[WorldTrader]

I echo the same feelings. Say very nicely, that you can't and don't want to trade his money. Tam's gave you some great reasons. You will be mentally worried on every trade, more so than usual. If it is a loss your friend will be mad. You will pull profits too quick and let your losses run...there goes the account.
Just not worth it. Have him look for a good managed fund with good results.

[cuttshot]

I have mixed feelings on this one. I do manage some funds for family members and it has gone just fine. You need to make sure your relationship could make it through a tough stretch of trading/losing money.

I understand some of the above comments on it being a bad idea. I guess it would all depend on who it's for. It it's someone that is going to hound you for daily results and freak out at a losing session then no it's not a good idea. If it's for someone that understands up front they need to be in for the long haul then I don't have a problem with it.

[atto]

I highly recommend against trading family and friend's money. You will stress your relationship, and you don't want that extra risk. Additionally, your trading will likely suffer. If you're that good, just give them some of your extra money .

[Ynos]

I have tried to talk him out of it for 3 months telling him horror stories but he is insistent and I get the sense that he thinks I am being selfish by not doing it already.

He originally wanted me to trade his 5k in my futures account which I refused, due to obvious reasons.

We are both 31, we have been friends since we were 18 and have been very close since college.

His former investment advisor lost him about 8k of his 10k which he had saved, he then moved on to investing for himself and lost a little more.

If I do it he will not bug me daily about it, this is something we talked about.

I was hoping there was some kind of account that could be set up where I place trades on his behalf but it is his account.

I would be swing trading stocks 2-6 week holding time usually.

[bathrobe]

Ynos,
I was in a similar situation trading futures though. He opened an account and I advised him on what to trade. This could be very easy swinging stocks I would think.

[cuttshot]

Ynos,

It sounds like he is aware of the risks in the market with the experience he has had. It's obviously your call so I wouldn't let us influence you too much. You know your relationship with him better than anyone. I made the decision to trade money for certain family members but have also turned other ones down because I have a different relationship with them.

If you are going to be swing trading stocks then you could just have him open the account and you advise him on what trades to take. This way you are seperate from the account just in case things go bad or something happens between the two of you.

This would not be difficult to do. You are not making trades that are as time sensitive as day trading would be. That would be my choice to start things off.

[SunTrader]

Lik BP's oil and the water of the Gulf of Mexico - a bad mix.