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Thinking of Outsourcing my Day Trading
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Created: by El Chupacabraj Attachments:0

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Thinking of Outsourcing my Day Trading

  #1 (permalink)
Trading Apprentice
Port Arthur, TX/US
 
Futures Experience: Beginner
Platform: TOS
Favorite Futures: Stock Index Futures
 
El Chupacabraj's Avatar
 
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Thinking of Outsourcing my Day Trading

Got an idea as I was reading "The 4 Hour Work Week" by Tim Ferriss. Although I'm new to trading futures I do have some simple trading sytems I think will be profitable with proper money management. Problem is my work schedule does not allow me much time to trade. What do you think about hiring someone to trade my set ups on a small account for X amount per hour, a couple of hours a day?

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  #2 (permalink)
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In the heat
 
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El Chupacabraj View Post
Got an idea as I was reading "The 4 Hour Work Week" by Tim Ferriss. Although I'm new to trading futures I do have some simple trading sytems I think will be profitable with proper money management. Problem is my work schedule does not allow me much time to trade. What do you think about hiring someone to trade my set ups on a small account for X amount per hour, a couple of hours a day?

how about a profit split instead....makes more sense....

Simplicity is the ultimate sophistication, Leonardo da Vinci


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  #3 (permalink)
Trading Apprentice
Port Arthur, TX/US
 
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PandaWarrior View Post
how about a profit split instead....makes more sense....

It makes sense but I thought it might be beneficial for the individual trading to not have any emotion tied to wins/losses. However, a profit split could be a motivating factor.

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  #4 (permalink)
Elite Member
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Trading can be taxing and especially if you want a small X per hour your going to get what you pay for. If you want someone who is already experienced at trading, and not a neophyte who might make mistakes. you have to make it worth it because they are probably trading during the most liquid trading hours anyway.

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  #5 (permalink)
Trading Apprentice
Port Arthur, TX/US
 
Futures Experience: Beginner
Platform: TOS
Favorite Futures: Stock Index Futures
 
El Chupacabraj's Avatar
 
Posts: 6 since Feb 2013
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treydog999 View Post
Trading can be taxing and especially if you want a small X per hour your going to get what you pay for. If you want someone who is already experienced at trading, and not a neophyte who might make mistakes. you have to make it worth it because they are probably trading during the most liquid trading hours anyway.

I was thinking more along the lines of a college student interested in learning about futures trading while making a little cash. They would just be required to execute some simple trading rules during a 2-3 hour window of trading. I think it may be best if they have no opinion or experience in the market. That way they are just concerened with executing the trade.

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  #6 (permalink)
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El Chupacabraj View Post
Got an idea as I was reading "The 4 Hour Work Week" by Tim Ferriss. Although I'm new to trading futures I do have some simple trading sytems I think will be profitable with proper money management. Problem is my work schedule does not allow me much time to trade. What do you think about hiring someone to trade my set ups on a small account for X amount per hour, a couple of hours a day?

You lost me with the above sentence (I highlighted it in bold). I think you need to make sure you KNOW you have a profitable system before you turn someone else loose with your money. Even then, there are a lot more issues that need to be addressed.

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  #7 (permalink)
Elite Member
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Couldn't you automate it all?

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