Looking for investors

. . . Do you think I am ready to manage other people's money. . .
Hi africa134,
The Myfxbook link doesn't tell anyone anything of any value I'm afraid, the main reason being that you've only completed 13 trades. Statistically, that's meaningless, and no one in their right mind will invest in you on the strength of that. Also, your success ratio (as it stands) is less than 50%. Granted, your profit ratio is very good and compensates for this to generate an overall profit, but it remains an area for concern nonetheless. Based on what stats there are, my guess is that you're utilising a trend trading strategy? In order to attract investors, ideally you'd get the success ratio comfortably north of 50% and your body of trades needs to be circa 10 times what it is at the moment. Then you might have something.
Tim.
 
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As Tim said, plus it's less than a year. In my circles, three years is considered a minimum for a track record before it's considered investable by third parties.
 
The biggest problem you'd have is - no one wants to trust a 24 year old with their money.
 
The biggest problem you'd have is - no one wants to trust a 24 year old with their money.

I wouldn't say that.

I would say the biggest problem is not trusting the evidence that you see to support the growth return claim.

If these money managers could show something that you have absolute faith in believing then you'd be more comfortable giving it to them, but they can't.

Not even what appears to be an original broker statement would make me feel any safer. Not even talking to the broker and getting their confirmation that the returns are accurate would make me feel safe.

The only way unfortunately I would believe them is if I knew someone who I trusted had a current investment with the actual money manager, not the firm, and would confirm the claims are true.

Even then I would tread very carefully.

I've spoken to so many money managers over the last few years and the number of them that make money over a long period is very small. The number of money managers who make what they say they will make based on past returns is even less, I could count them quite literally on one hand.

this guy may be the real deal eventually but he hasn't got anything to show to support that right now. The fact that he's 24 doesn't bother me. By the time I was 24 I had already had 6 years experience at big firms (Tulletts and Prebon) in 3 different centres (Sydney, London and New York) so his age shouldn't worry you but his supporting evidence or lack of it probably should.
 
I w By the time I was 24 I had already had 6 years experience at big firms (Tulletts and Prebon) in 3 different centres (Sydney, London and New York) so his age shouldn't worry you but his supporting evidence or lack of it probably should.

With respect, being a 24 year old broker is a very different proposition to a 24 year old money manager. At 24 it would be impossible to show that you'd had enough life experience (of economic cycles for a start) to take a broad view, as a broker as long as you're a good salesman with decent product, age is much less relevant.
 
With respect, being a 24 year old broker is a very different proposition to a 24 year old money manager. At 24 it would be impossible to show that you'd had enough life experience (of economic cycles for a start) to take a broad view, as a broker as long as you're a good salesman with decent product, age is much less relevant.

yes, you're right and they are 2 very different job roles now as they were then. It wasn't just about being a good salesman, I used to have to drink a brewery each night and suffer the tedium of another lap dance !

I was trying to make the point that him being 24 was not the main reason to not invest in him. IMO the main reason not to invest in money managers is most of them cannot provide any evidence that would support their claim to be making huge returns in FX.

It certainly wouldn't be impossible for someone to be trading successfully for a few years by the time they're 24 but it would be unlikely. Proving that they're successful is even more unlikely.

Some 24 year olds are able to act far more professionally and with higher morals than a lot of the mid 40 year olds that I consider to be very experienced but also worn down, worn out, not bothered, not good enough.. etc
 
Thanks again for your insights. I now realize that I am under trading and I will start trading more and also gain more experience. It is great to see people who have been in the field for many years give a 24 year old some good pointers on how to improve and I really appreciate it. If anyone has anymore insights or ideas that I will need, please tell me. Thanks again
 
Thanks again for your insights. I now realize that I am under trading and I will start trading more and also gain more experience. It is great to see people who have been in the field for many years give a 24 year old some good pointers on how to improve and I really appreciate it. If anyone has anymore insights or ideas that I will need, please tell me. Thanks again

well, you're already at myfxbook, it's a good place to start actually. you may follow their autotrade feature, lead by 100 trades minimum, 50 DD max, and proven track record for at least 3 months, all this requirement are simply minimum specs before any potential investor take a notice upon your trading performance.
dont bother with thinking of managing someone else account, just keep on the good trading performance, you dont need anything else when you have one! as you dont have to looking for investor, when you're really good at trade they will eventually search for such talent, literally hunting for some. besides you;re at 24, still many room to grow both your knowledge and experience.
 
well, you're already at myfxbook, it's a good place to start actually. you may follow their autotrade feature, lead by 100 trades minimum, 50 DD max, and proven track record for at least 3 months, all this requirement are simply minimum specs before any potential investor take a notice upon your trading performance.
dont bother with thinking of managing someone else account, just keep on the good trading performance, you dont need anything else when you have one! as you dont have to looking for investor, when you're really good at trade they will eventually search for such talent, literally hunting for some. besides you;re at 24, still many room to grow both your knowledge and experience.

Thank you I really appreciate it
 
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