A friend of mine and I have been preparing for some time now to phase into going live on a joint account, with the majority of the capital coming from me and the majority of the legwork coming from him. We plan to be specializing in different instruments but at times trading during the same hours.

Im looking for some insight on how to design a risk management strategy around 2 partners trading from the same account. While I want to keep my per-person risk very low </= 1% per trade, that becomes harder to do if I approach it from the view of each having 1/2 of the acct.