5 replies to this topic

[MikeyG]

6 months later of paperwork and a lifetime in the making.

Going for big returns!

[K Wave]

What all was involved?

 

Just looking for general steps involved.

Thinking of possibly doing the same at some point in the not too distant future. But have not really looked much into the details yet.

 

I have plenty to live on for the rest of my life, so thinking about helping some others out in their fight against the machine.

[MikeyG]

1) Confidence in making consistent returns with little drawdown

2) Need capital (I would say a minimum of $400,000)

3) Hire an attorney to file proper paperwork (I would recommend one that does this for a living)

4) Pass Series 3

5) Lots of questions from NFA, keep on fixing paperwork

6) Hire a CPA

7) Start building an official audited track record

8) If track record is successful, raise additional capital 

 

 

Let me know if you have any other questions! 

[K Wave]

1) Confidence in making consistent returns with little drawdown

2) Need capital (I would say a minimum of $400,000)

3) Hire an attorney to file proper paperwork (I would recommend one that does this for a living)

4) Pass Series 3

5) Lots of questions from NFA, keep on fixing paperwork

6) Hire a CPA

7) Start building an official audited track record

8) If track record is successful, raise additional capital 

 

 

Let me know if you have any other questions! 

I used to have a Series 7, but that was long ago.

 

Are you doing solely futures, or Stocks, Bonds and Futures?

List above seems futures related.

 

What I want to start will not be just futures.

 

Thanks.

[MikeyG]

 

1) Confidence in making consistent returns with little drawdown

2) Need capital (I would say a minimum of $400,000)

3) Hire an attorney to file proper paperwork (I would recommend one that does this for a living)

4) Pass Series 3

5) Lots of questions from NFA, keep on fixing paperwork

6) Hire a CPA

7) Start building an official audited track record

8) If track record is successful, raise additional capital 

 

 

Let me know if you have any other questions! 

I used to have a Series 7, but that was long ago.

 

Are you doing solely futures, or Stocks, Bonds and Futures?

List above seems futures related.

 

What I want to start will not be just futures.

 

Thanks.

 

 

I mostly trade futures due to tax advantages but will trade stocks and options as well. 

 

Once your cross over a certain number, not sure but $125M comes to mind and you want to continue to trade stocks then I think you might need a 7.

 

I would ask a hedge fund attorney. 

 

I had a 7 as well back in the day, it's a much lengthier test than the 3. 

[K Wave]

Thanks. Best of luck in your new venture.