Category Archives: Managed Accounts

managed accounts

FX Managed Account – 716% Return in 14 Months [CPA AUDIT INCLUDED]

Dear Investor:

I’d
like to share with you our new Private Fund that combines 3 excellent
traders into one fund of highly impressive, aggressive Forex returns…
 
It is a new PRIVATE Invitation available to any traders outside the U.S (Due to regulatory measures)…

The group of traders have achieved a combined 716% return in the last 14 months…
 

The
fund is referred to as a "Private Super Fund" because we have selected a group
of STRONG traders after raising capital for several dozen traders over
the years. They have a very reasonable minimum starting capital, and
your funds are LOCKED in a LPOA Broker account, you do not transfer a dime to the traders themselves…
 
To obtain the VERIFIED PERFORMANCE (AUDIT) RECORDS/TRADES,
discuss with us via email or phone, and inquire about opening an
account with this private group, please visit the following link…
 
 

Private
opportunities like this are something I personally find very rare as
90% of Forex sites are robots or bogus traders with no performance
record or serious established business!
 
Don’t pass this one up if you are eligible!…

Skype ID: (Please Visit Private Invitation Link)
E-Mail: (Please Visit Private Invitation Link)
Phone: (Please Visit Private Invitation Link)

PrivateForexAccount.com

Legally Required Disclaimer: Past
performance is not necessarily indicative of future results. Futures
and options on futures trading is speculative, involves substantial risk
and is not suitable for all investors. consider the suitability of Forex/Futures trading before making any investment decision.

GalleonFX Is Back In Action

galleonfx_logo.jpg

Greetings. I appears that after that beating they took last year, GalleonFX have gotten up, dusted themselves, and are ready to being trading again. Personally I am not ready to trust them again so I won’t be reopening my account with them. Of course though I’m not telling you what to do – make up  your own mind. Anyways, here an the e-mail news release from GalleonFX staff:

As we entered the summer months of 2008 and the currency markets became increasingly unusual from previous years of live trading, as well as different from situations we have back tested on Galleon’s trading systems, it was becoming increasingly difficult to steer a safe course through the impending storm.

As a few back to back negative trading months came upon us, and sensing a crazy turn in the currency markets in the fall of 08, we chose to play it safe, and stop trading client accounts in August 2008 to protect the majority of client equity while we watched the drama unfold from the sidelines.

And sure enough the banking crisis of Oct 2008 unfolded itself upon the financial world like tsunami. The world financial indexes, along with the world commodities and world currencies, fell like a rock 25-50% from August to the end of year, wiping out all the gains these markets had made since 2003. Other unusual situations arose as we watched positive overnight interest on open FX positions turn negative. Normally interest is usually paid to FX traders holding overnight positions on long trades against the Dollar, Franc, and Yen, but these traditional interest bearing trades (“carry trades”) became negative as banks tried to hedge their own risk when the currency markets became more volatile than ever before. Banks and brokers also widened their spreads considerably on all the pairs to further offset their risk, and so traders were faced with the double handicap of negative overnight interest and increased spread, not to mention the crazy volatility and unexpected fall of all the markets.

Over the next 4 months we have conducted a greater analysis of the last 10 years of market conditions, including the last year, in order to see what could be improved, created, discarded for inclusion in a far stronger managed fund. The result of our research is a more powerful and evolved fund that we now call Golden Hind-FX. It produces greater returns with lower risk than any previous system we had developed. Back testing for 2008 shows all positive months. Live forward testing shows very encouraging results as well with Golden Hind-FX now having 2 months of live trading with our own company funds.

From our research, back testing and live trading we have completed to this point, we now feel confident to commence trading for our current clients and open the fund to new clients starting in February 2009. If you are interested in learning more about the specifics of what makes the Golden Hind-FX system so powerful and unique you can find more details on our website.

New clients must follow the account opening procedures as outlined on the GalleonFX website.

Clients that had actively trading accounts at the time we stopped trading need do nothing if you want trading to continue again. If you wish to not have trading reactivated on your account or wish to withdraw funds you must contact www.fxcm.com directly to arrange for withdrawal or transfer of funds. Current clients with funded accounts wishing to NOT trade again can speed the movement of funds OUT of their trading account by using this transfer form provided by FXCM. ( http://www.fxcm.com/docs_pdfs/transfer_form.pdf)

IMPORTANT

Bear in mind that if your previous GalleonFX managed account had been in a draw down, it is in your best interest to maintain the same account and account number. This way you will not be charged performance fees until your account reaches net NEW highs and all losses are recovered.

If we were to have people open new accounts or transfer funds into another master trading account previous clients would not have this opportunity to recover from such their own draw down with no additional fees.

For all the reasons stated above, we are reinstating trading on all client trading accounts that still have funds and are under an active LPOA. If as a client, you have not revoked the Limited Power of Attorney which authorized Galleon to trade your account and want to continue trading, you need do nothing. Your account will continue trading again in February.

For those that transferred funds or requested FXCM stop trading the account, or closed your account, you will have to contact Galleon or FXCM to work out the details.

Though some economic forecasts do not paint a rosy picture for 2009, finding the right opportunities in forex can put you on top. We believe Galleon’s new Golden Hind-FX fund will be the place to be in 2009. We encourage you to read more about this new fund and get involved now.

Kind Regards,

Galleon Staff

Goodbye FXCM Sentiment Aggressive

fxcm logo

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.

I also made a posting at my other blog over here.

GalleonFX – News Updates and Going Forward

It’s been a while since I closed my GalleonFX managed forex account, but once in a while I still visit their website out of curiosity to see how they’re performing. I was greeted with yet another huge drawdown figure. Check this out:

July 2008
EUR -24.8%
USD -24.0%
gross returns

Ouch!

Here is how GalleonFX staff rationalize yet another huge drawdown month.

Despite the very poor performance our fund has experienced this year, our fund is not going to go under. We have experienced a heavy drawdown,that is for sure, but it is due to the extended range-bound behavior of the market. We do not think it should last much longer, these things never do, and when the markets break, then we are poised to make a dramatic comeback.
That being said, We have developed an important update on all breakout related strategies to prevent them from falling prey to future range-bound periods. Breakout strategies are the ones that attempt to break out of the market’s predefined market ranges. Our breakout strategies attempted to break out of their long held ranges this July, but the ranges held firm, and the strategies were punished for their attempt, many hitting their stop losses when the markets reversed direction. This was the cause of July’s particular draw down. But now we have outfitted all these breakout strategies with an important exit, which we call a “Bailout Exit,” which forces them to exit the market when it is determined after X number of bars from entry that the ranges are still firm and not broken. This means that they will bailout of the market with a minor loss closer to entry (20-60 pips loss), instead of the full stop loss damage 170 pips from entry. If we had this exit in place, our draw down for July would have been significantly lower, as well as lower for many months in his past, without interfering with performance.
Galleon system developers and staff here at Galleon have a large amount of our own money in the fund at the moment. It accounts for about 25% of the fund’s equity size, and we are determined to keep it there to ride to take advantage of the inevitable come-back. The markets should breakout of their ranges any day or week now, and we are still poised to take advantage of that. And if the ranges still hold firm our bailout exits will prevent us from taking hard losses from the attempt to break out of them.

FXCM Dynamic Multi-Strategy Program

fxcm_logo.gif

Greetings fellow Forex traders. Today I’m going to introduce you to FXCM’s Dynamic Multi-Strategy Managed Forex Account. FXCM describes this managed account as such:

“The Dynamic Multi-Strategy Program takes an active approach to managing the multiple components contained within its portfolio. By constantly evaluating market conditions to determine which components would have an above average chance of doing well during such conditions it is able to dynamically allocate weightings between these components with the aim of achieving a more robust result.”

Yadda, yadda, yadda. Basically what all that verbiage says is that this managed account employs multiple strategies.

Folks, keep in mind that this managed account offering is very young and as such I think FXCM is still working on tuning their strategies. I believe the performance results illustrate this point, so let’s have a look at them:

Performance  
     
 
  3-Month -7.35%  
 
  6-Month 0.00%  
 
  Year to Date -7.35%  
 
  Analysis  
     
 
  Avg Monthly Return -2.48%  
 
  Max Equity Drawdown -7.60%  
 
  Monthly Std Deviation 3.06%  

Not too impressive, eh? Thought so. Seeing as this managed account has been trading for only 3 months I’d say FXCM has some fine tuning and a few kinks to iron out. Here are the results for those 3 months (all for 2008):

Apr -1.73%
May 0.13%
June -5.84%

Now you’re probably thinking, man, those performance numbers are garbage. Well, you’re right! Thus, my recommendation on this one is to keep a close eye on it but to NOT jump in just yet. Wait a few more months (4-6) and see if the performance improves. By improves I mean if the managed account shows consistently profitable results month after month. Also keep in mind this managed account carries a HIGH RISK level so only invest disposable income. But you’re all wise investors no doubt so I shouldn’t tell you this, right? 😉

I’ll try to keep an eye on this managed account and will update you all on how its performance progresses.

More details about this managed account can be found here:

http://www.fxcm.com/managed-accounts/managed-accounts-programs.jsp

Happy investing everyone!

Cheers,

Alan

GalleonFX Loses Once Again

galleonfx_not.jpg

GalleonFX managed to score another loss yet again. As you can see from the performance results below June 2008 is a losing month for GalleonFX.

June 2008
EUR -1.32%
USD -1.53%
gross returns

I closed my Galleon FX account last month so I just want to let you folks know that I will no longer be reporting about anything GalleonFX related. Nor will I EVER consider opening a managed account with them again. In my eyes GalleonFX’s performance lately can only be described as garbage. Want proof? Take a look at this:

01/08 -32% -33%
02/08 +9.0% +16.8%
03/08 +1.2% +1.0%
04/08 -29.0% -27.4%
05/08 -9.17% -8.95%
06/08 -1.53% -1.32%

-33%! 27.4! This is simply unacceptable.

I wish those of you still on board this sinking Galleon the best of luck.