Met up for another coffee this morning – we opted for All Bar One, instead of Starbucks – much nicer ambience, more sophisticated layout and cheaper price – and they gave us two shot-glasses full of M&M’s!
Mr France is ready to go – we discussed the following:
- When he will trade – most likely 3 days a week (Tue-Thu)
- What markets he will trade – mostly forex, since they are the most accessible given his trading capital levels
- Trading parameters – overnight vs daytrading, position sizing – max 2% of trading account per position. Methodology for adding to positions. He will mostly be trading price action and technical patterns.
- Choice of broker (we did a quick bit of research on forexfactory and trade2win for reviews of brokers he was considering).
- Mr France has written himself a small set of trading rules to help him stay disciplined.
- How we will work together – looking to get together once a week for 1-2 hours to review the trading he has done. He will also forward me daily statements at the end of each day.