Keep records

Fran8 · Dec 11, 2008

Hi

Im going to start trading from my own account. I will like if things go the right way to try to atract people to invest with me. So is important that I keep record of how Im doing, obiously it will have to be in a valid form like creating a company or something like that.

Can anyone please give some advice?

Thanks

porph · Dec 12, 2008

Excel sheet? Trade direction, Open/Close prices, profit in pts, monetary value after commision/spreads. Keep a running balance, add some spangly graphs and away you go. Its the content that counts, not necessarily how you present it.

raysor · Dec 12, 2008

Fran8 said:
Hi

Im going to start trading from my own account. I will like if things go the right way to try to atract people to invest with me. So is important that I keep record of how Im doing, obiously it will have to be in a valid form like creating a company or something like that.

Can anyone please give some advice?

Thanks

The more official it gets the worse it will be. I take it you are not authorised to give investment advice (and this includes financial promotion). If it is just friends sharing investment ideas/ trading platform/ investments then you will probably get away with it. But what if it goes wrong and you lose someone money and they complain/ sue you?

Fran8 · Dec 12, 2008

No at the moment I do not have the Investment management Certifcate so I will be trading from me own accounts but Im taking the exam in january so hopfully in the future I will be legally able to advice that is why is important for me to keep record

BSD · Dec 12, 2008

Assuming you're UK based you will have to register with the FSA.

You'll have to have your track record audited by an independent certified public accountant, but obviously that is no guarantee against hanky-pankys going on.

If it?s not Audited, It Doesn?t Count MarketSci Blog

raysor · Dec 12, 2008

BSD said:
Assuming you're UK based you will have to register with the FSA.

You'll have to have your track record audited by an independent certified public accountant, but obviously that is no guarantee against hanky-pankys going on.

If it?s not Audited, It Doesn?t Count MarketSci Blog

I think he is US based (anything goes!)

Keep records

Fran8

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porph

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raysor

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Fran8

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BSD

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raysor

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