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#1 April 4, 2008 10:00:00

BeFocus
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How to pick a good FX Manager?

Take some, wait for adding some more position.

[ April 04, 2008, 10:08 AM: Message edited by: BeFocus ]

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#2 April 4, 2008 10:10:00

CuongVC
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How to pick a good FX Manager?

quote:
Originally posted by WhipSawFX:
Better than that hoodchat,
have a good day

you t/p ? I kept some for the number [Roll Eyes]
Cuong

Yes and ready to re-enter short.

"Keep some for the number" is a good idea.

[ April 04, 2008, 10:14 AM: Message edited by: CuongVC ]


Cooperation is good. Appreciate it and Ignore the negativity.
vccuong1@yahoo.com

I am building my track record... http://www.myfxbook.com/members/CuongVC/trackrecord/92703

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#3 April 5, 2008 07:48:00

andyinkuwait
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How to pick a good FX Manager?

I am currently running a managed account for a few colleagues from work.

Does anyone realise that these sort of returns (100's % a year) from accounts would have the manager snapped up by an investment bank but NOI if they were using high leverage and NOT if they were scalping and NOT if the draw down was too high. More modest returns might be better to look for.

I use extremely low leverage for consistent returns.

I'm at andy@andywaller.com if you want more detail on this and a methodology. I live and work in Kuwait and am UK citizen and am a pretty sucessful low risk trader

[ April 05, 2008, 07:49 AM: Message edited by: andyinkuwait ]

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#4 April 5, 2008 08:07:00

Xaron
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How to pick a good FX Manager?

quote:
Originally posted by andyinkuwait:
Does anyone realise that these sort of returns (100's % a year) from accounts would have the manager snapped up by an investment bank...

I have to disagree. [Wink] If one work for a bank, capital protection is the highest goal. Often you are not allowed to produce drawdowns higher than 10%. That's a MUST for bigger funds, and it's ok! But with less capital it's not impossible to produce gains around 50-100% per year - higher risk of course. If I would trade with more than 6 figures accounts I would not need to create 100% per year. It's that easy.

Also using big money you can't trade the same way as you just can't open such big positions in relation you'd use with a small account.

Regards - Xaron

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#5 April 5, 2008 08:13:00

andyinkuwait
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How to pick a good FX Manager?

Yes I would agree with this comment but my view is to preserve capital as a priority. Thats probably why I don't get massive returns but the investors feel happier allowing me to manage larger sums of money..

Also agree with opening big positions using big money...however leverage is still the biggest problem with consistent performance IMHO

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#6 April 5, 2008 08:17:00

forex87
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How to pick a good FX Manager?

what does the account balance have to do with proper money management and trade size when you look at it in its' true form via percentages?

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#7 April 5, 2008 08:21:00

Xaron
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How to pick a good FX Manager?

Forex87, you just can't open single positions above 10-20 million in the cable. Ok, you can set the order but you get a worse fill and higher spreads then. With a real big account you might move the markets by yourself a little bit.

The psychology isn't easy as well. A 30% drawdown for a $10k account is easy to handle. But with a $10M account it's a different thing. No investor would trust someone real money if the drawdown exceeds 10-20%.

I agree to Andy, capital protection is indeed the highest goal for real money.

Regards - Xaron

[ April 05, 2008, 08:33 AM: Message edited by: Xaron ]

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#8 April 5, 2008 09:36:00

BeFocus
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How to pick a good FX Manager?

I am with forex87. Percentage is the key, at least up to some level, say to 8 figures account (?) It's a long way to get there so I just focus on percentage for now and long later.

BeFocus

[ April 05, 2008, 10:14 AM: Message edited by: BeFocus ]

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#9 April 5, 2008 09:46:00

andyinkuwait
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How to pick a good FX Manager?

Yes, the risk on focussing on high percentage returns is basically that you will blow up the account. If I invest $1000 or $1000000 I do not want the account blown up as money is still money. This is why I try to preserve capital as the main priority not conduct high risk trades which have a chance of blowing up the account when the trade goes wrong. Money management and modest leverage is the key to all good trading (that and discipline)

Regards

Andy

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#10 April 5, 2008 10:19:00

BeFocus
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How to pick a good FX Manager?

High rate of return does NOT 100% lead to high risk. Low skill trader can have low return high risk, high skill trader can have high return low risk.

That's why we have to learn, do our home work, practice, ... to sharpen our skill.

Regards,

BeFocus

[ April 05, 2008, 10:22 AM: Message edited by: BeFocus ]

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