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Hot Forex PAMM, FX Power Club - Growth (By Forex Trader 45547 )

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Hot Forex PAMM, FX Power Club - Growth Discussion

Forex Trader 45547 (fastpipsjpy)
Mar 17 2012 at 21:45
105 posts
Greetings,

I understand. Of course any trader at any company can trade with any result of course at any time. I will type a much more detailed note here in the next few hours. Thanks!

Forex Trader 45547 (fastpipsjpy)
Mar 18 2012 at 03:20
105 posts
Greetings,

I will address the current drawdown the best I can here. As you know we have recovered from any drawdown and have always followed with new highs. For those in this PAMM more than a couple/few weeks, even if we closed all the drawdown trades, they would still have profit as we have had a steady 2-6%+ growth on average per trading day. The first investor with only $500 is up over 1000%+ percent (over 10X) on their account account balance before any performance fees. We have a great system and a consistent strategy that has shown to consistently produce week after week. We have never had a losing week, and have only had a few losing days since inception. This PAMM account is not a joke, it is not run by a sham broker trying to steal your money, or some gambler looking for a rush to risk all of your accounts....this is serious business and we respect that. We run this account with the latest trading computing technology, multi-monitor setup, backup internet connections, redundant power supply, mobile connections, live news squawk and custom data feeds, and the highest quality support in the business. Any negative comments will no longer be answered here, thank you.

Now, to address the current account. The strongest signal setup we have received for quite some time was to be long in EURCHF. As you know (if you are a forex trader), there is a lot of news, background, and gossip surrounding this pair. It has been almost flat for weeks/months before rising greatly this past week. Since we make interest/swap, we have usually had a long/buy position on this pair most weeks, last week we finally got to reap some of the rewards. With the Swiss National Bank promising to not allow this pair to be below 1.2000, we felt that all other things being equal (which of course they are not), this was a moderately low-risk trade. After banking the wins long last week, we waited for a retracement to enter again to upside. As you may know, the pair has fallen steadily the past day and we have added to that position as it dropped. Our strategy, which is much more than I can type here, is to be long above 1.2000 and the pair is still way above that point, however our larger order size trades are negative. Our own funds are being traded in this account so our money is right along side yours and we only get paid new commissions on profits above the high water mark, so of course, we take this seriously.

Our trade robots were used quite often for the first few weeks, but after having several losing sessions (which we manually traded back into profit), we have decided to greatly limit their use. We have not had the robots trade for the past 3-4+ weeks and will likely remove them from the program soon, or, only use them when we are not able to trade with a small order size setting. One group of trades we are in a drawdown with is from the robot trades so we have deactivated them and will slowly scale out of any losers tomorrow or early this week. We also took a sell entry into Oil near the end of this past week, only to have it go against us quite quickly with fear of a pipeline break or war talk...see this link for more...there was no news or real reason for the rise, so we are hoping for a correction after market open: https://www.forexlive.com/blog/2012/03/16/crude-cilmbs-higher/

Our current positions are short oil, long eurchf, long eurgbp, and long euraud.

We hope to exit with a much smaller loss than the current drawdown, plus a small percentage of it is due to weekend spread widening that occurs right before market close. Our hope is for oil to fall just a bit ($1-$2) after market open, but there is chatter that Israel may attach Iran, so we are hoping to exit before any large spike upwards. Once we can get up on plane and even out the drawdown we will slow our aggressive strategy for a bit as we continue trading the same way we have for months now, but with a smaller lot size to accommodate our clients. The art of trading for us is not a problem, the largest frustration has been the dozens and dozens of emails from clients requesting a more conservative approach, more requesting a faster growth, others only emailing us negative messages on down days, but not saying anything on up days, etc. We have always done our best to reply to emails, calls, forum posts, etc within 1-2 hours on any day, but to better insure the integrity of the PAMM account, we will take some of the email response time away and apply those efforts to making profits. We will still respond to everyone, but as the number of clients has grown greatly (and those pending with live funds have mounted to great numbers), we simply cannot keep up without more support unless we lose focus on the act of trading. So, that being said, please understand that we will respond to everyone, but it may take a bit longer during the market hours. Please refrain from the negative comments if you can, they do no good to anyone.

Thank you for your time once again,

:)

pyeman
Mar 18 2012 at 12:32
9 posts
youngchang
Mar 18 2012 at 14:57
390 posts
Hello 45547!!!,

I really hope that the markets move to your hope and expectations and recover your equity soon.

Good luck

davem5
Mar 18 2012 at 19:01
6 posts
Forex Trader 45547, Thank you very much for taking the time to explain your trading strategy and current trading situation, it is greatly appreciated. It all sounds very well thought out. We PAMM investors put our faith in past performance and invest in your management hoping to profit. So far, you have been exceptional! My past PAMM experience with other managers has not been very good, with two crashes with what appeared to be very successful managers. I know that was not you, and I have faith that you will continue to prosper and we will profit together for a long time. My best wishes and most positive thoughts are with you for continued success! Sincerely, a loyal investor

Forex Trader 45547 (fastpipsjpy)
Mar 19 2012 at 18:44
105 posts
Thank you for the kind words. :) It seems that this page here in myfxbook has not updated for nearly 12 hours. Hopefully they get things cleared up soon. We had an interesting group of trades with OIL today. There were a series of long OIL trades we held over the weekend. As you may know, OIL shot up around $2 per barrel on Friday and we experienced a small gap up when the market opened yesterday. We managed to exit around 1/4 of the open trades today, then we received a call from Hot Forex. It seems the OIL contracts were supposed to expire on Friday afternoon (as they always do once per month), but ours remained open. Like Hot Forex always does, they said they would close the open trades (3/4 of our total placed last week) at the price from last week, which saved us some drawdown...but they were closed all at once, making our new $5,000 daily profit negative. They have also agree to credit our account with the same and better, price from last week on the losing OIL trades we closed earlier today, although this will take up to 24 hours. Overall, it was another great act of service by our favorite brokerage.

As expected, our largest trade in the EURCHF has remained nearly flat today. We had a nice $11,000 profit selling GBPJPY last night that allowed us to cut some of our drawdown. We are long in EURAUD, EURGBP, and have added a small amount to USDCAD after cutting some losers there also.

We are working diligently to get our account out of the drawdown and we're happy it is decreasing nicely today. Once we get it more reasonably dialed in, we will close all trades and allow the dozens of new traders in who have been pending for almost a week now.

Have a great day!

Forex Trader 45547 (fastpipsjpy)
Mar 19 2012 at 18:46
105 posts
Some of you have asked for our Hot Forex link, so here it is.... Enjoy!

https://www.hotforex.com/?refid=8253&bid=dbd2db94

Please use it if you want to open your own personal account for your own live trading.

Thank you for your support.

pyeman
Mar 19 2012 at 22:01
9 posts
Absolutely brilliant job so far in dealing with the drawdown. I am sure are all behind you and confident in your abilities. I am very pleased that you are my Fund manger keep it up. Paul

Forex Trader 45547 (fastpipsjpy)
Mar 19 2012 at 22:33
105 posts
Thanks Paul! :) I'm not sure why myfxbook is not updating, but we have made back around $30,000 in equity so far today. Hopefully tonight and tomorrow will go just as well. Thanks for the positive feedback!

Forex Trader 45547 (fastpipsjpy)
Mar 20 2012 at 03:57
105 posts
We are having a nice night of trading and have cut the drawdown dramatically, but it is not showing here yet. You can see the info here for now, although there is not the same excellent detail as myfxbook: https://pamm.hotforex.com/managerdetails/?l=58974123512456235445547&usermode=0 Thank you.

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