great idea....will only work for u guys if there is total control and u know who your members are....if u placing your trade ideas opening here on forum ....u know what can happen ...so there should be rules placed in into agreement and must be controlled and enforced if neccessary.all the luck ahead for your idea...maybe seq could assist u with setting up the neccessarry.god bless all
OK , so where to now - SFM opens a common shared trading account and we each put in 10K no more no less ? . I suppose we then discuss our options decide what to do - We could open a new thread each time before we trade and use that thread to cast our votes. Will we trade SSF's warrants or maybe alteX small caps even could just buy ordinary stock - maybe a split 60% ordinary shares , 20% alteX , 10% SSF's and warrants. We need to agree on a time frame. 6 months ? 1 year ? Who will do the actuall buy and sell Account value at the start could be 10,000 x 50 participants = R 500,000 > What say folks ? omo . Standard Financial Markets - your input please .
SFM can not open a common, shared, joined or what ever account (regulation issues etc.). What you'd all have to do is form a legal partnership, cc, pty or something (we can only open accounts for legal entities or single individuals) and then open a bank account then a SFM trading account and deposit money. And be warned partnerships are nasty beasts, cc or pty always better.
Simon I think some may have got the wrong end of the stick - the idea was never to open a joint acoount...I would never ever trade with someone else's money. The idea was just to observe trades as they happened and give some input. Of course individuals may want to copy the trades which I dont recommend but if that part of your system (to copy trades I mean) thats fine.
on the point of the blog - I will update this every evening - its up but not very intersting at the mo... Trade on Dow didnt live up to expectations - resistance at 12717 tested 3 times and failed - stopped out with a small profit....my BP/JPY trade has triggered a buy so lets see what happens today - no warrant plays on JSE today - market lacks direction...