20-40% performance fee (with high watermark) for Forex traders
Apr 13, 2013 at 02:02
My trading is changing, and I'm attempting to overcome my inadequacies in money management.
I was always a position/swing trader, not looking at charts lower than 1 hour, trading small lot sizes( 0.2% of equity) without a stop, however the most I could make was about 5% a month, but due to not using stops, about every 18 months I'd wipe out the account (things like London bombings, 911 and GFC when combined with no stops)
So I decided to train myself to always place a stop on entering a trade, but this proved disastrous. So about 9 months ago I started using 15m and 5m charts to fine tune my entries in order to reduce my stop size... still with only average success. My trade entries are largely quite good, however still get stopped out a lot.
In the last week or so I have started using 2 entries on each trade, in order to be able to close out ½ my order at 5 to 10 pips and move my stop close to entry on the other ½, guaranteeing I don't lose.
With 1% risk on entry, this gives me 0.5% profit on my ½ trade. At +10 I move my stop to BreakEven or thereabouts on my other ½ trade guaranteeing at least 0.25% equity gain on my entry.
All great in theory, but I'm still having trouble implementing it, no doubt due to my ingrained old habits. It will take at least 50 entries to make my new stategy a habit, maybe 100 or more.
If you decide to look at my MyFXBook accounts be aware that the Maximizer is an evolving experimental REAL account. A few months ago I started managing an account for a client which I've also added to mfxbook - Client - CD and Client 2. THe Client 2 account was almalgamated with the Client - CD account last week and is no longer traded.
I was always a position/swing trader, not looking at charts lower than 1 hour, trading small lot sizes( 0.2% of equity) without a stop, however the most I could make was about 5% a month, but due to not using stops, about every 18 months I'd wipe out the account (things like London bombings, 911 and GFC when combined with no stops)
So I decided to train myself to always place a stop on entering a trade, but this proved disastrous. So about 9 months ago I started using 15m and 5m charts to fine tune my entries in order to reduce my stop size... still with only average success. My trade entries are largely quite good, however still get stopped out a lot.
In the last week or so I have started using 2 entries on each trade, in order to be able to close out ½ my order at 5 to 10 pips and move my stop close to entry on the other ½, guaranteeing I don't lose.
With 1% risk on entry, this gives me 0.5% profit on my ½ trade. At +10 I move my stop to BreakEven or thereabouts on my other ½ trade guaranteeing at least 0.25% equity gain on my entry.
All great in theory, but I'm still having trouble implementing it, no doubt due to my ingrained old habits. It will take at least 50 entries to make my new stategy a habit, maybe 100 or more.
If you decide to look at my MyFXBook accounts be aware that the Maximizer is an evolving experimental REAL account. A few months ago I started managing an account for a client which I've also added to mfxbook - Client - CD and Client 2. THe Client 2 account was almalgamated with the Client - CD account last week and is no longer traded.
Wait for the trade to come to you... be patient.
Membro Desde Apr 25, 2011
262 posts
Apr 13, 2013 at 02:52
pt49 posted:
Hi Remus, it's interesting to see you active again in your thread.
You started the thread over 18 months ago, yet you are still looking for an accounts manager. Is this true or are you adding new managers to separate accounts (a form of averaging your trades).
If so, it is an interesting concept. In much the same way that a trader uses several strategies - say scalping, swing and position trades - to average out the ups and downs in a month.
You may be using 3 or 4 different types of traders to manage accounts and so average out the ups and downs of a single account.
I like it.
It's the second thing you mentioned (looking for additions to my 'team'). Given that working with existing managers was more important than looking for new ones, and that whatever time I had available for the Forex team-building business was spent with them, I took a break from replying to posts here for quite a while. You are right about the benefits of working with different trading styles, and that's exactly what I'm doing.
On the other hand, even if I was not looking for new traders, because the thread is rated 4 stars and I saw multiple posts here that clearly were closer to 1 star, I felt it's good to reply to at least the more recent posts.
He who thinks he can, and he who thinks he cannot, are both right. ~ Henry Ford
Membro Desde Apr 25, 2011
262 posts
Apr 13, 2013 at 02:59
pt49 posted:
My trading is changing, and I'm attempting to overcome my inadequacies in money management.
...
Trading is almost surely the profession with the easiest entry requirements (almost anyone can open a real-money account in record time and with incredibly little money, without the need to have any knowledge about the market or even how to place trades), while also having the toughest requirement for long term success... I wish you success in transforming yourself enough so that you can join the consistently profitable traders!
He who thinks he can, and he who thinks he cannot, are both right. ~ Henry Ford
Apr 13, 2013 at 10:41
NextLevelForex posted:myfxpedia posted:
Hi Guys and Remus,
Dont want to waste your valuable time. Home work is a must for Investors. Please study my profile, save them in your watch list if you want to get update each months.
Mostly in history I gain minimum 700 pips a month. I do not know future, but my commitment is: if I dont get 500 pips a month, my service next month be free for you.
Regards
Willy
Finally I read something that makes me look more into what is being offered, thanks Willy!
I just checked your profile and added this system to my watchlist:
https://www.myfxbook.com/members/myfxpedia/project-500-pips-month/420510
If you have a better one, that is more fit to 'represent' you, please let me know.
I like above account for multiple reasons, and I'm going to post them for anyone else interested in advertising their accounts here:
- Track Record Verified, Trading Privileges Verified, Real-Money account (these are all required, for me)
- decent history length (almost 9 months)
- open trades history
- relatively uniform lot sizes used (with some exceptions)
There are also some things I don't quite like, but they are not so bad to disqualify the system:
- I find multiple cases of averaging down, but they seem to be limited to 4 trades in a basket
- some trades are held opened for weeks; I prefer trades closed each Friday, but there are ways to workaround that
I'm going to check back on your results later, and potentially contact you about working together.
Dear Remus and guys,
Yes I have several publish systems that you may find interest:
T-Go system: https://www.myfxbook.com/members/myfxpedia/t-go/507943
Also this one https://www.myfxbook.com/members/myfxpedia/project-500-pips-month-02/420077
..
Actually we publish the project 500 pips a month with an account of 5000$ ( you mentioned link above ) just because it will fit most of the guys around here as an introduce of our services. However with serious investor we have different services.
--
Yes we understand that our system can not meet and make all investors happy however we make most of them happy so far.
Please refer to one of 3rd site that give testimonial to us:
https://www.forexpeacearmy.com/public/review/myfxpedia.com
--
We are not averaging down because all trades are uniformed with SL and follow total risk parameter. As long as the trades does not hit SL nor TP ( and situation, FA does not change we still keep the trade and follow original plan )
Most of the trades are within 2 - 3 days, however some pairs we just have to patient with them. From our own experience patient is virtue.
Should you interest please use contact from in our website.
Thank and Best regards
myfxpedia - Where Traders Become Investors
Jul 15, 2013 at 06:19
who know you might interested with my strategy :)
https://www.myfxbook.com/members/ars2010/best-trading-strategy-2013/627053
:)
https://www.myfxbook.com/members/ars2010/best-trading-strategy-2013/627053
:)
Dear all Trader! Good night and sleep well ;)
Jul 15, 2013 at 08:29
i know you might be interested with my strategy ;)
https://www.myfxbook.com/members/gmi_live/gmi-live/636095
:) :) :)
https://www.myfxbook.com/members/gmi_live/gmi-live/636095
:) :) :)
Money Management is key to success
Jul 15, 2013 at 20:50
9 MONTHS VIFRED RECORD
20% MONTHLY AVERAGE PROFIT
80% WINNING TRADES
IT YOU ARE INTRESTED PLEASR LET ME KNOW
https://www.myfxbook.com/members/aamajidz/investor/445606
20% MONTHLY AVERAGE PROFIT
80% WINNING TRADES
IT YOU ARE INTRESTED PLEASR LET ME KNOW
https://www.myfxbook.com/members/aamajidz/investor/445606
Membro Desde Apr 25, 2011
262 posts
Jul 16, 2013 at 02:27
myfxpedia posted:
We are not averaging down because all trades are uniformed with SL and follow total risk parameter. As long as the trades does not hit SL nor TP ( and situation, FA does not change we still keep the trade and follow original plan )
Most of the trades are within 2 - 3 days, however some pairs we just have to patient with them. From our own experience patient is virtue.
I want to confess that I subscribed to a 3 month service from myfxpedia. I was treated very nicely and even received extra days for trialing the service before paying for that subscription. They had a strong and rather long track record, and luckily I only started with a small account. I said 'luckily' because this is what happened to their track record:
https://www.myfxbook.com/members/myfxpedia/project-500-pips-month/420510
They broke the golden rule of trading and fought the trend in several currencies recently (all tied to AUD), so much so that they ended up with 14 open trades (averaging down 4-5 times in each pair, which shows much of a lie the 'we are not averaging down' statement is).
As far as 'patience is a virtue' goes, surely that sounds nice and is true in most cases, except in the situation myfxpedia is now: hope and hold, with 10 trades in a floating loss of 8000 pips (and that's after they just closed 4 trades for -1500 pips)! The majority of the open trades have an age of about 2 months (you can check the length of the 4 trades closed last week, and see the 60+ days age there), and I even if they somehow recover, the track record is really messed up now.
I hope we all learned from these mistakes, and it's what we do next that matters.
He who thinks he can, and he who thinks he cannot, are both right. ~ Henry Ford
Membro Desde Apr 25, 2011
262 posts
Jul 16, 2013 at 02:34
ars2010 posted:
who know you might interested with my strategy :)
https://www.myfxbook.com/members/ars2010/best-trading-strategy-2013/627053
:)
Looks good, but has very short, and hidden, history.
If it still looks ok, please post again once you have 100 trades and 3 months.
He who thinks he can, and he who thinks he cannot, are both right. ~ Henry Ford
Membro Desde Apr 25, 2011
262 posts
Jul 16, 2013 at 02:41
gmi_live posted:
i know you might be interested with my strategy ;)
https://www.myfxbook.com/members/gmi_live/gmi-live/636095
:) :) :)
GMI, I remember you! :)
Can you verify your account and tell us how much Martingale and/or Grid goes into that strategy? (hopefully none)
He who thinks he can, and he who thinks he cannot, are both right. ~ Henry Ford
Jul 16, 2013 at 07:25
NextLevelForex posted:ars2010 posted:
who know you might interested with my strategy :)
https://www.myfxbook.com/members/ars2010/best-trading-strategy-2013/627053
:)
Looks good, but has very short, and hidden, history.
If it still looks ok, please post again once you have 100 trades and 3 months.
ok i will come back after 3 month :) but to be honest in my first week some investor already send me pm that saying they have interest with my strategy I am not sure what reason, but I think you right! maybe I am to early offering my services! anyway thank you for your reply :) and I really hope we can work in the future!
Dear all Trader! Good night and sleep well ;)
Membro Desde Feb 01, 2013
27 posts
Jul 16, 2013 at 11:13
ill add a new system i have been trying to trade for 2 months.
https://www.myfxbook.com/members/platinumfxsignal/real/619708
let me know if anyone likes it!
all manual..
Freddy
https://www.myfxbook.com/members/platinumfxsignal/real/619708
let me know if anyone likes it!
all manual..
Freddy
Jul 16, 2013 at 23:19
NextLevelForex posted:gmi_live posted:
i know you might be interested with my strategy ;)
https://www.myfxbook.com/members/gmi_live/gmi-live/636095
:) :) :)
GMI, I remember you! :)
Can you verify your account and tell us how much Martingale and/or Grid goes into that strategy? (hopefully none)
Hey Remus, glad you still remember us ;-)
We tried to verify the account, but somehow it didn't work. We will contact support to solve it.
The EA is running a Swing / Trend Following strategy. No Martingale. No Grid.
If you are interested in having a peek at the system on our VPS, we can show you on Skype.
PM us.
Money Management is key to success
Jul 17, 2013 at 11:25
you could check my performance here at my page
kindly visit my forex research page here www.facebook.com/guerrillatrading
i provide signals,fund managing starts from 5000 dollar account size,
i have posted my profit video also, my contact no +91 9600 168 268
kindly visit my forex research page here www.facebook.com/guerrillatrading
i provide signals,fund managing starts from 5000 dollar account size,
i have posted my profit video also, my contact no +91 9600 168 268
live for yourself
Jul 17, 2013 at 11:27
Hello Remus, this is my Strategy.....
https://www.myfxbook.com/members/Lambo78/system-h1-daily/396885
Andrea
https://www.myfxbook.com/members/Lambo78/system-h1-daily/396885
Andrea
Non conta quanti pip fai, ma che percentuale fai.......
Jul 25, 2013 at 12:09
gmi_live posted:NextLevelForex posted:gmi_live posted:
i know you might be interested with my strategy ;)
https://www.myfxbook.com/members/gmi_live/gmi-live/636095
:) :) :)
GMI, I remember you! :)
Can you verify your account and tell us how much Martingale and/or Grid goes into that strategy? (hopefully none)
Hey Remus, glad you still remember us ;-)
We tried to verify the account, but somehow it didn't work. We will contact support to solve it.
The EA is running a Swing / Trend Following strategy. No Martingale. No Grid.
If you are interested in having a peek at the system on our VPS, we can show you on Skype.
PM us.
Hi Remus,
We finally managed to verify the account.
The EA is trading only Crude Oil (CL).
https://www.myfxbook.com/members/gmi_live/crude-oil-ea/644021
Best Regards,
GMI
Money Management is key to success
Jul 27, 2013 at 10:58
Hi guys,
This is an update on the Crude Oil EA for July 2013.
The EA started the month with 3 wrong swings and ended with 2 right swings.
The end result 2084 pips booked for July. You can view the stats on Myfxbook link below :
https://www.myfxbook.com/members/gmi_live/crude-oil-ea/644021
Have a super weekend!
GMI
This is an update on the Crude Oil EA for July 2013.
The EA started the month with 3 wrong swings and ended with 2 right swings.
The end result 2084 pips booked for July. You can view the stats on Myfxbook link below :
https://www.myfxbook.com/members/gmi_live/crude-oil-ea/644021
Have a super weekend!
GMI
Money Management is key to success
Membro Desde Apr 25, 2011
262 posts
Jul 31, 2013 at 06:11
(editado Jul 31, 2013 at 06:13)
On April 12 (https://www.myfxbook.com/community/experienced-traders/20-40-performance-fee-/164585,1#?pt=2&p=36&o=164585) I said I like the way myfxpedia presented themselves on this thread, and also liked several things about their trading history. I noticed their myfxbook watchlist counter increased from around 100 at that moment to 199 today.
Based on the longer than average history, and the market updates on their forum, I really thought they are a team of experienced traders, so I started a small account with them. While they treated me very promptly and professionally during the trial (which they generously extended beyond the typical period, on my request), that's about all the good things I can mention about them today.
It could be the overconfidence because May was their best month (almost 2000 pips, according to their math, which did not include the floating losses), or it could be that they got a bunch of subscribers and saw business improving, it does not matter the reason now. Somehow they started a bunch of trades against the trend forming in AUD, and very soon ended up with 14 open trades, and reaching drawdown levels not hit before.
On 7/12 a basket of trades hit the SL, and today another basket hit the SL, putting the monthly losses to around 7000 pips (while having a floating loss of around 6000 pips). So I thought to send them and email, see if they have any strategy for recovery. But before that I went to check their forum, and to my big disappointment I found this post: https://www.myfxpedia.com/forum/showthread.php?209-End-Of-Month-Report&p=2677#post2677
All I can read there is 'markets are not friendly, trading is hard, but all is well, we'll recover, just have patience'. No mention about the pips lost, or about the floating losses, or about something like 'we failed big time at this, we should have cut the losses short a long while ago'. On the contrary, they say they failed to capture the profits when possible... As if anyone cares about few tens or hundreds pips, when you have losses that exceed 10,000 pips!!! They even say that the drawdown level of their account is just 10%, while I can see both their myfxbook accounts at much higher levels (around 40%):
https://www.myfxbook.com/members/myfxpedia/project-500-pips-month/420510
https://www.myfxbook.com/members/myfxpedia/project-500-pips-month-02/420077
Here is my account, in case they go ahead and hide theirs:
https://www.myfxbook.com/members/NextLevelForex/36-ilq-cach-myfxpedia-500/455581
I apologize for this rather negative post. It's not my style to expose X and Y. And it certainly does not give me pleasure to do this. It's just that given that I believe I was in part responsible for them getting additional audience, through this thread, I considered it's good to close this chapter with these clarifications.
In a day or two I'll probably post a picture of their trades on my FB page (https://facebook.com/NextLevelForex), just as an example of what not do to.
Based on the longer than average history, and the market updates on their forum, I really thought they are a team of experienced traders, so I started a small account with them. While they treated me very promptly and professionally during the trial (which they generously extended beyond the typical period, on my request), that's about all the good things I can mention about them today.
It could be the overconfidence because May was their best month (almost 2000 pips, according to their math, which did not include the floating losses), or it could be that they got a bunch of subscribers and saw business improving, it does not matter the reason now. Somehow they started a bunch of trades against the trend forming in AUD, and very soon ended up with 14 open trades, and reaching drawdown levels not hit before.
On 7/12 a basket of trades hit the SL, and today another basket hit the SL, putting the monthly losses to around 7000 pips (while having a floating loss of around 6000 pips). So I thought to send them and email, see if they have any strategy for recovery. But before that I went to check their forum, and to my big disappointment I found this post: https://www.myfxpedia.com/forum/showthread.php?209-End-Of-Month-Report&p=2677#post2677
All I can read there is 'markets are not friendly, trading is hard, but all is well, we'll recover, just have patience'. No mention about the pips lost, or about the floating losses, or about something like 'we failed big time at this, we should have cut the losses short a long while ago'. On the contrary, they say they failed to capture the profits when possible... As if anyone cares about few tens or hundreds pips, when you have losses that exceed 10,000 pips!!! They even say that the drawdown level of their account is just 10%, while I can see both their myfxbook accounts at much higher levels (around 40%):
https://www.myfxbook.com/members/myfxpedia/project-500-pips-month/420510
https://www.myfxbook.com/members/myfxpedia/project-500-pips-month-02/420077
Here is my account, in case they go ahead and hide theirs:
https://www.myfxbook.com/members/NextLevelForex/36-ilq-cach-myfxpedia-500/455581
I apologize for this rather negative post. It's not my style to expose X and Y. And it certainly does not give me pleasure to do this. It's just that given that I believe I was in part responsible for them getting additional audience, through this thread, I considered it's good to close this chapter with these clarifications.
In a day or two I'll probably post a picture of their trades on my FB page (https://facebook.com/NextLevelForex), just as an example of what not do to.
He who thinks he can, and he who thinks he cannot, are both right. ~ Henry Ford
Jul 31, 2013 at 07:03
Oh shit... as usual, people are in a hurry to tell about the massive pips that they made last month, but short on details in a bad month.
All they had to do was be upfront and honest about their losses and they probably would not have got this bad review.
All they had to do was be upfront and honest about their losses and they probably would not have got this bad review.
Wait for the trade to come to you... be patient.
