1.  Past performance - 9.85% return this month in my personal account.  In my other trading activities I made 2.5% in July and 2.6% in August.  As a trader my first priority is to manage risk, so I only enter trades with the exit already located and sufficient liquidity in the market.

2.  The mimic part is run through a program created by a prominent developer in the bitcoin community.  Basically the software gets an account balance of all the individuals who are participating in the program and lets me know how much bitcoin or USD I'm trading.  When I enter a trade, it divides the quantity I am trading out to all the accounts which are participating based on a percentage ownership. 

Example - I have 3 customers.  Two customers have 10 bitcoin, and one has 100 bitcoin for a total of 120 bitcoin under management.  I enter a trade to sell 60 bitcoin.  The first two customers with 10 bitcoin each have an 8.33% stake while the large customer has an 83.33% stake.  My order is divided proportionately so the two customers each sell 5 bitcoin while the larger customer sells 50 bitcoin.  The percent gain or loss I make on this trade will be mimicked across every account.

3.  The control you give me is that I can read the information about your account and I can trade your account.  You are allowed to deposit and withdraw exclusively from your account.  The only change in BTC in your account should be from you or from trading.  This is YOUR account, not mine.  I will just request a fee for any profit I generate on a high watermark which you will voluntarily send me.