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Money managers

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Trading Apprentice
Pasadena
 
Futures Experience: Intermediate
Platform: TradeStation
Favorite Futures: ES
 
Posts: 1 since Nov 2011
Thanks: 0 given, 1 received

Money managers

Beware of money managers (aka con artists) with many years of "experience" and lots of credentials but no auditable track record. I lost $60000. to a commodity broker (Pattison) who actually did not know how to trade to make money and charged high commissions to boot. I'm lucky that I pulled the plug on him before he zeroed me out. If you ever do hire a money manager, be sure to have a stop loss set before he trades and stick to it. I would use a stop any where from 15% (slow markets) to 25% (active markets) as measured from the peak value of the account. If he trades futures and does not use hard stops, go find another money manager.

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