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We are a small private equity hedge fund group with approximately 30M under
management. We currently specialize in sell side index options trading with
fully hedged butterfly and condor plays with no overnight risk. Currently we
are returning over 17% annually in these classes with a no fee system based
on monthly capped investor returns. Due to the accuracy and complexity of
our hedging, our maximum drawdown has yet to exceed 6%.
We have also recently opened a futures trading arm to our fund group focused
on the S&P 500 Mini Contract. The core of this group and the initial asset
class is a small scalp fund which trades momentum in extremely short
timeframes with a risk model of 100 contracts traded per 1M account size.
This fund is extremely successful with returns of over 70% annually and is
currently at capacity with 3M in equity.
We also have opened a financial services arm of our business which is taking
in an initial sum of 20M in new capital earmarked for placement in some new
futures asset classes we would like to create. These will focus on
non-discretionary strategy trading and will require ongoing programming
support and strategy creation and re-evaluation. Instead of hiring a full
time programmer/trader, we have decided to solicit a private individual
trader to consider lending one or more successful strategies to the fund
group and share in the considerable profits generated from them. The ideal
candidate will be a solid trader who possesses above average programming
skills in Tradestation Easy Language or NinjaScript who would like to make
more money from their strategies but finds themselves undercapitalized. Make
no mistake, we are NOT a prop trading organization and we do not require any
risk of your own capital. We will require that you demonstrate to our team
that your strategies generate high and consistent returns, even if with a
small amount of capital in live trading as well as performing well in
historical testing.
Specifically, we are interested in strategies which can be deployed intraday
only as we carry no overnight risk in any of our funds. Due to liquidity
issues the setups should perform well on the ES or Forex markets since we
will be trading a substantial 20M account size initially. This will equate
to 2000 contracts ES with our target risk model. From our experience, at
least with the ES, strategies taking signals off 15 or 30 minute charts
should work nicely with these order sizes. Extremely small profit targets
and well managed risk are actually our specialty, so small but consistent
returns per trade are not only OK but preferred. Ideally, we would like the
individual to bring several automated setups which can be employed in
trending conditions, breakouts from consolidation and even countertrend
trades based on price exhaustion generated by news would also be OK. In
short, we just need to be able to generate consistent returns in this
account from a variety of market conditions.
So what is the catch? Honestly there isn't one. We are perfectly capable of
generating and programming automated strategies ourselves, but frankly we
don't have the time or the inclination. We have our hands full with our
other funds and will for the duration. Our dilemma is simple. We are kind of
in a trap. We have more new capital coming in than we can trade because our
funds are small and governed by liquidity limitations - that is why our
returns are big. So since we have no time to develop new asset classes we
have to keep turning down that money until we find someone to create those
new asset classes. We have several other programmers on staff that handle
our proprietary hedging software and we don't need another one. We need a
trader first who is also a programmer and has the incentive of making the
strategies perform and not one who is working for a salary. We don't need a
salary and neither should you if your stuff really works. We don't take
management fees of any kind so if we don't trade well we make nothing. We
put up or shut up every day in our own trading and as a result we get filthy
rich as long as we make a profit. We also don't want someone from the
industry as we like to fly under the radar. I don't want some hotshot who
has worked everywhere and knows everyone. Guys like that get drunk and tell
everyone what we are doing and then we have a mini LTCM on our hands because
some big fund starts front running our golden goose and kills it. Loose lips
sink ships. In sum, to paraphrase our dear Gordon Gekko, we just want a guy
(or girl) who is poor, smart and hungry.
Yeah, yeah, I know - how much money will I make you ask? Let me start by
describing duties. If you have some stuff that works you just have to prove
it to me and I'll put 20M into an account and start trading it. Case closed.
From there, if the performance starts to suffer, you will have to go back to
the drawing board and figure out why and fix it or put something else in it's
place.. I would hope in the meantime you will continue to play with ideas
and give us a constant flow of new stuff so we can ramp up as we go. You don't
even have to put the trades on or manage anything intraday, we have some
hourly guys that can stare at screens and make sure the automation is
working right. That is the easy part. All you have to do is give us
strategies that work consistently and produce great returns relative to
their risk models. That's it. Our firm operates as a think tank and you will
be paid to think just like the rest of the partners.
In terms of income, let me break it down for you. If we roll 20M into your
strategy and you can make it give me 3 ES points a week net of commissions
and slippage and get me flat at the end of the day, I'll pay you a base
$40,000 a month for as long as it keeps working at that level and some other
incentives as well - more if it delivers bigger returns than that obviously.
The sky is the limit. I'll buy you a Ferrari in a different color for each
day of the week if your returns warrant it. You make us money and we are
going to make you rich. Period.
If this all seems like your brand of Vodka, I would love to hear from you.
Please send a letter of interest to bravetrading@xxxxxxxxxxx and I will get
back to you. In case you are skeptical, I assure you we are completely
legitimate. Our individual funds operate as private investment partnerships,
but our core company is a Broker/Dealer firm and we have a joint back office
with a top tier investment bank and servers on their floor. Obviously I will
also forward brochures, web info, and all other pertinent information to you
after initial contact is made.
Best,
Rob
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