Managed Forex Commentary

This is getting ridiculous.  Up over a percent today.  It’s almost like I need him to have a down day or twenty for this to feel normal.  Which he will and has in the past but this is pretty fun right now.  The best part was his commentary to me the other day where he said the “markets are crap” but yet still made money that day??  Reminds me of all my buddies I sail with (first race was last night - good times) and hang out with and other people I know here in Chicago that are professional traders making 1000s and tens of thousands in a day on their own accounts - they complain when they are only making x dollars a day compared to x times 10 - these guys exist -and there are a lot of them.  Problem is they are pretty content hanging out and trading their own accounts or they are locked up by proprietary firms, trading capital for a single group.  I could walk you into at least ten offices of folks we know around the city this afternoon and show you roomfuls of guys sitting behind screens pulling money out of the markets, some darned near every single day.   I’m not saying Triton does that, in fact he doesn’t as I’ve seen his statements, he has had losing streaks in the past and will again.  But my point being these guys that are very good and consistent and control their risk well do exist - it’s just very hard (or VERY hard) to find them that are willing to deal with the hassle of clients, regulators, etc when they make plenty on their own.  It sure seems like we have Triton willing to share with us, but he loves to trade and that’s it - so the deal is we handle clients, paperwork, regulators, and he handles his trading and his team, and that’s that.  Clean and easy for him and nice for us, good for all.  Good work again for Triton following his system and maintaining his discipline, and some of the trades are still on so may be more upside or downside.

Had some angry folks write me about 007 yesterday saying it has done what it said, or rather that I was out of line saying it hadn’t, (and in fact many 007 clients are quite happy with 007s discipline and trading talent and like the trader as much or more than Devrim - fair enough).  I went back and edited my post to reflect that - more like it hadn’t done what I expected nor has the performance been similar to what it was at Oanda - be it slow markets, executions, higher fees, who knows.  I have my thoughts on it, everybody else can have theirs. 

No trades developing from Ian, or new ones for me to be included in, duh to me.

Also some folks bringing up thoughts of Devrim having a larger drawdown than we’ve seen.  I’ve thought about this and I agree it could happen.  He does add a bunch of size to positions when he’s down - but if you watch closely, he also trades around those core positions as they go against him - and he’s made money doing it on balance.  It’s not a blind add and add and add like a casino - he has a powerful system he uses and as I’ve said many times - I believe he’s also got talent, he’s a natural (or experienced) and has a good feel for the market.  So there is clearly risk, maybe a lot, but I still like him, all are entitled to their opinions.

And the day’s just getting started, it’s feeling like a good one, we’ll see what shakes out.