20-40% performance fee (with high watermark) for Forex traders
Sep 05, 2011 at 00:47
Oh, great............ Feeling so hot here 😲
I'm sorry for being like this Remus :)
Thanks for all coment, I really appreciate with that.
ps: Mr. Cuong, you are good strategy developer,success for you :)
Regards,
copett
I'm sorry for being like this Remus :)
Thanks for all coment, I really appreciate with that.
ps: Mr. Cuong, you are good strategy developer,success for you :)
Regards,
copett
3-5% Monthly profit, Follow my zulutrade!!
Sep 05, 2011 at 01:38
Thanks Copett. I have spent many years many hours a day on this. I take this a serious business. It need to be treated as a serious busisness because it can make a big change to our life.
I focus most on money management. I have one EA that take random signal and still can produce some profit just by money management, although it is a small profit.
Have a good strategy to you, Copett.
I focus most on money management. I have one EA that take random signal and still can produce some profit just by money management, although it is a small profit.
Have a good strategy to you, Copett.
If you can prove that you can make money grows, tons of money will flow to you.
Sep 05, 2011 at 04:31
(แก้ไขแล้ว Sep 05, 2011 at 04:50)
I do the same with you Mr. Cuong, doing this as serious career. I'm not focus in good entry, but I'm focus in how to handling wrong position.
Anyway, I always putting stoplost on any of my trades, ALWAYS! Maybe I'm not good in coding, I spend more 8 months to build this one, not just 20 minutes coding, more than 11 times blown my account. I don't think like a gambler in vegas, I prefer to think like a dealer, some times dealer was down because one of gambler won the jackpot, but overall dealer still win.
Allright, I think It's enough, Back to thread.
I'm sorry for my english, I used google translate 😁
Regards,
copett
3-5% Monthly profit, Follow my zulutrade!!
เป็นสมาชิกตั้งแต่ Jan 14, 2010
2299 โพสต์
Sep 05, 2011 at 09:29
It is called rationalization. When you cannot do something you always invent some reasons to explain. Like someone who starts day trading when position goes against him he suddenly becomes long term investor.
having 500+ pips against you and saying you trade like dealer/ broker is funny. Those were dealers who actually took position against you and drove price 500_+ pips against you and you are simply a lucky guy that it did not break above resistance and let you get out at smaller loss. In this business everything is important: entry, exit and money management and especially self control.
By trading like this you break the most important rule of trading which is do not let losses run and cut them shot.
I am a Greasy Monkey and I am pretty ok with that as Greasy Monkey is hard working, knows how the system works and take things slowly.
I am done with this.
having 500+ pips against you and saying you trade like dealer/ broker is funny. Those were dealers who actually took position against you and drove price 500_+ pips against you and you are simply a lucky guy that it did not break above resistance and let you get out at smaller loss. In this business everything is important: entry, exit and money management and especially self control.
By trading like this you break the most important rule of trading which is do not let losses run and cut them shot.
I am a Greasy Monkey and I am pretty ok with that as Greasy Monkey is hard working, knows how the system works and take things slowly.
I am done with this.
copett posted:
I do the same with you Mr. Cuong, doing this as serious career. I'm not focus in good entry, but I'm focus in how to handling wrong position.
Anyway, I always putting stoplost on any of my trades, ALWAYS! Maybe I'm not good in coding, I spend more 8 months to build this one, not just 20 minutes coding, more than 11 times blown my account. I don't think like a gambler in vegas, I prefer to think like a dealer, some times dealer was down because one of gambler won the jackpot, but overall dealer still win.
Allright, I think It's enough, Back to thread.
I'm sorry for my english, I used google translate 😁
Regards,
copett
Sep 05, 2011 at 09:49
Chikot posted:
It is called rationalization. When you cannot do something you always invent some reasons to explain. Like someone who starts day trading when position goes against him he suddenly becomes long term investor.
having 500+ pips against you and saying you trade like dealer/ broker is funny. Those were dealers who actually took position against you and drove price 500_+ pips against you and you are simply a lucky guy that it did not break above resistance and let you get out at smaller loss. In this business everything is important: entry, exit and money management and especially self control.
By trading like this you break the most important rule of trading which is do not let losses run and cut them shot.
I am a Greasy Monkey and I am pretty ok with that as Greasy Monkey is hard working, knows how the system works and take things slowly.
I am done with this.copett posted:
I do the same with you Mr. Cuong, doing this as serious career. I'm not focus in good entry, but I'm focus in how to handling wrong position.
Anyway, I always putting stoplost on any of my trades, ALWAYS! Maybe I'm not good in coding, I spend more 8 months to build this one, not just 20 minutes coding, more than 11 times blown my account. I don't think like a gambler in vegas, I prefer to think like a dealer, some times dealer was down because one of gambler won the jackpot, but overall dealer still win.
Allright, I think It's enough, Back to thread.
I'm sorry for my english, I used google translate 😁
Regards,
copett
Thanks :)
3-5% Monthly profit, Follow my zulutrade!!
เป็นสมาชิกตั้งแต่ Jan 14, 2010
2299 โพสต์
Sep 05, 2011 at 10:36
Good luck 😉
copett posted:
Chikot posted:
It is called rationalization. When you cannot do something you always invent some reasons to explain. Like someone who starts day trading when position goes against him he suddenly becomes long term investor.
having 500+ pips against you and saying you trade like dealer/ broker is funny. Those were dealers who actually took position against you and drove price 500_+ pips against you and you are simply a lucky guy that it did not break above resistance and let you get out at smaller loss. In this business everything is important: entry, exit and money management and especially self control.
By trading like this you break the most important rule of trading which is do not let losses run and cut them shot.
I am a Greasy Monkey and I am pretty ok with that as Greasy Monkey is hard working, knows how the system works and take things slowly.
I am done with this.copett posted:
I do the same with you Mr. Cuong, doing this as serious career. I'm not focus in good entry, but I'm focus in how to handling wrong position.
Anyway, I always putting stoplost on any of my trades, ALWAYS! Maybe I'm not good in coding, I spend more 8 months to build this one, not just 20 minutes coding, more than 11 times blown my account. I don't think like a gambler in vegas, I prefer to think like a dealer, some times dealer was down because one of gambler won the jackpot, but overall dealer still win.
Allright, I think It's enough, Back to thread.
I'm sorry for my english, I used google translate 😁
Regards,
copett
Thanks :)
เป็นสมาชิกตั้งแต่ Apr 25, 2011
262 โพสต์
Sep 07, 2011 at 00:12
Just wanted to let you know that Myfxbook team added the Expectancy in Pips, and you can see it now next to the one in $ (in the Advanced Statistics -> Trades area). Many thanks for responding so quickly to my suggestion!
He who thinks he can, and he who thinks he cannot, are both right. ~ Henry Ford
Sep 07, 2011 at 13:07
NextLevelForex posted:
Hi everyone,
If you are interested in trading other people’s money, please post details about your results here.
A verified real money account on myfxbook would be good, but not absolutely required at this point.
Please compile results and extract some statistics for posting them here. Specifically I'm interested in:
1) how long have you been trading for, any methods or systems
2) how many trades / month does your current system generate
3a) what is the maximum trade duration for the last 100 trades
3b) what is the average trade duration for the last 100 trades
4) what is the average pip/trade over the last 100 trades
5a) what is the Pips Expectancy of your current method
5b) what is the Expectancy Ratio of your current method
Pips Expectancy = ( Average Pips Win * Winning Trades % + Average Pips Loss * Losing Trades % ) / 100
Expectancy Ratio = Pips Expectancy / Average Pips Loss
Thank you for your interest!
Remus
Hello everybody, please find in this entry my details. Currently i am in the setup phase of a managed account company. since i am located in germany not such simple task... so, if somebody can provide some useful information, highly appriciated.
Remus, here are my anwsers:
1) how long have you been trading for, any methods or systems
--> since 5 years. System is Price Action; Break Out; Trend Following; Scalping
2) how many trades / month does your current system generate
--> Trades as from January 2011 more than 2300 trades
3a) what is the maximum trade duration for the last 100 trades
--> around 2days what is the average trade duration for the last 100 trades
--> 1,5 hours
4) what is the average pip/trade over the last 100 trades
--> 13pips
5a) what is the Pips Expectancy of your current method
--> 4.8pips
regards
Roland
เป็นสมาชิกตั้งแต่ Jul 17, 2010
30 โพสต์
Sep 09, 2011 at 08:48
I think if traders want to some more money, PAMM account is useful way. very popular.
Mind+Method+Money= NOTHING IMPOSSIBLE
เป็นสมาชิกตั้งแต่ Apr 25, 2011
262 โพสต์
Sep 09, 2011 at 15:09
chinahunter posted:
I think if traders want to some more money, PAMM account is useful way. very popular.
Thanks for your comment, ChinaHunter! I agree PAMM accounts are useful and popular, but I'm looking for something different. My account is at a particular brokerage that does not have PAMM/MAM, and there are other reasons why I'm looking to get in touch with traders directly (rather than look for and signing up under various PAMM accounts).
One thing is that I need is a lot better risk control than what you find in PAMM accounts (your's included - in https://www.myfxbook.com/members/chinahunter/chinahunter-instaforex-pamm/153264 I see a gain of 227% in 14 trading days, only to be followed by a wipeout, the equity being now close to 0)
I have explained the guidelines for trading my account in a previous post, if you search this thread you'll find that at page 9. As you'll see, the target (make $100 give 1 minilot for trading) is not hundreds of % gain each month, but if you can be consistent with that, it's a great way to have large accounts grow.
He who thinks he can, and he who thinks he cannot, are both right. ~ Henry Ford
Sep 09, 2011 at 15:19
Agree. I think that my account does meet your requirements.
Currently i am in the process of setting up a forex managed account. (based on legal requirements, not like the fly buy shops out there).
would be interested to hear your opinion.
thanks
Roland
Currently i am in the process of setting up a forex managed account. (based on legal requirements, not like the fly buy shops out there).
would be interested to hear your opinion.
thanks
Roland
เป็นสมาชิกตั้งแต่ Apr 25, 2011
262 โพสต์
Sep 09, 2011 at 15:40
elbe17fx posted:
Agree. I think that my account does meet your requirements.
Currently i am in the process of setting up a forex managed account. (based on legal requirements, not like the fly buy shops out there).
would be interested to hear your opinion.
thanks
Roland
Roland,
I saw your original post, but did not have time to reply to it until now. I checked your account and indeed it looks like a good fit, from all perspectives (trade currencies only, decent history length, lots of trades meaning higher chance of statistics being meaningful, and above all, good Pips Expectancy (4.86) and Expectancy Ration (0.18).
I'll send you a private message about how to contact me directly.
Have a great weekend!
Remus
He who thinks he can, and he who thinks he cannot, are both right. ~ Henry Ford
เป็นสมาชิกตั้งแต่ Aug 30, 2011
11 โพสต์
Sep 12, 2011 at 06:31
real account only 50 usd, https://www.myfxbook.com/members/INDOREBATE/indorebate/157291
slow profit
slow profit
HIDUP ITU INDAH
เป็นสมาชิกตั้งแต่ Apr 25, 2011
262 โพสต์
Sep 14, 2011 at 02:24
INDOREBATE posted:
real account only 50 usd, https://www.myfxbook.com/members/INDOREBATE/indorebate/157291
slow profit
Slow profit? I see 155.87% gain in 2 weeks. That usually means you are way over-leveraged...
What about the current drawdown of 47%? (Equity = 53.13%). That's not what I'm looking for.
He who thinks he can, and he who thinks he cannot, are both right. ~ Henry Ford
เป็นสมาชิกตั้งแต่ Apr 25, 2011
262 โพสต์
Sep 21, 2011 at 04:19
I thought it would be good to summarize the accounts in the 'watch out, danger ahead' category. They come from people who replied to this thread and another one where I inquired about account managers. I made up my mind about them rather quickly, so please give them a second chance if you happen to get interested in their performance. I just felt it would be good to share my first impressions, so that other people know what to look for as potentials signs of trouble.
Here are the accounts I considered 1 star on a 3 star system (where 1 is the is the lowest, meaning 'no, thanks'):
Partnerfx / Frank: https://www.myfxbook.com/members/partnerfx/partnerfx/120890
Are you kidding me? Gave up on the 15 pips SL rule, traded without stop loss, blew off the account, and then started anew, proclaiming he's disciplined every day.
Dr. Zain Agha: https://www.myfxbook.com/members/zainagha/dr-zain-agha-managed-accounts/158031
Claims 100% winning rate, but has super short history (3 days when I first saw the account), and first account was deleted after several days. Not updated since Sep 4.
Peter Matthewmatty: https://www.myfxbook.com/members/petermatthew01/eurusd-futures-signal/148693
Shows just a DEMO account, with short history (1 month); has a 25% floating DD (but a 135% gain last month), so likely overleveraged. Account shown is now deleted.
EliteFxPT: https://www.myfxbook.com/members/EliteFxPT/elitefxpt-pamm/139625
Short history (1.5 months); 22% realized DD, and another 25% floating DD. Account is now marked as private.
SaltyWatters
Could not get much info about the trading system. I got only a couple of screenshots. Said account was not linked to myfxbook due to privacy concerns.
ChinaHunter: https://www.myfxbook.com/members/chinahunter/chinahunter-instaforex-pamm/153264
Short history (1 month). Account blown off in 3 weeks. Before that there were signs of Martingale being used (days with lots of negative pips were still profitable).
indorebate: https://www.myfxbook.com/members/INDOREBATE/indorebate/157291
Very short history at the first contact (less than 2 weeks). Account blown off in 3 weeks.
If any of the above traders can show me that I was wrong excluding them from my pool of potential account managers, I'll be glad to stand corrected.
Happy trading everyone!
Remus
Here are the accounts I considered 1 star on a 3 star system (where 1 is the is the lowest, meaning 'no, thanks'):
Partnerfx / Frank: https://www.myfxbook.com/members/partnerfx/partnerfx/120890
Are you kidding me? Gave up on the 15 pips SL rule, traded without stop loss, blew off the account, and then started anew, proclaiming he's disciplined every day.
Dr. Zain Agha: https://www.myfxbook.com/members/zainagha/dr-zain-agha-managed-accounts/158031
Claims 100% winning rate, but has super short history (3 days when I first saw the account), and first account was deleted after several days. Not updated since Sep 4.
Peter Matthewmatty: https://www.myfxbook.com/members/petermatthew01/eurusd-futures-signal/148693
Shows just a DEMO account, with short history (1 month); has a 25% floating DD (but a 135% gain last month), so likely overleveraged. Account shown is now deleted.
EliteFxPT: https://www.myfxbook.com/members/EliteFxPT/elitefxpt-pamm/139625
Short history (1.5 months); 22% realized DD, and another 25% floating DD. Account is now marked as private.
SaltyWatters
Could not get much info about the trading system. I got only a couple of screenshots. Said account was not linked to myfxbook due to privacy concerns.
ChinaHunter: https://www.myfxbook.com/members/chinahunter/chinahunter-instaforex-pamm/153264
Short history (1 month). Account blown off in 3 weeks. Before that there were signs of Martingale being used (days with lots of negative pips were still profitable).
indorebate: https://www.myfxbook.com/members/INDOREBATE/indorebate/157291
Very short history at the first contact (less than 2 weeks). Account blown off in 3 weeks.
If any of the above traders can show me that I was wrong excluding them from my pool of potential account managers, I'll be glad to stand corrected.
Happy trading everyone!
Remus
He who thinks he can, and he who thinks he cannot, are both right. ~ Henry Ford
เป็นสมาชิกตั้งแต่ Apr 25, 2011
262 โพสต์
Sep 21, 2011 at 06:15
SaltyWaters posted:
My account has been up since the day you told me that one could use the investors password to show the stats (a new myfxbook feature that I wasn't aware of).
Look again and tell me if it looks worse than yours? 😁
Oh, I'm glad you used that feature, it's pretty cool! I see your accounts now, and I agree you don't belong in the same category of traders I listed as 'watch out, danger ahead'. But if you really cared about being on my radar, I believe you could have replied saying 'Remus, thanks for the suggestion, I linked my accounts and here they are for you to see my results'.
As mentioned in my post, I had no complaints about you other than that I could not get the information I asked for. If it took you 4 posts and still were not able to give me what I originally asked for from you (the statistics for your trades), how do I think I feel about giving you my account to have it traded? That being said, not many people cared to summarize their results, which says a lot about the seriousness of their money management business.
And what's up with the LOL? Are you trying to say your accounts look better than mine, since I have some losing systems in my portfolio?
Good luck with your systems, this one has nice results: https://www.myfxbook.com/members/SaltyWaters/dwaver-v30/160308
He who thinks he can, and he who thinks he cannot, are both right. ~ Henry Ford
เป็นสมาชิกตั้งแต่ Apr 25, 2011
262 โพสต์
Sep 21, 2011 at 14:57
SaltyWaters posted:
Thanks!
I guess you're right I should have mentioned it to you and I shouldn't assume you would go check my account later.
Anyway. Good luck on your search.
Cheers,
Salty
You're welcome!
I added you to my watchlist, even though the system is holding positions longer than what I'm looking for at this very moment (2 days or less). But there may be a fit in the future ;)
Keep up the good work!
He who thinks he can, and he who thinks he cannot, are both right. ~ Henry Ford
เป็นสมาชิกตั้งแต่ Apr 25, 2011
262 โพสต์
Sep 24, 2011 at 03:37
Another casualty over the week that just ended:
Copett: https://www.myfxbook.com/members/copett/opera-van-java/107647
While not a wipe-out per se, since only 50% of the equity was lost, the account still suffered a huge loss, wiping out all the profits made since the beginning. The root cause: disproportionate lot sizes, maybe for recovery trades. Was trading with 0.02 most of the time, but during the last couple of days killed all the winnings by trading 1.0 and even 2.0 lots.
I appreciate the transparency of having the history fully opened, though, and maybe by getting rid of those large lots the strategy has a chance.
Copett: https://www.myfxbook.com/members/copett/opera-van-java/107647
While not a wipe-out per se, since only 50% of the equity was lost, the account still suffered a huge loss, wiping out all the profits made since the beginning. The root cause: disproportionate lot sizes, maybe for recovery trades. Was trading with 0.02 most of the time, but during the last couple of days killed all the winnings by trading 1.0 and even 2.0 lots.
I appreciate the transparency of having the history fully opened, though, and maybe by getting rid of those large lots the strategy has a chance.
He who thinks he can, and he who thinks he cannot, are both right. ~ Henry Ford
Sep 25, 2011 at 12:45
Hahaha,,,,,,,, Thanks Remus, I can accept this consequence 😄
Last week I do some stupid, I'll take my friend challenge, who can doubling capital in a week will be win Playstation 3. As you know, my system not suitable for races. I over convidence with doing manual trades using high leverage and lost my 50% in just a night. I'm not only lost my playstation, I just throw up this chance too.
I think I'm not ready yet to trade OPM, can't control my emotion, maybe some day if somebody else looking for trader I'll take a part. You have see I lost 50% capital, would you want to see how I try to recover or maybe how I blown my account in the end?? 😁v
Btw, thanks for expectancy, thats my target for the next strategy(still arrange). Good luck for you sir 😄
Last week I do some stupid, I'll take my friend challenge, who can doubling capital in a week will be win Playstation 3. As you know, my system not suitable for races. I over convidence with doing manual trades using high leverage and lost my 50% in just a night. I'm not only lost my playstation, I just throw up this chance too.
I think I'm not ready yet to trade OPM, can't control my emotion, maybe some day if somebody else looking for trader I'll take a part. You have see I lost 50% capital, would you want to see how I try to recover or maybe how I blown my account in the end?? 😁v
Btw, thanks for expectancy, thats my target for the next strategy(still arrange). Good luck for you sir 😄
3-5% Monthly profit, Follow my zulutrade!!
