Has anybody ever set up a relative to trade? If so using what structure?

[random12345]

how's the in-law doing? making you proud?

No.

He's already drawn two months rent and living expenses from the original capital...

Charity. Absolute charity.

 

[Dameon]

kiss goodbye to your money, you will never see it again!

 

[robster970]

No.

He's already drawn two months rent and living expenses from the original capital...

Charity. Absolute charity.

Has he placed any trades yet?

 

[random12345]

Has he placed any trades yet?

No idea what he's doing, he only has to report to me once a quarter with a performance report or when he draws a salary/raises a div.

 

[malaguti]

No idea what he's doing, he only has to report to me once a quarter with a performance report or when he draws a salary/raises a div.

jeez Random, once a quarter! I'd want updates each week, until i knew he was capable..then monthly, then quarterly. He could come back to you in a quarter with nothing left!

 

[robster970]

No idea what he's doing, he only has to report to me once a quarter with a performance report or when he draws a salary/raises a div.

I suppose it's best you don't know what he's doing really.

How long can he live off the capital for by not trading?

 

[random12345]

jeez Random, once a quarter! I'd want updates each week, until i knew he was capable..then monthly, then quarterly. He could come back to you in a quarter with nothing left!

I honestly can't be bothered to scrutinise his trading or even discuss it with him. A single quarterly p or l figure suits me fine.

Total ruin could indeed be a possibility. I figure he'll at least be left with the margin!

 

[random12345]

I suppose it's best you don't know what he's doing really.

How long can he live off the capital for by not trading?

Quite a while I should imagine, a number of years.

 

[tar]

jeez Random, once a quarter! I'd want updates each week, until i knew he was capable..then monthly, then quarterly. He could come back to you in a quarter with nothing left!

Weekly reports will put a pressure on the kid so he wont be able to make any money , Quarterly reports will give him a chance to chase losses , average-down ... etc !

 

[jungles]

You must have a lot of love for your b-in-law, Random

Did you train him up or just let him loose?

No.

He's already drawn two months rent and living expenses from the original capital...

Charity. Absolute charity.

.......funny

or when he draws a salary/raises a div.

 

[random12345]

You must have a lot of love for your b-in-law, Random

Did you train him up or just let him loose?


.......funny

Train him up how? He's a bit thick for algos and I have no decent sample size of discretionary trading working as something to pursue for a living so I wouldn't know what to teach him. Get a job, sir!

 

[jungles]

you've been played; it turns out the "loser" has found himself an income with little work........YOU!

and i wouldnt be so hard on discretionary trading, some do it quite well

Train him up how? He's a bit thick for algos and I have no decent sample size of discretionary trading working as something to pursue for a living so I wouldn't know what to teach him. Get a job, sir!

 

[random12345]

you've been played; it turns out the "loser" has found himself an income with little work........YOU!

and i wouldnt be so hard on discretionary trading, some do it quite well

Haha well I'm not sure I was played as such...? Did I seem innocent in this regard to you?

I wasn't being hard on discretionary trading, I just said that *I* cannot teach it as a way to make a living. I only like things that can be well measured when it comes to food, shelter and compounding wealth. I agree with everything William Eckhardt says (apart from a few things that have changed around actual algo functionality) in New Market Wizards as a shortcut to this conversation.