Forex Managers
By admin • Jul 15th, 2008 • Category: 007, Devrim, Fall River, HVB, Ian, Mcelhaney, UFXDevrim to new lows - whoa. He has some rearranging of his business going on - I suspect that has been affecting him, hopefully it will be squared away soon if it isn’t already (doesn’t seem to be). I have my allocation shaved down.
My Rove allocation process continues today, hear some happy folks. Looks like the minimum went up.
Ian no new trades on, bringing capital in for him. Our company is called Genoa Capital.
UFX holding about even, doing some trading, winning some, losing some, started them on a million, adding more to them. I am in regular contact with antonio and he has been very responsive.
Had breakfast at the venerable Drake Hotel with Fall River, they run around 300 million. Was very impressed, trade 84 markets, very tight money management, team of nine people. They had some very interesting ideas and have a decent track record to show they know what they are doing. Still taking small (million) accounts, and compete with the big players it seems. Looking to have a currency program available by the end of the year. Talked of creating new pairs with spreads, was interesting. Will be looking to work with them. Interestingly they do not allow clients to enter their program unless they are in a 3-4% drawdown depending on the program. Great idea, they provide the discipline for their clients. Sometimes the wait can be 3-6 months if they are doing well, must have patience.
HVB flat the last few months. Paskewitz off 11% or so.
To learn more about investing with managed accounts, contact us.
All I can say is, WOW. This is what you get when you try and shot for the stars. I saw this coming from about 100 miles away. Listen, there is a reason the buffet’s, the Lynch’s, the Cramer’s, the Cohen’s of the world are considered the best of the best. Because they are. You know what they return per year???? 20-25% MAX. Its not about making 50-100%. Its about making money steady in the long run. Unfortunately blogs like these give false hope to investors by cutting good traders and managers WAY to fast (K3, and others) and pumping others WAY to much. Tom always says he is looking for traders that make money almost every day with small DD. You know what, they are out there. BUT, they are only trading like 100k-1mil. If they gain any size they blow it. I have seen it time in and time out. Trust me, I will go unnamed but I am in the currency management industry and I feel very sorry for all who lost money with flash in the pan traders. There are great traders out there. Look for 15-25% a year with 4-5 year track with 10-15% DD. That is real. Again, I feel for all out there that lost money. Please learn from it. There is money to be made in this game but its NEVER as easy as some may try and paint it to be.
Best trader this site talks about right now is McElhannon Retail. If those numbers are true and you can verify them then they are solid. Also, make sure that they have managed at least 10 mil of the 30+ under management for at least 16-24 months. If so, they are about as good as you can ask for. Stop trying to find the next best thing. You will keep losing your butt big time if you do. You will be happy about 60% of the time and wanting to jump out the window the other 40% of the time. Not worth it if you ask me. Plus, your always a few trades of a huge blow up with a lot of these “high flyers” Keep it simple. Keep it with the proven talent that makes 15-25% a year and be able to withstand a 10-15% DD. Dont try and out smart the smartest guys in the world. Trust me, many poeple have lost many millions trying to outsmart the smartest. And remember, the smartest, best money in the world only get 15-25% a year. Think about that…..
J
By the way, what ever happened to K3, Mansfield. Elite, Fit, Coe, Q, etc. etc. Sad thing is, I know a few of these guys that are no longer talked about and there are about 4 of them that I would give a million of my own money to before I would give $10 bucks to anyone being talked about these days.
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