This is a short and to the point posting to let you all know that I just recently closed my FXCM Sentiment Aggressive managed forex account. The drawdown level is way too much than I can bear at this point. I’ve learned my lesson from the GalleonFX debacle I went through (total drawdown on that one was 60%). There is now I’m going to repeat the same mistake, so I set it upon myself to close whatever account if the drawdown reaches a max of 30%, which to me seems like a reasonable number.
So far 2008 has been a horrible year for this managed account offering.