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I have 350k and want to give it to a futures trader to manage.
I have already posted announcements of collaboration in several places and am getting answers. Question) How to protect yourself from fraud. What proof of profitability to ask the trader? please share your experience in this matterr
Can you help answer these questions from other members on NexusFi?
I'm guessing this is a joke. If you have 350k to invest you can afford a financial advisor rather than asking strangers on the internet to offer to invest/trade/gamble/take your money.
(But if a joke - Perhaps asking them to cross their heart and promise they are not part of a prescribed terrorist organisation so that if you do lose your money at least you don't get charged with financing terrorism as well. Other than that a screenshot of a trading statement should be fine and you're good to go).
You do not win as a trader, you just get to play again the next day. If that game doesn’t appeal to you then you should not trade. Gary Norden
Anything less than 1 year is not very useful in my opinion, but it depends on the type of strategy. The more it is prone to fat tailed distributions the larger of a dataset you'll need to see before you can really see how it performs. For instance, if it's a strategy that takes on a lot of risk where the average loser is larger than the average winner then you'll need more performance to verify.
Individual results are always anecdotal, so it's much more useful to get evidence that they've found an actual exploitable market inefficiency / edge.
Really though you should be looking at hedge funds, not for people on internet forums.
You will need to answer first what is your expectation of returns? (To yourself)
Most don't need a third party to trade for them as long as they have patience. Even if they think otherwise.
"If" your expectation is more than returns over 10 years bonds of some promising third world economy, or some promising indexes including commodities, its a gray area where you risk losing it all to snake oil salesman and not making a squat.
Here is a hint, its very unlikely that you will find a real profitable trader who actually has a real edge trading for you. Especially for that kind of money.
I thought there was a fund in Florida maybe associated with Tom Basso. Whatever it was it was mentioned on Covell's show. I remember thinking that if I ever threw in the towel I would go with them. Does anyone know what I'm talking about? It was a specific fund in a well known fund family.
Coming, they can't be denied. Going, they can't be detained.
