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By admin • Jun 6th, 2008 • Category: Devrim, Ian, TritonNot too excited about the traders the last couple days. Devrim in a fat drawdown now, don’t like that part of his trading at all, he takes on much risk. We’ll see what happens. Leveraging him makes me nervous. Tempting based on his monthly track record, it is always important to understand a trader’s style and if you are comfortable with it. 17% drawdown on 1x is 34% on 2x - and no reason 17% is the ceiling, it could be bigger. I still think he’s a talented trader and like watching him, but these drawdowns aren’t fun. Apparently he’s running 40 million or more now - that’s fast growth.
Triton also off the last two days again extending his streak to I think four losing days in a row, asked him to drop his leverage until we see some profitability again like we did for his first four or five day win streak. Still has a favorable risk/reward on a monthly resolution.
Ian has a trade or two he says are setting up, meeting with him this afternoon to discuss a number of hedge funds he likes as well as other items.
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I wish it was only a 17% drawdown in my 2x account. It’s a 23.5% peak-to-valley drawdown in my 2x Devrim account this morning, with a big EUR/USD position sitting at 1.5666. the EUR/USD has been extremely volatile all week, with at least three very quick 150-200 PIPS moves this week. He got in the way of the big up-move this morning in EUR/USD on the U.S. unemployment report like a man standing in front of a moving freight train.
Looks like I spoke too soon - the current drawdown is a painful 30.7%, peak-to-valley, in my Devrim 2x account with EUR/USD at 1.57455, and currently showing a sizable loss overall in the 6+ months I’ve had an account with him. I’m very surprised he allowed his positions to move against him by as much as 200 PIPS in this trade. I’ve seen him cut his losses before when a trade did not go as planned. He’s currently not too far away from a margin call closing some of these positions (!)
i also really cant understand this positions. i myself even was going long on eurusd and euraud before the news. it was even said before, that the news come out bad for the usd. i have heavy floating loss in my 20k X2 acc. opening so much positions before such a news event can’t really be true. i wonder if there is standing more behind this issue, cause imho a experienced trader like him really CAN’T open such big positions before this event. he can’t be taken serious if does something like this!
Devrim is currently in an unprecedented 40.57% drawdown (peak-to-valley in 2x account) with the EUR/USD at 1.5771. So, if you rolled the dice with a 3x account, you’re in a 60.85% drawdown right now! Ouch.