Fx Power Club - Growth, Hot Forex PAMM (by fastpipsjpy) Quick Stats
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Fx Power Club - Growth, Hot Forex PAMM Discussion
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fastpipsjpy

Member Since Mar 18, 2010  105 posts Forex Trader 45547 (fastpipsjpy) Apr 29 2012 at 04:29
As the market is now closed for the weekend I thought I would update on the status of the account. Currently, we are still in a sizable draw down and will be planning to close many EURCHF trades Sunday evening when the market opens if the trades do not turn in our favor shortly thereafter the open. Closing these trades will free up more margin for the EURGBP trades and allow more breathing room for trading. As you may know, we have not opened many new trades over the past weeks due to the the EURGBP and EURCHF trades using most of the margin. After speaking with a few investors and getting their thoughts on whether to close the large draw down and lock in the losses, vs. scaling out or leaving them run a bit more, the answers were evenly mixed. For those in the program who wish to close all trades, simply contacting Hot Forex to close your account will have your trades all closed at the nearest market level possible. Then, if you wish, you can open a new account and begin with us again once we are out of the draw down. It is good to know that any investor can remove their funds at anytime if they are not comfortable with the trading. Our EURCHF trades are good trades with little risk exposure due to the SNB protection. The EURGBP is the pair causing around 85% of the draw down as we got caught in the large downward move last week when news was released a bit earlier than planned by the UK. Normally, we prefer to be out (or scaled out) of trades prior to large news events as not to get caught in surprise data. We have had 11 or 12 winning trades setups in other accounts over the past 5-7 days, but could not place these in this account due to the margin and risk exposure presently active. In the future we will cut risk exposure greatly, as listed in the previous posts....likely limiting to a set risk per trade or group of trades. We have also been in talks to setup a trade copier service so that clients can copy our trades in their own live account automatically....and...they can each control the lot size/risk per trade on an individual basis. Many clients want larger gains (and therefore more risk exposure) as they have smaller accounts, while some clients want smaller consistent gains on their much larger accounts and the trade copier would allow this. Either way, we will do our best to work through this situation and move forward into the future. Have an enjoyable weekend and thank you once again...

shahidrizvi

Member Since Apr 28, 2012  4 posts shahidrizvi Apr 29 2012 at 06:18
Dude the current draw down is 84.71%. I dont think any professional trader will have more than 50% draw down. I don't understand what happened to your low risk trading style?

shahidrizvi

Member Since Apr 28, 2012  4 posts shahidrizvi Apr 29 2012 at 06:19
Jason why did you de-activated your facebook a/c. Guys there is something fishy with this PAMM A/C, how can a successfull trader has 84.71% drawdown? I have feelings that all our money is gone....

UrbelT

Member Since Feb 15, 2012  6 posts UrbelT Apr 29 2012 at 06:27
Not all of our money is gone, just 84.71% of it... ;)

Anyway, who ever said this was low risk trading style? You've seen the kind of returns he is getting, by no means do these kinds of returns equate to low risk trading style, and more often then not, all Forex trading is considered very high risk in general.

We'll see how this plays out.


If it doesn't make money, it doesn't make sense.
skymania

Member Since Mar 08, 2012  44 posts skymania Apr 29 2012 at 11:46 (edited Apr 29 2012 at 11:48 )

 For those in the program who wish to close all trades, simply contacting Hot Forex to close your account will have your trades all closed at the nearest market level possible.


Doing that at 85% DD (75% accual if you ask me, they have some wierd DD calculation) ? Hmm not my first choice i must be honest. I guess im all in now :) You just got to love the adrenalin. Bungee jumping is for pussies comparing to this at this stage :)

Jason i WOULD love the trade copier. grin

P.S. to all you cry babies. Forex is a risky investment. Don't invest if you cant afford it. You all clicked AGREE when creating the account didnt you ? So let the man do his thing. Hoping for the best.

 

BigSteve

Member Since Nov 23, 2010  73 posts BigSteve Apr 29 2012 at 13:23
This is my first time in a PAMM.
My question is if my account falls below 500.00 will it be excluded from trade when the platform is restarted.
So will I need to add funds if I fall below 500.00?

smarthedging

Member Since Apr 22, 2012  5 posts smarthedging Apr 29 2012 at 14:28

   BigSteve posted:
   This is my first time in a PAMM.
My question is if my account falls below 500.00 will it be excluded from trade when the platform is restarted.
So will I need to add funds if I fall below 500.00?


your account can't fall bellow $500 you will get margin call before that and all position will be closed,
best regards

fastpipsjpy

Member Since Mar 18, 2010  105 posts Forex Trader 45547 (fastpipsjpy) Apr 29 2012 at 15:22
Greetings,

Your account will not be margin called if it is below $500, this is simply the minimum to open an account. If you think of it logically, it would not make sense to not allow a $500 account to ever go lower, or anyone with a losing trade at the start would be closed. As far as I know, any size account will be treated equally once it is opened, so a $500 can fall well below $500 and have no issues...to clarify, if the $500 account gets margin called, then the entire managed account and all accounts in it will get margin called as well. I hope this helps to clarify. All account would be margin called at the exact same time as all are an equal percentage of the total PAMM account size. There will be more updates coming soon after we see the market open. Thank you.

fastpipsjpy

Member Since Mar 18, 2010  105 posts Forex Trader 45547 (fastpipsjpy) Apr 29 2012 at 18:13
Thank you for the kind words in these current conditions. We are a few hours away now from market open and will see how things go from there. More to come soon.....thank you.

rahforex

Member Since Aug 09, 2011  6 posts rahforex Apr 30 2012 at 06:08
Guys please stop whinning. Forex is not for the faint of heart. All you guys talking about professional traders dont do this and dont do that, then just go to that trader. Dont play with money you cant afford to loose. Forex Trader 45547 keep up the good work. You cant win all the time. PEACE

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