Hello everyone. I just added a new managed forex account to my portfolio. This MA is ran by a gentleman by the name Andrew Vorobyov, who is the owner of VAGroup Asset Management (you can find his contact details here). Now let me first give you some info about the trader:
My name is Andrew Vorobyov (26, married).
I started to trade on stock market when I was 19 years old. For 6 years of my trading I was in different situations. At the 1st month of trading I did 1000% on FOREX market but by the end of the next month I lost my first deposit.
Another 3 years I spent in loosing more money and analyzing why this was happening to me. Finally I came to this point where I had begun to understand how to make profits on the stock markets. Now I have set of rules that help me during 2 years to earn money.
I was managing $700K account during last 2 years with my partners before I decided to open my own fund and trade according to my trading style only. You can take a look at 2006-2007 statements at http://statement.vagroup.net
Because my fund is new my income from trading is still less then my salary and I plan to attract investors so I can do trading only (I don’t mean trading 24/7, right now I spend 2 hours a day for FOREX trading).
My biggest trading belief is that it’s better to earn $1M earning 10% with $10M, rather then to try earning 1000% with $100K.
Andrew has two fund that he’s currently trading: The “Monolith” Fund, and the “Dynamix” Fund.
Trading style for “Monolith” account:
“Monolith” account is planned to have less exposure and therefore is less profitable. If you are conservative investor and enjoy slow growth of you net worth this account is for you.
* It has protective 1:20 leverage.
* I trade trends only on this account.
* Averaging of losing position is prohibited.
* Averaging of the winning position is minimal.
The target return for “Monolith” is around 35-50% per year and maximum account drawdown is set to 15%, it means if account will face 15% loss I will close it.
Trading style for “Dynamix” account:
“Dynamix” is more active account and its purpose to profit from all market situations.
* Leverage is 1:50
* Always in-market position
* Averaging of losing position is possible when applicable.
* Averaging of winning position is increased
Expected return for “Dynamix” is around 100% per year and maximum account drawdown in 25%
Now let’s get to the fund’s performance:
You can see the the performance history by visiting the link below:
http://spreadsheets.google.com/pub?key=p8YMac8bak7lxrF_FvrrLAQ
Fees:
10% of profits applied once each 4 months. This is rather surprising. This should make this MA a very inexpensive one to get into. But wait I got better news, and I’ll save that for last.
Broker:
This MA (managed account) is available only at Oanda. Some of you surely know about Oanda which is just about one of the biggest forex brokers in the world. It’s considered #1 retail Forex trading company (forex for individuals, not banks etc.) And in top 5 list of ALL forex trading companies. OANDA holds several significant awards from prominent magazines and events in Forex trading world. OANDA is a registered Futures Commission Merchant (FCM) with the Commodity Futures Trading Commission (CFTC) and is a member of the National Futures Association (NFA ID #0325821)
The procedure you use to sign-up:
- Open account at OANDA – fill in online form at http://fxtrade.oanda.com/fxtrade/open_account.shtml and fax/email them documents that verify your identity and location. You can send scanned passport or driver license for identity verification and recent utility bill, excerpt from bank statement, cell phone bill etc. This procedure takes one day or even less if you send whole package.
- Submit signed Limited Power of Attorney agreement – Limited Power of Attorney is document that makes legal binding for me to trade money allocated to me from your account. You can download original at https://fx1.oanda.com/share/pdf/OANDA_Power_Of_Attorney.pdf and pre-filled by the trader behind VA Group at http://vagroup.net/POA.pdf.
You will need to print it, fill in you account number at the 3rd line, sign and fax/email it to accountid@oanda.comNotice: Power of Attorney does NOT transfer any kind of ownership of the account in any way. It doesn’t make from account any kind of “joint account” also. You can abort Power of Attorney agreement at any moment without any restrictions, requirements or explanations.Usually it takes around 3-4 hours for OANDA to process it. - Join fund – you will need to follow invitation URL http://tinyurl.com/37spse for “Monolith” account; and http://tinyurl.com/3boef6 for “Dynamix” account.
- Allocate investment – after you log in to client section of the “FX Manager” system located at https://fx1.oanda.com/ma/getting-started-clients.shtml you are able to allocate money to “Dynamix”, “Monolith” or to both of them in suitable proportion for you.Notice: You can familiarize yourself with “FX Manager” system reading some materials at https://fx1.oanda.com/ma/getting-started-clients.shtml
Minimum account size:
This is where I told you it is going to get interesting. Apparently VA Group Asset Management has a minimum account size of just $100! Yeah, I know, sounds completely out of tune with typical managed forex accounts, but as the trader explains it “,you can start investing with $100, track results and decide how much to invest in next round. Currently this fund is new and I accept every investor. There is no maximum investment.”
I opened a test $150 account just a few hours ago. I’m a cautious kind of guy so I’m gonna test the waters for a while and see how the trader performs and if I am satisfied with the performance I’ll scale my account size gradually.