Managed Forex Accounts

DEV is at new high, it is nice to see after the previous draw down. It still keeps a small open position with some unrealized profit. My account is up 13.1% since Oct 9.

There was a nice jump in SEN for the past two days, the account is up 15.1% since Oct 23. Got confirmation from FXCM that clients can keep account in EUR and JPY in addition to USD. That is a good option for clients who are concerned about the devaluation of USD. We are getting our special version of Letter of Direction for those two currencies with lowered management fee.

I am on slow temporary dial-up connection while on international travel, so I will keep updates brief.

When I checked DEV broker backoffice earlier today, I saw account balance dropped quite a bit, and all my previous profits were gone and then some! I was thinking, oh no,not another drawdown in this managed account, that makes it three in a month. Not cool! I was wondering how that can be because the open position he had on barely had any movements during the day. That basically ruined my day.....until when I finally got the broker statement. The whole "drawdown" was an error in fee accounting! I am sure the broker will correct it shortly after I alerted them.

Just peeked at SEN account, it is up a bit, 8.9% profit since Oct 23. One client observed that most of the recent losing trades in this managed account came from EUR/AUD pair. I choose not to sweat the details of these trades as long as the account sticks to good money management and let the system run its course.

LEO signed my LPOA today, so he is ready to start Dec 1. Looking forward to this new managed forex account very much.

Through Wednesday and Thursday, DEV closed with 4.5% more losses and carried a significant open position over Thanksgiving with some unrealized losses as well. On Friday, it made another come back, recouped much of the previous losses. He continues to carry some position over the weekend with over 1% unrealized profit. The account is up 8.1% since Oct 9. Still has a few more percent to go to reach new high. Let's see how he ends this month with one more week left. Whatever he does, please don't give me another draw down, LOL. I really miss the way he used to trade at the previous broker. It was sniper like, hit and run. I barely noticed any open position in my account most of the time.

SEN is down a little more, I have 7.1% profit left in the account after a full month of trading. I like the relatively low volatility of this account and significantly increased my investment in this accounts since last week.

LEO is almost ready to go with our test accounts. I am quite excited about that. He has worked hard on limiting draw downs and they have been small since Sept. I was told he is up 9% so far in November.

DEV took a realized loss of almost 4% today, with about the same amount unrealized at the time of this writing. The unrealized loss would fluctuate with market quite a bit, since the position size has built up. This one came too close in time after the last drawdown, so I don't feel too comfortable about it. In my limited time observing his trading at the current broker, it seems to be somewhat different from his usual trading at the previous broker. The initial leverage used is smaller than before, and he takes small losses some times, which is a good thing. On the other hand, he seems to get into draw down more frequently, although he recovered from last one very quickly. By the way, he does continue to trade the same way that he used to, at a (non-NFA registered) broker where he is part owner.

Sentiment Aggressive dropped slightly, up 9% overall.

I have invested in a managed account "Carvit" since April. It got into a huge drawdown. I revoked the LPOA after losing 1/3 of initial deposit, after being up over 50% at one point. Very volatile, bad money management. Another managed account that I have watched since late last year is "Bull Trading". Good thing I never invested in it, because it is also in a big draw down now. The trader was reluctant to take any loss, so he often "hedges" a losing position. However, almost every time he "un-hedges" it, the open draw down grows bigger. So the open draw down just slowly snowballs over months.

DEV closed about 1% in losses on Friday, and carries a small open position over the weekend. Account is at 10.7% profit overall. We shall see how it resolves on Monday.

SEN recovered some from the drawdown, account profit is back up to 9.8%.

Another exciting new development is that we are talking to another experienced local forex trader. He agreed to start a test account for us at EFX. We expect to start offering his managed forex account service to our clients in a few months. The code name for this managed account will be KAN. I sent a check to MBTrading (the FCM behind EFX) last week to fund my account so that it will be traded by either LEO or KAN, whichever is ready first.

DEV is up close to 0.5% on Wednesday, after taking the first two days off in the week. Finally, we got a sizable pull back in SEN account. It is up 8.3% at this writing, off from the peak of more than 14% profit.

We have taken AKM off the featured list recently, although we have already directed new clients away from it for the past few months. His large drawdown and the lack of good money management in this situation makes it too risky. Very disappointed in this one.

After a few days of small movements, my SEN account shot up a few percent today, up 13.9% now. I am so impressed that I moved two IRA accounts into this fund today.

DEV is taking a break so far this week, after some hectic trading last week.

Here are the monthly numbers of the personal account for the new trader we are introducing soon (about two months from now):

Feb 62.18%
Mar 19.25%
Apr 10.88%
May 3.05%
Jun 16.47%
Jul 11.46%
Aug 40.40%
Sep 42.40%
Oct 2.56%

Avg 23.18%

The largest intra-month drawdown was at the end of May, about 22%, when he gave back most of the gains for the month.

We will give this one a code name "LEO" for future reference.

DEV ended the week with a nice profit, closing out the last small position of USD/CAD for almost 2% gain on Friday. My 2X account is up 11.4% after a full month of trading.

SEN retreated slightly from high, sits at 11.1% profit.

We were informed by FXCM today that Sentiment Funds minimum will be $5000 effective on December 1, due to its overwhelming popularity after 4 consecutive months of strong performance. My SEN account stands at 11.8% profit as of this writing, after only two weeks of trading.

DEV is up about 1.5% today. My account is only 1% off its peak set on Nov 1.

AKM down more, I don't think I even want to talk about it for a while.

With a big bounce in USD/CAD, DEV recovered fully from yesterday's draw down and then some. The account is only 2% from high. My account is up about 8%. I hope we don't see this kind of wild ride too often, even though it ended well this time.

October fees are deducted from SEN account today, and it is still up 10%.

AKM hovers around its low.

DEV got hit big last couple of days. It was down over 16% from the peak according to yesterday's statement (at 2X), ouch. I am anxious to see what the trader did after yesterday's NY close, but the online viewer won't update the trades until late afternoon so the draw down might be larger or smaller today. This is especially painful for the new accounts that did not benefit from previous gains and got hit right away. I have seen open draw downs from him up to 15% before, he was able to recover fairly quickly. We will see how he manages this one. I have lowered my expectation this month to end with a small draw down or break even. This serves as another reminder that trading involves real risks, even for a trader with an amazingly consistent track record.

My SEN account was up 7.2% as of yesterday's close, up to 10% now with floating profit, wow. I am very impressed to say the least.

AKM is down again to new low. He has been out of sync with the market much of this year, period.

My account for the new trader is opened, will be funding it soon.

My SEN account is up 6.3% as of Friday's close. Compounded NET return after deducting 20% performance fee over the last 4 months is more than 40%, impressive indeed. Maximum intra month draw down is slightly over 10%. Very good risk/reward.

DEV took close to 2% loss in my account Friday. Account is still up 5.7%, since Oct 9.

AKM is down 4% in November.

My SEN account is now up 5.6%, another strong day. Official October performance from the broker is 10.94%. It would translate to 11.02% for our clients with lower management fee. It is hard to believe that a broker could come up with a fund as good as this one.

As I expected, DEV recovered all the open draw down from yesterday. Equity reached new high with open profits, account up about 10% since open. A few client accounts got lucky and were added to the master account during the draw down at a good price, up quite a lot today.

AKM dropped more, down 8.1% on the first day of the month.