Hi! I have been doing full-time trading for my own money for 2+ years now. I have been able to generate enough profit to maintain my living standard but not grow my equity in the long-run.
I am seeking for other opportunities outside trading currently, but I'd also like to consider business ideas that would either leverage my trading skills or somehow give me competitive edge because of my experience in investing/trading.
There seems to be many people here that offer managed-accounts for investors...so too few potential investors and too many money managers I guess. Besides my performance of around 25-30% annual gain with 10-15% DD would not attract investors here...although compared to typical mutual funds that would be outstanding performance :)
Mentoring would interest me, but I think it is hard to find local customers here (in Finland).
I would have to offer my mentoring online, and I guess there is already quite mature industry to attract customers, e.g. forex-brokers offer mentoring services also...I have followed ads from Van Tharp's trading coaching / courses, and I agree mostly what he's teaching. I don't have resources for making similar business as he though...I was thinking starting smaller, like paid newsletters, trading signals etc....it would have to include something that would differentiate it from other services though....
You could start with a website posting your results and trading philosophie etc.
That's what I am working on. After that, perhaps Live Forex Journal. If you've got no web page experience, you could use a site like yola.com, where you can set a good looking website without any knowledge in html or anything... Skype chat also has a moderation function where others can only read your posts, cannot write.
Chatroll is pretty cool, they will take care of all your the people that want to pay to get on your chat, makes it pretty easy.
Of course with a good and growing reputation on forex forums and with live statements shared, you will probably have no problems filling up a good trading room. Of course you would need to offer good price for entry.
Also, I am looking at Tradency and zipsignal. Tradency is terrible for me, because you cannot change your SL or TP on a position once it is set, and all my strategies require constant modification in SL and TP... I found kind of strange they have this restriction, considering all the ea's you can find.. Their manual trading platform is terrible also.
Hi Keltnermaster! You have good ideas. I've seen number of web-sites/blogs etc. but it would be encouraging to personally know someone who runs a paid service, and also get a rough figure of earning from that service...Do you know anyone?
I am currently not so active in trading, because I have a new consulting business set-up (which does technology consulting), and I am negotiating new deals currently, and also been offered a full-time job...
I know I can't let trading-business go away though. I have watched markets daily for 10 years or so...At least I'll trade long-term positions and try to work to enhance my methods.
I think some kind of 'peer-review' would be beneficial to traders. I stop my own mistakes too late or never, but I would be able to critisize others trading plans/journals etc...I don't know if that could be a paid service, but would be very useful tool to traders IMHO.
WARNUNG VOR HOHEM RISIKO: Der Devisenhandel birgt ein hohes Risiko, das möglicherweise nicht für alle Anleger geeignet ist.
Der Einsatz von Leverage schafft zusätzliches Risiko und Verlustgefahr. Bevor Sie sich für den Devisenhandel entscheiden, sollten Sie Ihre Anlageziele, Ihr Erfahrungsniveau und Ihre Risikotoleranz sorgfältig prüfen.
Sie könnten Ihre ursprüngliche Investition teilweise oder ganz verlieren. Investieren Sie kein Geld, das Sie sich nicht leisten können, zu verlieren. Informieren Sie sich über die mit dem Devisenhandel verbundenen Risiken und lassen Sie sich von einem unabhängigen Finanz- oder Steuerberater beraten, wenn Sie Fragen haben.
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