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Rick,
I think you should be wary. Most good CTAs will charge 20% of New profits
at the worst. Charging you 50% of profits is too much.
Regards
David Hunt
http://www.adest.com.au
-----Original Message-----
From: BrentinUtahsDixie <brente@xxxxxxxxxxxx>
To: Bando57@xxxxxxx <Bando57@xxxxxxx>; RealTraders Discussion Group
<realtraders@xxxxxxxxxxxxxx>
Date: Saturday, January 02, 1999 6:41 AM
Subject: Re: DAYTRADING PARTNER
>My thought is that unless this trader is someone like Richard Dennis, with
a
>GREAT track record; I'd run, not walk away from this one. What percentages
>are customary I'm not sure either but 50% has got to be excessive unless
>they are going to pay 50% of the losses as well. It goes without saying
that
>you should investigate any trader/manager to make sure they are legit with
>the right credentials etc.
>
>
>Brent
>
>-----Original Message-----
>From: Bando57@xxxxxxx <Bando57@xxxxxxx>
>To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
>Date: Friday, January 01, 1999 12:23 PM
>Subject: DAYTRADING PARTNER
>
>
>>Just to show traders what is out there..here's an offer I received this
>>week...
>>
>>First off I am a position trader using end of day data..and I have been
>>thinking of switching to realtime and daytrading..holding positions only
to
>>end of day....etc...
>>
>>
>>I have been researching different methods...different software
>>setups...different data suppliers...and I came across someone who was
>looking
>>for a partner.
>>
>>Here's his offer:
>>
>>share the costs of data supply and software..he claims this would be $350
a
>>month..we would have our own accounts but he would do the trading...he
>would
>>charge me 50 percent of all profits made in my account.
>>
>>Is it just me but isnt that rather irregular...50 percent???.....if you
>factor
>>in monthly costs...commissions...one or two months of losses i think would
>>severely limit chance of much success...I mean the rate of return would
>have
>>to be extremely high to make this viable..
>>
>>what is the going rate for managed accounts of this sort?..
>>
>>I just throw this experience out as food for thought?
>>
>>Rick
>>
>
>
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