Managed Forex Accounts

Devrim surprised me again with more trades today, made close to 0.7% in 2X account. So he is up almost 5.5% on the month.

Sentiment Aggressive dropped a bit more, down 5% in April. It is really struggling to get out of the current drawdown.

QFX had no trade. The trader agreed to lower the commission.

WON lost(pun intended, lol). Test account is down 3%.

Another bad day for 007, lost about 3.8%. Down 1.8% in April, up only fraction of a percent since Jan 23.

Labels: 007, devrim, forex managed account, managed forex accounts, QFX, Sentiment, WON

Just when I thought the storm was over and it would be all smooth sailing for the rest of the month, Devrim got into another drawdown (about 12% in 2X account), but he ended up with a profit at the end of the week yet again. The 2X DEV account is up 4.8% for April. There is a high probability that he might not trade again this month, but I was wrong with such predictions before, so have to wait and see, lol.

QFX has been trading very conservatively, up about 1%. Hardly any drawdown at all, I like it so far. I am a little concerned that the commission might be eating up too much profit, so talking to the trader to lower the commission. Expect to have this one ready in couple of weeks.

007 partly recovered, up 2.2% or so for April. Up 4.2% overall since Jan 23, before 25% annual performance fee.

WON test account is back to even. It is a conservative account, so volatility should be low.

Labels: 007, devrim, forex managed account, managed forex accounts, QFX, WON

Dev is up more today. It is positive now month to date, about 1%. Has a small position on at the end of the day. He is amazing. I admit sometimes I am a bit scared during the drawdowns when the account has a pretty hefty leverage buildup, but it is good to see that he takes losses now more readily than ever.

007 down 3% today, lost all profit from Jan 23 to date.

QFX had a break even day but down a bit after commissions.

The trader forgot to trade my $100 WON account today, only traded his own account, lol. So I missed another 1% gain with low leverage. I do have statement from his account. The problem will be solved tomorrow when his account also goes into the "Fxmanager", Oanda's own incarnation of PAMM software. He traded aggressively in his own account this month, up well over 40% month to date. But he is more comfortable using low leverage trading other accounts.

Labels: 007, devrim, forex managed account, managed forex accounts, QFX, Sentiment, WON

It has become a cliche, but yes, Devrim did it again. Devrim managed account at PFG pulled out of the drawdown and is down less than 1% for the month now. Still has a position on over the weekend with some unrealized profit. It looks like that he will probably continue his winning streak again this month.

SEN is down 2.5% in April.

QFX traded for couple of days, made small profit. Found out that the commission was not applied correctly, working with the broker to set it straight.

007 is up 0.6% month to date. Up 2.6% overall since Jan 23.

My tiny test account at Oanda for the trader I talked about in the last blog started trading. He put on a 150 unit position in a $98 account, up 2.3% in a day with this low leverage catching the drop in gbp/jpy. Most traders call this a 1.5:1 leverage, that is incorrect. In reality, it is 3:1 since 1 GBP is roughly 2 USD. Still thinking of a name for this one, I will call it "WON" for now.

Labels: devrim, forex managed account, managed forex accounts

Devrim managed account gave back the gains from last couple of days with a 7% loss on closed trades today, now down 9-10% in 2X accounts for April. It never feels good during a drawdown, but I remind myself that he has had larger intra month drawdowns before and came back to profitable months. With three weeks still left in April, I have no reason to doubt that he could do it again, although nothing is guaranteed in trading.

Sentiment is down couple of percent, very low volatility this month so far.

QFX still has no trade in the account yet, but everything is setup and ready.

007 had its largest single day loss today about 5%. Almost flat now for April, only 0.5% profit left.

Have been working with a young trader in Asia for couple of months now, chatting almost daily on YM. He shows a lot of promise, although he has no prior experience as money manager. He told me he has known a few dozen forex traders over the last few years, and he is the only guy surviving the learning curve. His key to survival was low leverage. I have seen 4 months of results from a small account at Oanda. It is not enough to make a final judgment, but I feel quite confident about him. He seems capable of producing consistent returns with low leverage. I setup Fxmanager account at Oanda for him, so that he can trade my small test account along with his own.

Labels: devrim, forex managed account, managed forex accounts

Devrim had a rough start in April. The 2X account was down over 8% last week. The drawdown was reduced to 3.5% today on closed trades, but there is a new open position. Let's see how it plays out tomorrow. Noticed that the performance fee for March was deducted today.

There is hardly any movement in the Sentiment account.

QFX will start any time now.

007 finished March with a moderate 2.3% drawdown. It has done very well so far in April, up 5.5%. The overall gain reached 7.7% (gross of 25% annual performance fee) for the first account that started trading on Jan. 23 at the current broker. I like its low daily volatility and strict day trading approach. With its current fee structure, I am expecting 3% a month on average before performance fee. If the trader can achieve more, even better.

Labels: devrim, forex managed account, managed forex accounts