Managed Forex Accounts

Devrim down more, 30-40% again in 2X accounts for June if he still holds the same position overnight, as the market continues to go against the positions. Hate to think that Friday is another news day and more volatility is expected in the account. Really don't like seeing so much risk in a trade. Maybe it is time to stop loss for me. This account should not be leveraged. At 1X, the risk is ok, but the reward is a bit low relative to risk.

Only another small profitable trade in QFXMA since last update.

WON trades came back into profit, up about 3% at this time. We will see if it ends the month with a profit or loss with two more trading days. It will probably be moderate either way.

Labels: devrim, forex managed account, managed forex accounts, qfxma, WON

Devrim dropped more, with base leverage account down 12.5%, and 25% in 2X account for June. This is an ugly month for sure.

WON is down about 4.5% with positions still open. The trader still feels confident in his long term position.

QFXMA only had a small trade since last update and it was a tiny loss. Up 1.86% month to date in the base account.

Labels: devrim, forex managed account, managed forex accounts, qfxma, WON

Devrim off some today, back to 20% down in 2X account.

QFXMA closed the trade with a nice profit. Up 1.92% for the month in the base account, 5.76% in 3X account. He sometimes holds the trade after New York session close, but the trade rarely lasts more than 24 hours. The trader assured us that he will continue to strive for low drawdown.

WON is still holding, down 2.1% in June including open positions.

Labels: devrim, forex managed account, managed forex accounts, qfxma, WON

Devrim recovered quite a bit from his worst drawdown. The 2X accounts are still down about 17% in June (including a few percent floating loss in current open position), still a long way from full recovery but far better than 40%+ drawdown. The base account without additional leverage is more tolerable in its volatility, as we are looking at 20-25% historical maximum drawdown (the current one), with about the same range of potential net annual returns.

QFXMA had some trades in the past week. Down about 1% so far this month with a trade open right now.

WON is still holding his positions, floating down about 4.2% for June at the moment, it was down a few percent more at some point last week. I have talked to the trader to add more short term trades in the future, as I am not a big fan of long term trades, :)

Labels: devrim, forex managed account, managed forex accounts, qfxma, WON

I thought Devrim might take some time off first this month after eking out a small profit in May, but he jumped right back into the market. By the end of Friday, the account got into an unprecedented drawdown, 40% in the 2X DEV account. I really don't like this particular trade, holding a hefty position over the NFP announcement and then over the weekend. This really makes me nervous. Have to see how this resolves next week. With these big drawdowns, the risk/reward looks a lot worse now than it did before last November. It probably makes more sense for most people not leveraging this account from now on. The 2X account should be regarded as high risk.

This drawdown makes me appreciate the low leverage in WON account particularly. We work with the trader closely and actually hold LPOA over this managed account, so we have direct input on risk management and leverage usage. The positions went against us by a few hundred pips earlier in the week, and yet we were only floating down a few percent, thanks to the low leverage. We are now up 2.5% for June with the market swinging in our favor by the end of the week, with the positions still open.

QFXMA (previously QFX) had no trades this week.

Labels: devrim, forex managed account, managed forex accounts, qfxma, WON

Devrim did end the month with a small profit at PFG. 2X DEV account is up 0.91%. The account balance is actually slightly lower than that of last month end, simply because the April performance fee taken out is more than the profit this month. Nonetheless, it is another positive month, his twentieth in a row. I should mention that he was a bit more conservative at his own firm this month in terms of intra-month volatility and position size, and actually is carrying about 5% loss into June in the medium risk group. So depending on how you look at it (which broker), his winning streak can be considered ended too.

QFX trader came back from vacation and made a trade on Friday, a 1% loss in the base account. The base leverage account ended the month up 5.8%. We started 2X and 3X live tracking accounts on May 14, and they are up 2.55% and 3.82% respectively.

WON only traded lightly in the latter part of May because he moved to a new place. Trading activity should pick up some starting next week. The account made 14.52% profit in May, an exceptional month given the low leverage used. The target return is about 5% monthly. Holding couple of small open positions currently, down 0.6% on them.

I revoked POA on 007 after it had a good trade on Wednesday. What made me gave up on it is not the absolute magnitude of drawdown, but the fact that I don't see an upward trend of the equity curve (Jan 23 - May 29).

Quite a few traders on the radar screen, will see how things develop.

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