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Here is the detailed trade statement from WON trader's personal Oanda account:
Nov 2007 - Apr 2008.
The following is the detailed statement from our own small test account at Oanda, which started in April 10 2008:
April 2008 - May 2008.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | |
| 2007 | 1.85%1 | 30.83%2,3 | ||||||||||
| 2008 | 10.65%3 | 3.54% | 8.50%3 | 31.08%2,3,4 | 14.52% | 3.1% | 1.89% |
1: only traded for 3 days: Nov 28-30, 2007.
2: The high numbers in these months are partly due to one or more high leverage trades.
3: There were deposit/withdrawals in these months, which were taken into consideration
4: Results from April 1-14 are from the trader's account, and from our test account thereafter
Low leverage will be used in the base account, consistent with what is seen in the test account statement above. A maximum of 3:1 leverage will be used. For example, in a $10K account trading GBP/JPY pair, the position size would only be 15K unit, because 15K GBP is approximately 30K USD, which is 3 times the account balance, hence 3:1 leverage (most traders call it 1.5:1 leverage incorrectly). If multiple pairs are traded, then the maximum leverage is split among the pairs. For example, in a $10K account, the trader can simultaneously have these positions: 10K EUR/USD (10K EUR is approximately 15K USD), 5K GBP/JPY (about 10K USD), 5K USD/CAD. The use of low leverage should result in low account volatility. The trader aims for less than 15% drawdown in the base account. In the future, the managed account will be available at other brokers and can be leveraged by 2X and 3X.
Click here for Oanda account opening instruction
It should be understood that currency trading on margin involves substantial levels of risk, and may not be suitable for all investors. The high degree of leverage can work for you as well as against you. Before deciding to engage in foreign currency exchange one should carefully consider one's investment objectives, level of experience, and risk appetite. There is always a relationship between high reward and high risk. Any type of market or trade speculation that can yield an unusually high return on investment is also subject to unusually high risk. Only discretionary funds should be placed at risk and anyone who does not have such funds should not participate in foreign currencies markets. Currency trading is not suitable for everyone.
Past performance is not indicative of future results, as returns may vary according to market conditions. This is not a solicitation to invest and you should carefully consider your financial situation as to the suitability to your situation prior to making any investment or entering into any transaction. If you have any doubts, we recommend seeking further advice from a qualified independent financial advisor. No representation is being made that participating in the suggested trading programs will necessarily lead to profit. Investors may incur a series of consecutive losses and substantial equity drawdowns that can deplete their funds before the occurrence of any meaningful profit accumulation.
HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED BY ANY PARTICULAR TRADING PROGRAM.
ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION, HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE ABILITY TO WITHSTAND LOSSES OR TO ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS.
RISK DISCLOSURE Trading foreign exchange carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts. DISCLAIMER All information provided by this website is the result of reasonable efforts to obtain reliable content from third parties believed to be accurate. However, there may be delays, omissions or inaccuracies in such information. We do not warrant the accuracy, timeliness, suitability, completeness, or relevance for a particular purpose of the information available through this website. The User's correspondence, transactions or other dealings with any Third Party available through this website are between the User and such Third Party. We do not monitor the correspondence between any Third Parties and Users and shall have no liability in relation to any dispute which the User may have with any Third Party. We do not endorse and are not responsible or liable for any content, advertising, products or other materials on or available from Third Parties. Past performance is not indicative of future results. This website does not provide information on accounts that trade currency futures or currency options. The content of this website is in no way a solicitation to invest in or buy/sell securities.
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