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I tried this twice a couple of years ago for exactly the same reason
(diversification) and ended up with hefty tax write-offs in both cases. In
one case, the guy flat out misrepresented the trades he had been posting to
his web site for over a year (he ceased publishing trades after I filed with
the CFTC) and in the other, the commissions exceeded the gains. Both had
been trading for many years and came with excellent references which I
checked. Both operated on the basis of trading a brokerage account for which
they issued trading instructions without actually being designated a managed
account thus avoiding the necessity of registration as a CTA. If you look at
the managed accounts reports, you will find that most CTA's are losing money
for their customers.
If I were to try it again, which I'm not likely to do for a while, John
Lothian (who posts here) had a couple of large managed commodity funds with
bundles of disclosure which didn't look too bad. I would recommend
contacting him.
FWIW, another avenue I pursued for a while was using Futures Truth to
identify the cream of the available trading systems in the hope of finding a
system to diversify my trading ... bottom line was I did not find anything
in which I had faith and felt I would be comfortable trading e.g. some of
the "better" systems take huge drawdowns to achieve success.
Bottom line, with the possible exception of managed commodity funds, odds
are high you are looking down the barrel of a gun with 5 of 6 chambers
loaded!
Earl
----- Original Message -----
From: "M. Simms" <prosys@xxxxxxxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Saturday, January 05, 2002 3:38 PM
Subject: RE: [RT] Someone to trade my capital -- S&P 500 Futures
> > -----Original Message-----
> > From: Brian Keith Voiles [mailto:admagic@xxxxxxxx]
> > Sent: Saturday, January 05, 2002 2:48 PM
> > To: realtraders@xxxxxxxxxxxxxxx
> > Subject: [RT] Someone to trade my capital -- S&P 500 Futures
> >
> >
> > In an attempt to diversify... I am thinking about taking $20,000 of
> > my equity and having someone else trade it using a system that would
> > be different than mine.
> >
> > Can anyone recommend an accountable trader who would be
> > interested in an equitable arrangement to trade my "diversified
capital"?
> >
> > A track record (including account statements) would be a must.
> >
> > Any recommendations would be appreciated.
> >
> > Thanks,
> > Brian Voiles
> >
> >
> >
> > To unsubscribe from this group, send an email to:
> > realtraders-unsubscribe@xxxxxxxxxxxxxxx
> >
> >
> >
> > Your use of Yahoo! Groups is subject to
http://docs.yahoo.com/info/terms/
> >
> >
>
>
>
> To unsubscribe from this group, send an email to:
> realtraders-unsubscribe@xxxxxxxxxxxxxxx
>
>
>
> Your use of Yahoo! Groups is subject to http://docs.yahoo.com/info/terms/
>
>
>
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