Since few months I am observing the performance of a managed account known as “DEV”. It’s managed by a trader from Boston who’s said to have 16 years of experience.
You can find the full details about this service at Managed Forex Pro
There are very few managed account which accept only $5,000 and at the same time the trader knows what he/she is doing. At least based on the results, DEV seems to be pretty safe – as long as this can be said for forex trading.
I don’t have experience with this service. If you are already using it, please share.
In my opinion it seems rather promising. I shall be in touch with Managed Forex Pro soon for further information – and of course to eventually invest.
Hi,
I think at the moment you can enter into forex managed funds for a min. of $1000 at GalleonFx and FXCM Sentiment Aggressive Fund.
Both performing quite well though risks exist at all time.
Cheers !
Buzz
You are right Buzz, these both still accept just 1k. Galleon is very volatile last few weeks though, I hope they’ll get more stable soon
Thank you for mentioning us (managedforexpro.com) in your blog. Apart from DEV, we are working with couple of very good experienced local traders. We hope to open their managed accounts to public in the next couple of months after we run some initial test accounts ourselves. You can follow my blog (linked on our site) on regular updates on the account performance (including draw downs). By the way, we also offer Sentiment Fund at a reduced 1% management fee instead of 2% fee. This is a very good managed account in my opinion and I have put a big chunk of own money into it. The minimum will be raised to $5K from $1K on December 1 by FXCM.
Hey nice to see you here, Sha, thanks for the additional info.
FYI: Sentiment Fund – had small losses for Dec 2007 & Jan.2008.
I joined FTK Capitol LLC via FXCM and have experienced about 14% in 6 weeks . Their trader is called Searchlight.
What’s the minimum in this FTK Capitol, BB?
I did join the DEV 3 months ago. It was OK I guess until I started paying attention to what was happening. Well there hasn’t been any losses or major DD’s. But there is a huge degree of sloppiness involved. I have seen my account going up for a couple of hundred bucks to finally end up in a loss for the same trades. Yesterday for example had 6 Short positions open EUR/USD for around 1.5696. price moved down to 1.5509 and backup again to now for 1.5662. well PFG as usual had some technical problems and I couldn’t monitor my account for hours. but just as I check the daily report guess what “all trades were closed with an small loss”. in my case it should of been at least 4% profit if the trader had closed trades on time. it is hard to wait for the price to turn on you for 190 pips and you just sit and do nothing. it is the second time that this happens. it is significant because trader does not trade often. I feel like an idiot getting involved in this money making game for the shitty brokers. I am going to close account. I believe one of these days it will eventually go to a big loss.
Good luck.
Ross.
Thanks for this quite detailed comment Ross. I hate missing bit trades myself which seems to be frequent in many MAs. It’s typical for the automated trading systems, but I thought DEV was not automated
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