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It is good to see that there are a few professionals on the list!!
Very well and accurately said Mark
Sid. Gold
-----Original Message-----
From: Mark Brown <markbrown@xxxxxxxxxxxxx>
To: Omega List <omega-list@xxxxxxxxxx>
Date: Sunday, March 14, 1999 5:48 AM
Subject: C.T.A.'S
>I have received very few emails from CTA's concerning the 5 million dollars
>to be given out. I posted this message in a futures news group also, so I
>know it has gotten exposure. I have received MANY emails from prospective
>traders who are individuals trading their own accounts and maybe some
>accounts for friends and family. Most of the mail from non CTA's has a
tone
>of resentment against my need for the person being such. I AGREE
completely
>with you! I wish it were not necessary that a good trader had to register
>as a CTA so that they could get paid for their ability. I believe the two
>(being a good trader and being a registered cta) have nothing to do with
>each other. But the law in the US has our hands tied when it comes to
>managing large amounts of money. I can only get the trader paid (legally)
>if they are a registered CTA, thats it. There are ways a good trader can
>work around this issue. I have done so myself, I am a CTA but I do not
>handle ANY clients money. I prefer to do research and development
>completely on my own unaffected by the pressure of having clients money. I
>set up a corporation that sells automated system signals to CTA's who in
>turn do manage clients money. This keeps me at arms reach and allows me to
>concentrate on doing the things I want to do. It also allows the CTA's to
>concentrate on what they do best which is raise money and manage the
overall
>big picture. If you are a individual who finds themselves in the same boat
>as I (wanting to full time research, but get paid for your work/ideas) then
>you may want to consider doing what I did. There are some really good
guys
>out here that I have met that are hard workers and not con artist looking
>for the next victim. Many of these budding traders have the brain power to
>succeed in the trading business. BUT they will most likely run out of
>personal money during the learning curve. If you are to endure in this
>business you have to have a peer review (even me) to make you come down to
>earth and look at the perils of methods. Many system developers stop the
>process when they believe they can no longer improve on a model. Knowing
it
>has faults they will not dare trade it themselves, rather seeking someone
>else's funds to try it out on. The person who will make it (credibly) in
>this business. Will be one who, has a concision and is just as concerned
>about the clients money as they are their own money. If it isn't good
>enough to trade your own money with it then why would someone else want it?
>
>I drifted a bit from my original intent to writing this message : I wanted
>to make it clear that being a CTA to receive these funds was not my idea
>rather it's the LAW.
>
>Thank You,
>Mark Brown
>
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