This thread has been started following on from the Traders Wanted thread which you should read here
http://www.trade2win.com/boards/forex-discussion/64112-trader-wanted.html
Please review this thread for my background and aims.
This thread is designed to promote a brilliant idea by Sean Singh (his post is at the end of this).
To date, my initial request has resulted in 4 engagements with experienced traders to which we are placing £100K GBP under management with commission return to the traders.
We aim to set on more traders over the next month with a short term aim of 10.
However, we appreciate that there is raw and developing talent out there, and indeed on this board who have not got the lenghy trading experience behind them, but have the skills.
We are happy to harness that talent for a win / win outcome.
Here is how it works;
1. You request details by email
2. We reply with details and you apply
3. We call and meet you.
4. If all parties are happy, we give you a £10K broker account, accessed by Limited Power of Attorney
5. We share profits with you 50/50 - We cover risk of loss
6. We review and compound and add to the account based upon proven performance.
Simple!
So if you believe that you have the talent to become a professional trader and want a backer - please email [email protected] now.
Seans's reply reproduced;
Glen, Why dont you consider focussing on slightly fresher talent.
Guys and Gals that have made it in this business will not be motivated by 100k / pa.
If you were to supply funds of say 10k to a fresher talent...limiting their risk per trade to an absolute max of 5% and then see how they go....give them a 50/50 split on profit generated. I would also add that they don't get paid unless their capital account balance exceeds the start capital sum of 10k.
I'm sure this will give you ample room to establish who's got it and who simply hasn't without destroying a few million pounds in the process.....trust me...this business is very dangerous.
The reason why I say this is because, there are great traders out there, but they do not have the excess funds to really exploit their developed talents...they have taken risk with their own money and lost it during developing their skills in trading by over leaveraging and now are really wasting their time with peanuts stakes, frustrated by the uphill battle to build up capital.....I think this is where you'll find an excellent niche.....as long as you build a programme to establish solid control.
If you could be the risk manager/ controller...and then let them go ahead and do what they are good at....It would be better to have 10 traders working 100k, rather that 1 trader that could blow 100k in 2-3 trades if he's or she having a bad day...
So...where & how did these traders that I think you should be targeting fail....they failed to control their underlying risk capital.....how did this happen?..they hit clusters of bad trades...leading to them chasing, probably through doubling up stakes to get their own money back since the money being traded was money that they could afford to lose....basically emotion took over...desperation for survival takes over...and now thier not trading what they see....their actually trading what they want to see....this is where they blow up their account as they soon realise that markets move further than one expects.
So there you have it....an external capital risk manager / monitor to tame and nurture fresh talent is what I think you should consider. Working with / controlling an established trader will be a nightmare as the trader will always know best even though he / she could be costing you millions through bad trades.
Then again...you may find a diamond experienced trade....but he/she will certainly get the lions share of the profits while you're risking all the cash! plus diamonds are rare!
Anyway...good luck with you're endeavors....Sean
http://www.trade2win.com/boards/forex-discussion/64112-trader-wanted.html
Please review this thread for my background and aims.
This thread is designed to promote a brilliant idea by Sean Singh (his post is at the end of this).
To date, my initial request has resulted in 4 engagements with experienced traders to which we are placing £100K GBP under management with commission return to the traders.
We aim to set on more traders over the next month with a short term aim of 10.
However, we appreciate that there is raw and developing talent out there, and indeed on this board who have not got the lenghy trading experience behind them, but have the skills.
We are happy to harness that talent for a win / win outcome.
Here is how it works;
1. You request details by email
2. We reply with details and you apply
3. We call and meet you.
4. If all parties are happy, we give you a £10K broker account, accessed by Limited Power of Attorney
5. We share profits with you 50/50 - We cover risk of loss
6. We review and compound and add to the account based upon proven performance.
Simple!
So if you believe that you have the talent to become a professional trader and want a backer - please email [email protected] now.
Seans's reply reproduced;
Glen, Why dont you consider focussing on slightly fresher talent.
Guys and Gals that have made it in this business will not be motivated by 100k / pa.
If you were to supply funds of say 10k to a fresher talent...limiting their risk per trade to an absolute max of 5% and then see how they go....give them a 50/50 split on profit generated. I would also add that they don't get paid unless their capital account balance exceeds the start capital sum of 10k.
I'm sure this will give you ample room to establish who's got it and who simply hasn't without destroying a few million pounds in the process.....trust me...this business is very dangerous.
The reason why I say this is because, there are great traders out there, but they do not have the excess funds to really exploit their developed talents...they have taken risk with their own money and lost it during developing their skills in trading by over leaveraging and now are really wasting their time with peanuts stakes, frustrated by the uphill battle to build up capital.....I think this is where you'll find an excellent niche.....as long as you build a programme to establish solid control.
If you could be the risk manager/ controller...and then let them go ahead and do what they are good at....It would be better to have 10 traders working 100k, rather that 1 trader that could blow 100k in 2-3 trades if he's or she having a bad day...
So...where & how did these traders that I think you should be targeting fail....they failed to control their underlying risk capital.....how did this happen?..they hit clusters of bad trades...leading to them chasing, probably through doubling up stakes to get their own money back since the money being traded was money that they could afford to lose....basically emotion took over...desperation for survival takes over...and now thier not trading what they see....their actually trading what they want to see....this is where they blow up their account as they soon realise that markets move further than one expects.
So there you have it....an external capital risk manager / monitor to tame and nurture fresh talent is what I think you should consider. Working with / controlling an established trader will be a nightmare as the trader will always know best even though he / she could be costing you millions through bad trades.
Then again...you may find a diamond experienced trade....but he/she will certainly get the lions share of the profits while you're risking all the cash! plus diamonds are rare!
Anyway...good luck with you're endeavors....Sean
