Managed Forex Accounts

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