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Posts by
cornix
Cornix Forex
in
Trading Systems
Nov 01, 2012 at 05:46
October is closed for our managed accounts for a profit of 15.21% (~74 pips). Let's see what November brings us. 😄
PAMM recommendation
in
Experienced Traders
Oct 30, 2012 at 08:45
Trading for about a month already, didn't experience many re-quotes (just once and the market was in runaway breakout mode at the time to be exact, I should've placed pre-set order as I usually do instead of hitting the MKT BUY) or slippage so far. Frankly having experience with trading many products on "real" exchanges I don't quite understand why retail FX world is so concerned about re-quotes. It means you don't get filled cause the price changed, right? Well, if you try to trade CL or (Heaven forbid) HSI, especially in the fast market your MKT or STP order will ge...
PAMM recommendation
in
Experienced Traders
Oct 28, 2012 at 15:22
Maybe, but it seems to be the shortest way to legally arrange relationships between MM and a client while at the same time client's funds can only be traded by the manager (never withdrawn etc.) and manager's commission is paid to him automatically and instantly by the broker (making sure this process doesn't depend on client's willingness to adhere to the contract and pay it).I tried to use Zulu as an intermediary but it was a disaster, because adding such a link in the chain (Zulu acts as an IB by the way) causes slippage, non-execution of orders, quoting wider spread etc... ...
PAMM recommendation
in
Experienced Traders
Oct 28, 2012 at 15:18
Those "investors" who would invest without any serious analysis of manager's performance (gains achieved through plain luck are very easy to spot I believe) definitely deserve being "managed" like that. 😀
PAMM recommendation
in
Experienced Traders
Oct 28, 2012 at 15:14
Correct. I applied to Alpari UK in order to register as a Money Manager (originally planned to employ Oanda's fxmanager platform, but they told me back in July already that they're going to "reform" it and I correctly guessed it meant "close down" as we all know today).Alpari UK model for money managers seems to be: you register as an IB and clients register with you as an IB legally with the compensation plan including profit share. At the same time clients sign POA to legally give you the right to manage their money. That's how it works. At least that's wh...
PAMM recommendation
in
Experienced Traders
Oct 28, 2012 at 12:36
Of course, clients are not only aware of the compensation structure, but also sign the paper where it is clearly described. I don't have issues with clients anyway though, because my goal is a limited amount of relatively large clients only who perfectly understand the process and won't be a headache for the manager. :)
PAMM recommendation
in
Experienced Traders
Oct 28, 2012 at 12:31
Clients money is in their own accounts opened with the broker. They simply provide account data to the manager and he trades them. Trades are done through Metatrader Multiterminal which allows simultaneous execution across multiple accounts with multiple proportional sizing options. Alpari UK does say everything about this method, but you must contact them directly, apparently they consider each request individually.
PAMM recommendation
in
Experienced Traders
Oct 28, 2012 at 12:28
Absolutely.
PAMM recommendation
in
Experienced Traders
Oct 28, 2012 at 03:27
Oh sorry. I mean that I registered as an IB (Introducing Broker) with Alpari UK so that clients who want me to manage their money open an account there which is "linked" to me and sign POA (Power of Attorney) form, according to which I legally trade their accounts and the broker automatically deducts my share from their accounts every month.It feels like the most secure scheme for both client and a manager in my view and also there are no execution issues like those which tend to occur with intermediary platforms like Zulu.I wonder what are possible benefits of PAMM vs. what I descri...
Trying to become a full-time trader
in
General
Oct 27, 2012 at 17:03
Depends... For a day trader average two-digit % a month may not be so fantastic ultimate goal. Of course not going to say that's easy to make. But certainly possible.For less frequent trading goals should be adjusted of course, because if you keep risk per trade about the same but trade less frequently, profits will be lower.
PAMM recommendation
in
Experienced Traders
Oct 27, 2012 at 14:50
Could you explain please what are benefits of PAMM? I currently manage money with Alpari UK through IB/POA model and wonder if PAMM could be more effective...
Do you prefer fixed spreads or dynamic spreads?
in
New Traders
Oct 27, 2012 at 14:50
I prefer as tight spread as possible, fixed or floating is not so critical, but don't recall trading with fixed for a long time.
FX Manager Listing Board
in
General
Oct 17, 2012 at 15:47
Hello everyone,I started to accept clients under management. Please check my profile here: http://www.myfxbook.com/members/cornix for recent performance. Latest (Alpari UK) account tracks performance of actual money manager activity (as I already have some clients linked with me).Broker: Alpari UK, direct management with power of attorney linking of your account to my manager's account (please contact me for details).Minimum deposit is $500 (Classic 2 account needs to be opened in order for me to be able to manage it).Expected return: ~10% per month. I can compound or not depending on you ...
Tracking manual oanda account?
in
General
Sep 04, 2011 at 08:11
I successfully managed to report trades from Oanda MT4 platform and all works fine, but have problem with trading privileges approval, because Oanda automatically attaches some ticket number to every order executed, which replaces the approval comment code I try to insert there.
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