Managed FX update

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By admin • May 13th, 2008 • Category: 007, Bankedge, BlendedFX, CBM, Devrim, ForexMx, HVB, Ian, Triton

Exciting times - Triton is up his first two days! I’m pretty pumped about that relationship. Statements match performance, pretty stellar. Risk is controlled, trader is responsive, leverage is low. Numbers are great but not too great ot be unbelievable. We’ll have down times for certain but great to get off on the right foot, bodes well in my opinion. Good to see, hope it keeps up. Up 1% day one roughly, +.5% day two. He’s taking 15-120 pips profits on the winners. Great.

Ian tells me he’s up 1.2% on this week’s trades, that was as of yesterday, I don’t see the trading in my account, have an email in to him. If it’s true that’s also terrific.

CBM down in a big way this month, off over 25%. Disastrous in my book. If people are ok with that kind of big drawdown, go for it, I’m staying away from them. Just not my type of trader, others may feel differently. Also, the trading now doesn’t match the trading shown before we put money with them, not a good sign. Apparently they have a number of other products, some more and less profitable than this one.

Devrim trading around, up a bit on the month.

HVB took some pain yesterday, mostyly due to slippage and a parameter being set to look at stocks uder $5 differently. Things have been adjusted so ideally we’ll avoid those in the future, gradually whittling away and improving it.

007 flattish this month I’ve heard. Bankedge also fairly flat to down, had a fat-finger error which he very admirably made up to his clients, that impresses me, it’s the right thing to do. Bankedge starting to do well, we’ll see. Very high fees, doesn’t sit well. ForexMx seems to post losing days every day - not impressed there, glad we got out when we did.

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9 Responses »

M on May 14th, 2008 at 8:07 am:
Been with Ian for less than 2 days so far. Down 6.5%. 5 trades, 5 losses. I was under the impression he rarely trades.
GUY on May 14th, 2008 at 8:57 am:
Tom,
Have you seen Devrim Akyil’s trading video yet? I found it here if you’re interested:

http://www.youtube.com/watch?v=xxh7tCiuUfo
admin on May 14th, 2008 at 9:22 am:
Yes I see that, I’m losing confidence. He’s bringing statements down he tells me in the next few days. I’m tempted to give him another few trades, but I agree with you, not impressed so far at all.
Thomas on May 14th, 2008 at 9:40 am:
So Ian tells you he’s up 1.2% while M’s account is down 6.5% - very suspicious in my opinion!
admin on May 14th, 2008 at 10:24 am:
that was a few days ago and he has told me since that the positions went back against us - but 6% is a lot more than it should be - did you have it leveraged?
M on May 14th, 2008 at 10:54 am:
I’m not sure. I didn’t select any special leverage in the form but from looking at the trades the euro trades were 4 : 1 leverage and the SGD trades were 3.3 : 1 leverage . The account is now down about 5%. He has 2 open trades. a Euro and SGD each so total of about 7:1.
admin on May 14th, 2008 at 11:43 am:
That must be an allocation issue - he’s only down a couple hundred dollars in the last few days across all accounts. I’ll work on it.
admin on May 14th, 2008 at 12:54 pm:
OK - on the phone with PFG - it’s an allocation issue - they added you but put you in at a much higher percentage than you should have been (partially my fault) - it should be fixed and show on your login after 5 tonight. It should show you only down 1% or so.
M on May 14th, 2008 at 2:42 pm:
Thanks for fixing that. Big difference.