the log-in works fine of course.

    Simply saying - I really wonder when I'd bother if I had to endure MT4
    (I am demoing indices and commodities to a MT4 plus it is a frickin' P A I N.)
    :
    Oh and something I've asked myself since post 1: Where's the excess profit from(How / where etc;p)?
    WellI don't really use'em . Simply going by what the majority requested. I believed I'd be adapting:.
    Maybe I should have a vote?
    I just don't want to be chopping and changing brokers annually.
    I utilized oanda a while before, and yep they are pretty cool.
    I'm also thinking it will prevent the bloody EA fixation people seem to have. That will deffo be one of my rules. MANUAL trading only!
    (Need to sleep on it I suppose)

    As for the conditions, I'm reconsidering a few of them, like the 6-quarters thing. Personally, this would still be my choice, but seems restrictive to the possibility out there. Plus, who dares wins that they say.

    I really don't understand. I love input similar to this though, cheers!
    As to our last question

    extra profit, please, I just threw that in for the people wanting to call me looney!
    I trade my own account. I had a great'06, also very good'07. I'm in a position where I will stick 10K somewhere, even if it's in the toilet, and not really feel that the hit. I've made some charitable contributions, helped relatives, etc.. Subsequently...
    I had a variety of ideas, and that one stuck with me.
    Nothing else untowards, I didn't rob a liqour store or anything like that. Only been robbing banks for a short time.

    It's somewhat evolved from where it started, together with all the 4-way split etc., but this I believe will be fun. I would have stuck it in a managed account or something.
    In a bizarre way, I kind of want to give back something to someone, dunone no who, dunno how, just have that impulse.
    Ever get that?

    I don't want to just contribute to forums with my trading plans/methods etc.. I wanted something for myself if nothing else.
    So far as contributing trading plans, systems, analysis etc.. I could not match the likes of what is already available on FF, therefore that I have, and will refrain.
    I will probably trade along and maintain a journal here though along with my present one. See if I will match the batters blow for blow.

  3. #3
    Quote Originally Posted by ;
    Would you wish to have a go at bat? Is that what it's about? :
    Submit your plan. I have an extremely positive expectation I will indeed like it.
    You can also bat if you prefer!
    No thanks but that I was not indiing dishonest goals or anything like this. However, with $2500 to exchange how much profit is that going to generate and please the 25%/day p/f crowd need not reply. Risk/reward is the whole foundation for those markets to exist. Thats all.

    Back in you.

  4. #4
    Quote Originally Posted by ;
    No thanks but I wasn't suggesting dishonest intentions or anything like this. However, with $2500 to exchange much profit is that going to generate and also please the day p/f crowd need not reply. Risk/reward is the basis for the markets to exist. Thats all.

    Back at you.
    I've changed it to $5000 a few posts back today.
    5K, 1 account, 1 trader at a time, 1 quarter.
    50/50 split for the quarter.

    Certain you don't want possess a quarters innings?


    PS: I am NOT looking for the 25% p/day audience. Only a solid plan, and a few favorable returns. I didn't get to the point of having the ability to do any other way.

  5. #5
    Interesting point someone increased. finally, I have been waiting for this one<img data-emoji=”stuck_out_tongue_winking_eye” width=”18” height=”18” class=”emoji” src=”https://cdn-resources.forum.net/images/emojis/64/1f61c.png?v=1.0.0.1” />:

    I will tackle it outside in the open.
    NO, I am not also likely to be making trades in the same account.

    And as an add-on to that;
    NO, I am not planning to manipulate your rankings.
    NO, I am not planning mess with anything.

  6. #6
    Anyone that's a trader wouldn,t be bothered with this kind of offer.
    Why would not they simply keep doing it by themselves.

  7. #7
    K.
    Here is the last word on this for a while. Until launch day that is.

    I need to finalise a few things over the weekend, but I wanted a last concenus of what folks would trade on in this situation.

    I DO NOT wish to begin a broker discussion here! There are enough about.
    Here are the options for this particular experiment. Choose your weapons traders.
    (My private thoughts follow broker choice)

    1. MT4 - IBFX
    (Keen. Many traders use MT4. Good review from a trusted source)
    (Account open and ready to be financed )

    2. FXCM
    (Not keen. Negative preceding personal experience)

    3. GFT
    (Not bad, not that excited. Negative preceding personal experience)

    4. EFX
    (Keen. Favorable personal experience)
    (Account open and ready to be financed )

    5. Oanda
    (Quite keen. Favorable personal experience. Highly rated by many readers/posters/traders)
    (Account open only needs activation and ready to be financed )

    That's it and that is all.

    I've not started a poll for many reasons. If you don't need other people to understand you're putting yourself 17, you can pm me.
    Monday will probably be Decision Day. Day terms finalisation.
    Funding will commence once that is out of the way. And hopefully trading to kick-off shortly after.
    Thank you for the time and effort

  8. #8
    Quote Originally Posted by ;
    Anyone that is a fantastic trader wouldn,t be bothered with this type of offer.
    Why would not they just keep doing it on their own.
    Yeah, that's been stated. Thanks.

  9. #9
    The Trader Idol phase of the experiment/project/journey is over.
    Finalists are chosen.

    So, I will use this oppertunity to reply to those who implemented I am not pm'ing all of you <img data-emoji=”stuck_out_tongue_winking_eye” width=”18” height=”18” class=”emoji” src=”https://cdn-resources.forum.net/images/emojis/64/1f61c.png?v=1.0.0.1” />:.
    Firstly, thanks for taking the time. If you didn't get in, sorry.

    For those of you who I have pm'd. You are still on the short-list if you want to be, and also have a crack in the account later in this year.

    To the initial trader selected, well you know who you are, therefore there's nothing to say to you.

    We are just finalising non-discolsures, lpoa, and whatever other legalities involving us and we ought to be ready to rumble!

    Could I simply say to all of the haters out there.
    I really don't think you've really wondered why I am doing this...
    If I could quote the trader really selected
    Quote Originally Posted by ;
    Yea, kind of Forex traders as a method...
    Starting to make sense today? Kind of a Zen System-No-System.

    Exposing this account to several traders' fashions, attitudes, methods. I think the expectancy goes only one way. UP. Disagree if you prefer, but remember. No-one is a good trader all of the time.

    Also, I am not concerned about just how much money they are going to create me and themselves, more about just how much they are going to lose.
    I based the decision more on their overall risk appetite, drawdowns etc.. Personality to an extent.
    So if you are shocked that you didn't get in promising me 5% per day, there's why.
    It can be something for you to consider too!

    to all!

  10. #10
    Whether you intended to do anything like 12, I am not sure but I think it would be helpful to post a overview of items for the rest of us to follow.

    Preferably this could be a daily one with functionality and also open positions, but I understand that this might be asking a lot?

    Verno

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