It’s been few weeks since the last update on the managed trading accounts I am watching or using. If you consider joining some of them, have a look below and see if some of the information is important and can make up or change your mind.
FXFarEast firstly reviewed in October last year totally stopped showing their past performance. I have inquired them and hope to get a response soon (I’ll update this post then).
FXCM managed forex whose minimum was $1,000 is now accepting no less than $5,000. They had a third negative month in a row and the biggest drawdown so far – -7.90% in the Sentiment program and -15.70% in Sentiment aggressive. Painful, no doubts.
Best Trading Systems managed forex accounts, known as Orca and Rusky have their site non functional for several months. Their email is also not reachable which makes me think this service is gone down the roads.
At the time I reviewed DEV I was not yet sure if it’s any good, but I am getting more and more convinced it is. Besides that it’s results are updated regularly, it’s a service which seems to have a sound and sustainable trading strategy. Their months are all positive and the February result is 5.66%.
Not everything is forex. Schwab’s Market Neutral Option Writing Strategy still accepts $10,000 minimum. The last year they closed at great profits of 40.39% (for just five months), but January 2008 hit 21.28% loss. February is better with gain of 7.35%.
Milbay Finance which was picked in January is still doing fine and achieved 3.08% in February. The ROI for 2008 so far is 3.85%. The minimum is still $5,000 which si pretty cool for such a careful trading service.
And finally, after the horrible January GalleonFX made wonderful February with 16.8% profit in my Euro PAMM account. Galleon keeps kicking in March and the minimum is temporary only $2,000, so now is the best time for you to join if you have not done that yet. Full and a bit dated review of GalleonFX is available here.
That’s all from me now, if you have in mind other managed trading accounts and want to see them reviewed and tracked, don’t be shy, let me hear you.
Yes, Best Trading Systems stopped the service, i have become a email from them in Dec. or January. My Ruskyaccount with 7000 $ lost since August ’07 6400$.
Wow, sounds awful. Thanks for the update, Cornelius.
I got an update from FXFareast, they had big loss in February, otherwise they are still working.
Hi there,
Not quite sure how this works, but here goes:
FX FAR EAST – Great, if you don’t mind -70% drawdowns and a trader that buys aggressively the USD as it sinks to lower lower lows. Mr Kim should become a butcher and give up trading. Out for -55%.
DEVRIM – Great, disciplined trader with drawdowns quickly recovered. Live with him for 6 months. No negative months but as they say, the next biggest drawdown is always just around the corner. Up +40%.
SENTIMENT – Great, if you don’t mind 3 months at time going backwards while donating brokerage to FXCM. I’m not sure what market it makes money in, but its not the market of late. Out for -20%.
GALLEON – Great, if you don’t mind equity swings that will rock your socks off. Scary, but you might jag a nice run. I’ll pass on this one, thanks all the same.
GOLD – Great, truly great and it out performed most FX managers of late without leverage applied. I know a fellow who’s created an instructional E-book that show folk how to get some, with leverage. Returns 4-8% a month lately.
Can I say where to get it?
WHO AM I AND DO I HOLD ACCOUNTS WITH THE ABOVE – I manage a private offshore investment holding company and yes we deal with or have dealth with all of the above, except Galleon…plus another that its not quite appropriate to mention here.
Hope you enjoyed my 20 cents worth!
Kind Regards, Adam
Thanks for the very detailed feedback, Adam, pretty much appreciated!
Hi what resources or directories are online to find managed options accounts? do know of any with good long term records?
Thank YOu
My favourite Options MA is http://www.ascendantasset.com. But the entry is to high for the most of us (500.000$).
500k is a bit too much indeed. But the results are really good
Cornelius, I hope you’re joking. They just blew up their accounts to the tune of a 70-80% draw down – why do you think they haven’t posted their results in the last few months? They’re option sellers and premiums have been exploding with the volatility in the market. The only thing worse than being an option seller in a volatile market is being an investor with no clue that you’re invested in an option selling MA. There are much much better MA’s out there right now – pretty much anyone who isn’t an option seller.
Joe, i visit the site last year. I have no 500k and when i have it i don’t invest all my money in one Managed Account.
But please tell me more about your favourites MA’s.