Managed Forex Accounts

Here is an update on the managed forex accounts that is way overdue, as I have been very busy.

ROV has seen modest gains after switching to longer term strategy: March +1.1%, April +0.39%, May up a nice 8.22%. My test account has been open for a little over a year by now. It is currently up about 11% overall for the entire period. Not too bad considering the drawdowns have been quite moderate.

WON entered some long term positions in March and held onto it for close to 2 months. During that period, we saw a maximum drawdown on open trades of a bit over 20%. The results for the past three months are: -9.2%, -0.9%, +16%. Gross profit is around 10% YTD before performance fee. I have said this before, that I am not a big fan of these long term trades. It could work if the leverage is reduced even more, but the swing is a bit too high for my taste as it is. I have communicated that to the trader.

We just launched a new program PSN at PFG on MT4 platform. This will be a day trading program with tight risk control. No overnight positions and the stop loss on each trade will be around 2% or less. We will have a web page for the program shortly, with our 7 month live records from Oanda.

Labels: forex managed account, managed forex accounts, psn, rov, WON

WON only traded for about a week, and ended the month up 2.38%. ROV only had one tiny trade, up 0.08%.

Labels: forex managed account, managed forex accounts, rove, WON

All the accounts are experiencing drawdown to some extent lately.

Devrim gave back most of the recovery gains since the big drawdown, with sizable open positions.

WON is down about 5% month to date, with open positions.

ROV is off 3.4% MTD. It has no open positions as it is a short term day trading strategy. The test account is still up 7.5% since May 11 start.

FSR is down 15% since starting a month ago.

QFXMA is down 0.8% with light trading.

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

Devrim had a bunch of good trades last week and the account recovered quite a bit, about 12% in 2X account, but still down about 20% from end of May equity level. The account will probably recover given more time. However, given the fact that the 2X account was down well over 50% at one point, it is too high risk because there is a saying something like "the largest drawdown is always the one that is yet to come". The base 1X account might be ok as part of diversified portfolio, although the risk/reward is a lot less favorable than we once thought.

WON finished July with 1.89% profit. It had about 4.2% realized profit and 2.3% floating loss on July 31.

ROV was up 2.09% in July. It was up more in the first half of the month and gave back some gains towards the end. Very good program as far as risk management goes.

QFXMA had a down month, with a loss of 1.75% in the base account, 5.25% in 3X account. Hope to see some good results from the new automated currency basket trading soon.

We started live tracking of a new automated day trading system FSR, which seems promising. Our test account is up about 2% since starting mid July. More on it later.

We no longer have 007 live tracking account after May drawdown. Heard it was flat in July.

Labels: 007, devrim, forex managed account, managed forex accounts, qfxma, rove, WON

Devrim recovered a bit , with only small positions open currently. Up 2.4% for the month in my 2X account, but still down over 30% from end of May level.

QFXMA had no new trades for the past 10 days or so, as the trader has been working on automating the strategy at PFG. That work is now done, I was told, and the accounts will be traded live using the new setup later this week after some initial testing using our own account. More currencies pairs will be traded to spread out the risk.

WON currently up 3.5% on the month. The volatility in the account has been pretty low this month, due to low leverage.

ROV is a day trading program with excellent risk management. The accounts are up 2.1% for July as of this writing.

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

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

DEV 2X managed account is now down less than 1% at the end of today. With three more days to go in May, I sure hope it can end the month in positive territory again.

Sentiment has been sitting near low point in drawdown for a long time. Will remove it from portfolio soon. It was not a disaster as far as drawdown goes, but it lasted too long and time is money.

No trade in QFX. Getting the web page ready for it.

WON up fraction of a percent. The trader will trade small $1K test accounts for up to 3 months before the $5K minimum kicks in.

007 hitting new lows for a few days in a row. Lost over 2% today. Peak-to-valley drawdown reached 18.7%, down 15.54% in May, and lost 12.39% overall since Jan 23, the start of the program at current broker. It was touted as low risk, low drawdown managed account, but it looks like we can slowly bleed to death this way. Ready to abandon ship with my test account.

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

Devrim has recovered most of the losses. 2X DEV account is still off about 3.3% for the month. The positions are still open so we need to wait till next week to see the final resolution. It gives me hope again that we might end the month with some profit after all. Maybe I should not be surprised after so many times.

QFX managed account up a bit today, over 0.3% in 1X account, 1% in 3X account. Need to work on the web page this long weekend in prepration to offer it at PFG.

WON had no trade. I think he won't trade much for the rest of the month while settling in his new place. He has way exceeded his profit target this month anyway.

007 trader is now off 13.4% in May. Peak-to-valley drawdown swelled to 16.7% now. Overall drawdown since Jan 23 start is 10.2%.

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

Devrim account recovered partially, nice to see the daily report. 2X DEV accounts are down only 6% or so for the month, a bit higher for those who joined while the account was up this month. We are not out of the woods yet, as there are still positions open with unrealized profits.

No trade in QFX and WON. We might need to rename QFX to something else as it might be confused with some existing program.

More loss for 007 managed account today, -2.6%. Peak to valley drawdown reached 14.25%. Down 10.9% in May, and a loss of 7.6% since start of the program on Jan 23. Care to see the daily equity curve? hm... just hit four more stop losses, down 3.8% more.

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

Devrim finished the week with a moderate drawdown. Equity is down about 1% on the month including open trades in 2X DEV account. I am not worried yet as he has two full weeks to pull out of it. He has done that many times before, but of course no guarantee he can do it every time. Let's see what next week brings.

WON started trading again. The open position has close to 1% unrealized profit. Test account is now available at Oanda. Contact us for past records and account opening information.

Couple of clients asked me about a new managed account that they read about called SELECT. One look at April trading report, and I am confident it was not from a real managed account.

QFX made some profit last week. It was down 3% in April, up 4.82% this month in the base leverage account. Like its low risk/drawdown. We split our master test account into 3 separate accounts, base account, as well as 2X and 3X accounts. That way, we can track the performance under different leverages separately. We will have account opening information soon.

007 lost all the profit since Jan 23 and more. Down about 1.5% after 3.7 months of trading at current broker. I am ready to pull the plug on the test account if I need it to test another account.

Have been working with a trader RGM for some time. He has been trying to control the loss to 2% for each trade since April 10. So it will be a low risk account as well if it works out. Past test account statement is here. Let's see how he performs in the next couple of months.

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

Devrim is holding a small position over the weekend. Equity is still up about 1.6% in 2X DEV account. Noticed Thursday that April performance fee was deducted from the accounts. I am going over the client accounts this weekend to make sure there are no obvious errors.

007 managed account had a good week, now up 2% in May. It is up 5.8% overall since Jan 23, much less than its performance prior to that. I think I know why that is the case.

QFX is up 1.3% overall, after one full month at the new broker PFG. Low drawdown as well as low profit so far, will continue testing.

WON had a great week. Working on a web page to put the trading records. Up 6% in a month (test started April 10) with very low leverage, 1.5:1 to 3:1. I wanted the trader to keep the leverage consistently low. Aggressive investors can always leverage it up 2X or 3X in the future to target higher returns, by taking on more risk.

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

Devrim finished April with 5.47% at PFG in 2X accounts. His profitable month streak is now at 19. No new trades at PFG since last update. He usually starts trading at his own firm first every month, where he made 1 trade, up 0.5% for medium risk group in May.

April was another down month for SEN, -4.02%. Up 1% this month.

QFX is about break even since April 10 at PFG. Its drawdowns are small,less than 5% in over 2 months of total testing period so far. Will test it longer. Old statement from a $25K account can be found here.

007 finished last month at 1.72% gain. Had two consecutive losing days in May, down 5.6%. Overall, it is down 2.1% since Jan 23, the start of managed account at current broker. Peak to valley drawdown is 9.2%. When I plotted the daily equity curve, it looks like random walk around zero line. Not impressed by the results so far although the drawdown was not excessive.

WON had a moderate drawdown of 5% after my small test account started because the trader changed his strategy to day trading. Now he is reverting to his old style of medium term, low leverage strategy. Test account is still down 2%.

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

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