Managed forex accounts

Week 10

Update for week 10, sorry it is a bit late, but it was my birthday on the weekend and I am just getting over it so these figures are up to 21.05.08. and not 10.05.08 as they should have been.

Account A. Bal. 9329.33 pounds. Loss on week of 72.55. Total loss after 10 weeks = 670.67.

Account B. Closed.

Account C. Bal. $19516.30. Gain on week on $1.39. Total loss after 10 weeks $152.19.

A loss of $150 on the week and still a loss of $1500 after 10 weeks.

I was certainly expecting better results than this, but patience is required.
 
Week 11

Here is the week 11 update.

Account A. Bal. 8951.88 pounds. A loss of 377.45 on the week. A loss of 1048.12 pounds in total.

Account C. Bal. $19670.50. A gain of $154.20 on the week. A total gain of $2.01 in total.


Wow what a week, one account is actually in front after 11 weeks. Ok perhaps a small sum of $2.01.!!!!!!!!

Still a loss here of over $2,000 and all in all including account C, (Closed), a loss of over $8,000.
 
Interesting. Open a managed account has been in my mind for a while.

There is one firm keeps sending me emails, asking me to sign up their forex managed account. And he has sent me statements to prove that they are profitable.
 
BREND said:
Interesting. Open a managed account has been in my mind for a while.

There is one firm keeps sending me emails, asking me to sign up their forex managed account. And he has sent me statements to prove that they are profitable.
Click to expand...

All I can say to you is that after 11 weeks with three managed accounts and I am losing $ by the bucketful so I would not advise anybody going down that route at the moment. I know the markets have been volatile recently, but surely that is what is needed to make money.

I will carry on with the two remaining accounts until one of three things happen. They hit my stop loss, they win big money or the account is pretty stagnant and I could earn more in interest in a bank.

If you do decide to open an account I am sure there are plenty of others here who would like to know the results.
 
Email me if you want a full list of reviewed managed forex accounts. I do due diligence on over 50 companies. I have 3 traders that are doing amazing.
Gio
 
Week 12 update

Account A. Bal. 8984.33 pounds. Gain on the week of 32.45. Total loss after 12 weeks = 1015.67 pounds.

Account C. Bal. $19748.46. Gain on the week of $77.96. Total gain after 12 weeks = $79.97.

Well this is the first week I have had an overall gain from both companies. Ok only $150 but it is an improvement. Still down just under $2,000 from an initial investment of $40,000.:clap:
 
Week 13 update

Account A. Bal. 9459.21. Pounds. Gain on week of 474.88. Total loss after 13 weeks 540.79 pounds.

Account C. Bal. $16855.96. Loss on week of $2892.50. Total loss after 13 weeks $2812.53.

As I thought things were improving a big loss of nearly $3000 in account c was a big blow. Now back to around $4,000 loss after 13 weeks. Plus the $6000 loss on account B. Not very impressive. I am coming to the conclusion that if these people relied on making money from their commission to live then the results would be much better or they wouldn't still be managing accounts.

As far as my research went before I opened these accounts, each company in question never showed a loss on their published results for a cumalative loss for 13 weeks. Account C did manage to have an overall gain for two weeks, but really insignificant when compared to the account balance. which leads to the questions ''were their published results accurate?'' or ''Was I being told a pack of lies?'' Judge for yourself.(n)

Gamma if you are reading this, I am beginning to understand your dislike for managed accounts. LOL.
 
Week 14

Account A. Bal. 10056.94 Pounds. Gain on week of 597.73. Total gain after 14 weeks = 56.94.

Account C. Bal. $14687.43. Loss on week of $2168.53. Total loss after 14 weeks $4981.43.

Account A has managed to gain on my initial investment.
Account C has managed to get close to my stop loss.
 
dutchy124 said:
Account C is scalping Cable.
Click to expand...

If they are scalping then how come the draw downs are so massive? I'm still concerned that such a huge account percentage can be lost in such a small time frame.

Account A has a much better feel about things - ie less dramatic swings.

Have a good weekend,
Steve.
 
Week 15 update

Account A. Bal. 10211.31 pounds. Gain on week of 154.37. Total gain after 15 weeks = 211.31

Account C. Bal. $13147.23. Loss on week of $1540.20. Total loss after 15 weeks = $6521.26

What can I say? Initially I had the most confidence in account B, due to the fact I trading in their live signals room,the first to go. I have spoken at length to Andy from Account A and am confident he is a nice chap and will be well in front after a years trading. Account C is going the same way as B and this will be the last week unless some drastic gains are made.
 
Week 16 update

Account A. Bal. 9970.31 Pounds. Loss on week of 241.00. Total loss after 16 weeks = 29.69.

Account C. Bal. $13066.32. Loss on week of $80.91. Total loss after 16 weeks = $6602.17.

Account C looks a total failure and will be pulling the plug this week.

After 4 months I am a total of over $12000 down not too impressive is it. My advice is to steer well clear of managed accounts unless they have been recommended by a friend who has had an account traded for some time and gained profits. I will not be getting involved with any more managed accounts except Account A which I will run with for now.
 
Week 17 update

Account A. Bal. 9970.31. This is the same as last week and obviously no trading has taken place in a volatile market.

Account C. Bal. $12975.62. Loss on week of $90.70. Total loss after 17 weeks = $6692.87.

Due to my wife being in hospital I didn't get the chance to close this account. I have done so this morning.

Account C was managed by Pinnacle Resource Management Inc.
 
Pinnacle

so their results are fake ?

* Months with asterisks have open trades. As mentioned above results are based on realized profit and loss and do not include open trades. Again please note that if at any time during the trading cycle your account reaches a 25% loss then all trading will be stopped and you will be notified immediately. (This has not happened to date)

** During this month some of our master accounts encountered variables which were beyond our control, (ie. account adjustments due to trade liquidation). Some of our clients may have experienced much larger draw-downs than publicized on our site. Please inquire for further more details.
Click to expand...
what on earth is all that about ?

who the hell ARE these people ?

Are they qualified ?

Are they licenced ?

(n)
 
Week 18 update

There has been no trading on Account A this week.

Accounts B and C have been closed.

I opened all three accounts after researching the companies in question as much as I could.

It is not easy if people don't give an honest opinion of the company if they have had first hand knowledge of them. I have would not now open another managed account. Account A will stay open as long as the draw down is not excessive and hopefully will gain from these turbulent times and in the end start making a profit.
 
Week 19 update.

No update this week as account A has not traded.

Many apologies Colin, must have missed your email, can you send again?
 
Week 20 update

Account A. Bal. 9762.05 pounds. Loss on week of 208.26. Total loss after 20 weeks = 237.95.

What can I say?
 
Week 21 update

Account A Bal. 9151.62 pounds. Loss on week of 610.43. Total loss after 21 weeks = 848.38.
 
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