Trading using someone else's funds - page 7.

Mahanton

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Quote from: Twinkledoe on July 12, 2020, 04:57:20 PM

Quote from: Kelvinid on July 12, 2020, 04:50:37 PM

If you have enough money to funds your trading carrier much better to make it alone. In fact, $10,000 is big enough to generate profit in trading that makes no need to get some loan or to have your friend's money. If we assume that you use your friend's money but I don't agree for 50/50 split, it gonna be more share for your side than in your friend because you are the one working in it.
However, these things are not really a good idea...you'll say that you are a good trader which I supposed to think that you can make money pretty easy in trading and could multiply it.

What more can I say? Better do his own business and not use someone else's funds. It will make his life a mess. If what he is claiming is true, being a good trader, there's no need to get money from his friend. As this will be the start of his problems in trading. He should focus on his own account and not be bothered by other things. I don't see any reason accepting someone else's money if you are already doing good on what you do.

Its something logical or even a common sense thing to be done and as been reasoned that he do look for more funds to extent out his capital then he can make it on his own since he's a profitable trader and its true
that when you handle out someones money then thats already a burden thing to add up into your stress and doubts since you do know that you do need to pay them up some interest of their funds and thats a
stressful thing on my side and it would be much better if you do only trade up with your own money since you do know that in case things do come opposite or turn upside down then you wouldnt worry too much
since no one will able to sue or blame you out incase that thing do happen.

Twinkledoe

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Quote from: Kelvinid on July 12, 2020, 04:50:37 PM

If you have enough money to funds your trading carrier much better to make it alone. In fact, $10,000 is big enough to generate profit in trading that makes no need to get some loan or to have your friend's money. If we assume that you use your friend's money but I don't agree for 50/50 split, it gonna be more share for your side than in your friend because you are the one working in it.
However, these things are not really a good idea...you'll say that you are a good trader which I supposed to think that you can make money pretty easy in trading and could multiply it.

What more can I say? Better do his own business and not use someone else's funds. It will make his life a mess. If what he is claiming is true, being a good trader, there's no need to get money from his friend. As this will be the start of his problems in trading. He should focus on his own account and not be bothered by other things. I don't see any reason accepting someone else's money if you are already doing good on what you do.

Kelvinid

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If you have enough money to funds your trading carrier much better to make it alone. In fact, $10,000 is big enough to generate profit in trading that makes no need to get some loan or to have your friend's money. If we assume that you use your friend's money but I don't agree for 50/50 split, it gonna be more share for your side than in your friend because you are the one working in it.
However, these things are not really a good idea...you'll say that you are a good trader which I supposed to think that you can make money pretty easy in trading and could multiply it.

goaldigger

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I always told my friend about tradings but not to the point that I’ll trade for them because its too risky and I don’t want them to depend on me. Whether its your close friend or not but you have to realize that trading its not easy and even if you make profit, your friends will just sitting around doing nothing and still make money because of you.

Ask your friends to have their own trading strategy and have fun with them I mean its better if you guys both trade on your own and see who will make more profit at the end of the day. They just need your guidance, but never to spoon feed your friend.

ChiBitCTy

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Quote from: CryCrptoCry on July 09, 2020, 01:02:03 PM

Well why the hell do you want to accept the loan if you are such a 'self proclaimed good trader' when you can easily trade with your own funds and grow them to trillions ( as you are a good trader). Why split profits when you can have it all ?
The answer to my question lies in the very fact that there is something shady about you (may be you want to lure some newbie to contact you for trading).
How come you be a good trader when you do not even know how to divide profits ( simple percentage math) ?

Exactly. I would never recommend trading with others. I don't care if they are your best friend or brother/sister. Nothing in the world of trading is guaranteed. You can be the best trader in the world and there's still no such thing as guaranteed profits. Just trade on your own or learn how to if you don't know the ins and out's.

Oceat

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Most suggestions above is helpful but instead of asking us about how to deal with your problem, why not talk to your friend on how would you two split the profit since trading with multiple accounts is a bit of a hassle. Tell your friend what are the procedures and why it's a little complicated on your part. Just don't put yourself in a hassle where you might be risking both of you to lose because you are too pressured.

BitcoinTurk

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Trading with someone else's money is a very risky thing, because in a possible loss, you will have to cover that money and it will also cause you to lose money with the person you use. Also, I want to ask you this. You will share your profit margin in half, but what if you lose money? Will you cover all the expenses or will the partner be covered? If you have been asked to cover all expenses in the event of a possible loss, then I recommend that you take at least 70% profit margin from the profit margin section.
I want to end my message by making a small reminder. When trading not only in the cryptocurrency markets, but also in all the world markets, you should definitely use your surplus money, not debt money. You should not make decisions that the outcome will be very bad when you lose.

GreatArkansas

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Much better here if your friend got their personal account on some exchange and you will just use them with their permission.
You must record all of your trades if in your records or journal did not match in the trade history of their accounts, then probably someone made some trades on their account.
Also, you can use some API of a trading exchange, where every account got this API Key and they will give you that, then you can do whatever based on the permission on the API, this is kinda need some need coding skills if you want to work the API keys.

MCobian

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My advice is never to use other people's money for trading, especially if you promise profit sharing. Because sometimes trading doesn't work
smoothly according to plan, moreover crypto trading has a very high risk. If you are proficient in crypto trading, use your own capital to trading.
More comfortable and safe trading with own capital. Although the capital belongs to a close friend or family, you better not use it,just teach them
your trading skills. So let your friend trade alone, that's the decision you have to make in my opinion.

samcrypto

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Its ok to sign-in and sign-out than to use only one account because your money will be mixed with your friends account and it can be a start of a confusion.

Trading with someone else fund is a lot more stressful in my opinion because your friends depends on you too much and the pressure is on your side to make it more profitable. If you want to lessen the stress then better to teach your friend how to trade and let them decide on their own.

pixie85

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You can always open separete positions with your friend's money and the exchange will keep track of everything for you.

You have 10 thousand and 3 thousand of his money. You want to go long so you buy a coin with 10 and then again with 3. When you take profit you sell 10 and sell 3 in a separate trade a few seconds later and you'll see how much profit you got from 10 and from 3. Then you simply divide that profit from 3 by half and add the other half to your 10 thousand pile. This way you'll keep ading his profit to his portion of the money and always have a clean record of every trade.

crwth

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Personally, it's quite risky to trade with another person's fund. It's like their life is balancing between your decisions and whatever happens, you are responsible. That's what I felt when I tried a community account trading fund. It's not as big as yours when it's around ~$10000. Just a small amount of $500. I computed it's monthly rate and wins and losses with it, and I wasn't that successful. I may have been eager too much with what I can do and lost -22% of the portfolio.

It's an experiment, but it's still part of the process. Hopefully, the contrary runs wouldn't affect you.

thesmallgod

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It is just like an investor giving you money to run a business. You need to calculate the percentage of the loaner in the total amount you intend to trade with. Your profit will be the capital plus interest. Meaning you will need to subtract the capital from your profit so that you have the interest which you will share base on the percentage the loaner contributed to the total cost. The same goes when you are running at lost and if the loaner decide to part way, you will the percentage contributed.

B.wealth

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Is better separating the trade account to free yourself from stress at the end of the year when you want to make returns on the loan you borrowed. Separate the account, at the end the year, divide the profit made on the account 50/50 as promised and do the needful.

jhonjhon

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Quote from: emd023 on July 09, 2020, 12:05:10 PM

Hello. I've been quite successful so far in my trading endeavors. So much so that I've been offered a decent amount of money to trade with if I split the profits 50/50. I just have some questions on how I can go about doing this carefully.

50/50 is quite good enough mate, you both agree with the sharing at first but if you are using the more than the amount that he'll give to you, well that is a different situation and sharing. Handling money is really hard when you don't trust each other, it could sometimes create the misunderstanding that leads into questioning. I suggest having all the records intact and available for that case.

But to avoid such a thing, I suggest you have your own capital. And in times you'll lose (as we can't neglect it to happen), you can't be blamed either.

AniviaBtc

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Quote from: Wexnident on July 10, 2020, 01:43:31 AM

PS: if any newbies would like to use this guy as a medium to trade, I suggest not. Not saying that this guy is bad, but since he's trading using his friends' funds, there's nothing wrong with that since they know each other irl, but for those in the forum, you could only be said as internet friends, which is really just a friendly saying of strangers.

But don't lose the opportunity for you to grow in trading as you are just relying on other people.

My point here is that, you should be responsible about your assets as you are the one who earned that. I'm not against the OP, but are you thinking of the possibilities? It's okay if someone is so busy that he can't pay attention or don't have time for him to control his assets, that's understandable. But if you have that opportunity to learn trading, grab it!

Just like what you've said, if they are friends in real life, that's okay. But still friends can betray you, we never know, it depends on the situation if you really trust someone to handle and trade your assets.

jrrsparkles

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If you want to be a fund manager for someone's else money then it is always better to have their money in separate account then you won't get confusion with your profits and theirs.There are some tools available in the market to connect multiple exchange under one wallet but I am not sure about their trust level.

TitanGEL

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You can be called as a fund manager if you manage someone's fund and not yours. For those who want to become a fund manager, it requires a lot of knowledge about cryptocurrencies especially in trading. The risks are high because when you manage someone's fund, it can affect your emotions and decisions when it comes to trading. Using someone's fund is good if you do not have enough capital and you want to grow it but it is a bit risky because it is not your fund after all.

Renampun

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I once worked at a brokerage company and the broker manages customer money...
trading with other people's money is nothing new, but you must have good skills so that people who entrust their money to you are not disappointed and even sue you because of their loss. I personally do not believe you are able to manage other people's money for trading in crypto, jajajaja.

Blackrain13

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Quote from: emd023 on July 09, 2020, 12:05:10 PM

Hello. I've been quite successful so far in my trading endeavors. So much so that I've been offered a decent amount of money to trade with if I split the profits 50/50. I just have some questions on how I can go about doing this carefully.

How can I ensure that I am keeping track of when I am using their funds and when I am not? I guess I could always open a second trading account which would keep the funds separate, however, this would be a bit of a pain having to sign in and out of multiple accounts.

If I added the funds to my own account how can I keep track of profits? Could I calculate the percentage of what the newly added funds are compared to my current funds? And if I need to cash out or share profits in the future, I would take that percentage of my total funds and remove them?

For example, if I currently have $10,000 and am loaned $3,000, bringing me to $13,000, could I take the percentage of the loan (23%) and multiply it by my ending balance? So,if a year later, my ending balance is $37,245, would taking 23% of this balance ($8,566) provide me with the correct amount of funds? Then take the 50/50 split profit amount ($4,283) and send it back to the loaner? Does my math seem to add up?

Thanks.

Edit: Just so everyone knows, a close friend of mine has asked me to trade with some of their money. They have witnessed my trading and know that I am profitable. It is NOT a random person as others have suggested on this thread. Either way this does not matter and I would like to keep the discussion on topic.

Why you need to trade the money of your friend if you have your own? Try to educate your friend about trading so that they can trade o their own because you know that trading is too risky. 50/50 shares,what if you lose? What will your friend tell you? It's difficult to use the funds of others.

Topic: Trading using someone else's funds - page 7. (Read 1300 times)