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  1. #1
    Rookie Member gkb100's Avatar

    How do you manage/trade other peoples money???? Help required !!!

    Hello everyone. It's been a while since I've messaged in this group. I hope you're all doing well and gaining knowledge and profit? I came to this group with little knowledge of Binary Options but I was determined to learn and that's how I discovered this group. I've still got a long way to go but I'm happy with my progress. I have finally come up with a profitable system which has been back tested and has been forward tested for the past 3 months. My system includes a combination of indicators to produce trading signals, technical analysis to filter out the worst signals, a reliable pattern that I discovered which says there is a winning trade in 4 candles (I take 1 hour expiries). Because of the reliable pattern I comfortably use martingale to catch the winning hourly candle. The pattern appears roughly 93% of the time that's why I use Technical Analysis to avoid poor signals and Martingale to catch the winning candle i.e. at the very least 1 winning candle in 4. I set up a small whattsapp group which has grown to 57 members all taking my signals. I'm now getting enquiries from members of my whattsapp group to manage their funds but I don't know how to best go about this? Any suggestions? Is it a simple case of a client opens a binary account with a broker and just gives me his login details and I trade as if I were the account holder and the broker is non the wiser or does the client deposit money into my account and I then open a broker account and use that money to trade? How does this whole thing work?

  2. #2
    Legendry Member Okane's Avatar
    Just sell your signals via SignalPush or whatever their name is.
    Anything else is impossible. You can't manually place many signals with different brokers all at once...

    Signalpush - That's a platform specially made for this kind of stuff.
    Of course, they are not going to just let you in because "you have a system that says there is a winning trade"
    and you must actually show that you can withhold a certain win rate through their platform.
    But since it's going so well it shouldn't be a problem for you so check it out and confirm your signals.
    They can also help you regarding fees. So you can charge basically whatever you wish and
    will probably attract more clients too.
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  3. #3
    Administrator Martin Kay's Avatar
    man what's up with the big font?? I've edited your post and made it smaller.. please use normal size
    “Don't believe anything you read on the net. Except this. Well, including this, I suppose.” ― Douglas Adams

  4. #4
    Legendry Member Michael Hodges's Avatar
    Just a suggestion, but you may want to do a little due diligence into laws and requirements for handling other peoples trading money, in their country and yours. It may not matter to you, but I see liability in what you say, and in the regulatory environment we're in I'd be worried about that.

  5. #5
    Moderator Kolyo's Avatar
    In terms of binary options managed accounts I don’t think there is something to be done. In forex trading there are some solutions for managed accounts with some brokers, but in binary options there aren’t. I don’t think it is a wise idea to manage tens of accounts one by one, this won’t work. Maybe the option proposed by Okane is good, but it may require proving your strategy! If I have to give funds to somebody to manage, which I won’t do anyway, I will never give them to somebody who use martingale This is just an advise.

    Also don’t you think guys this whole thread is for the business room?
    "The goal of a successful trader is to make the best trades. Money is secondary." - Alexander Elder

  6. #6
    Legendry Member Michael Hodges's Avatar
    usiness room... maybe if there was already a business?... this is asking about the possibilities of a business, related but not neccesarily the same. . . but should probably go there as it may attract potential clients "cough cough cough hack suckers hack cough cough

  7. #7
    Legendry Member willyw's Avatar
    I fully agreed with what Okane and Micheal says.
    BTW are you an experienced fund manger or have you work as a fund manger? Are you regulated?
    It's not so simple as someone deposit money into your account to trade or they give you their login details and you trade their accounts!!!!!

    ***This comments are not BS but from an experienced retired fund manager

  8. #8
    Veteran Member Dan21's Avatar
    You need to have a very good reputation for someone to come to you so you can start your business. Personally, if I wanted such a service, I'd search for someone with proven success and not in the range of just few weeks, but at least an year of constant profit.

  9. #9
    Legendry Member willyw's Avatar
    Quote Originally Posted by Dan21 View Post
    You need to have a very good reputation for someone to come to you so you can start your business. Personally, if I wanted such a service, I'd search for someone with proven success and not in the range of just few weeks, but at least an year of constant profit.
    You are correct, Dan

  10. #10
    Junior Member BinaryScamSniffer's Avatar
    There are two reasons of utmost importance why trading from someone else`s account for a profit is extremely dangerous and against law.
    First of all, legally every activity done for a compensation must be imposed even if the remunerator is your WhatsApp friend. To put it simple, the services that you offer have to be legalized and charged a state fee as you are literally a one person company, but analogical to a brokerage firm. Otherwise, you risk to go against law and have to accept the fatal risk it entails.
    Nevertheless, an even more considerable hurdle is the fact that your acquaintances might end up being disappointed as you cannot ensure a 100% yield. It resembles margin trading, you risk to lose the funds that you don't even own. However, they could even go further and sue you , having enough evidences against your activity. You are probably already familiar with this feature from facebook, whenever somebody signs up in your account from a different computer you receive a notification or an email letter. As you have no official contract and cannot prove your collaboration you can be suspected of account hacking. Furthermore, The US Congress founded The Securities and Exchange Commission (SEC), which is a body obliged to defend investor`s rights and funds and they could report you here as well.
    A rational and legal alternative is becoming a discretionary authority by getting all the licenses required. You will have to start your own hedge fund. From this point, there are various certifications depending on some further details such as: are you going to be the only discretionary authority or will share the power, what happens to the uninvested funds, cash account or margin account and so on. I recommend to check the certifications offered by SEC if you are an US resident or find an analogous body in your country otherwise.
    Finally, managing your own money can take unexpected shifts, but trading using a strangers` funds is extremely risky and unpredictable as in trading there are no friends.

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