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Fx Power Club - Growth, Hot Forex PAMM (de Forex Trader 45547 )

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Discussion Fx Power Club - Growth, Hot Forex PAMM

Forex Trader 45547 (fastpipsjpy)
Apr 23 2012 at 02:05
posts 105
Hi there, nothing to update at this second....both trades are within 10 pips of Fridays price when I posted the last update above. Hopefully we will have some movement soon. :) Thank you...

skymania
Apr 23 2012 at 14:13
posts 44
lxboston
Apr 23 2012 at 14:25
posts 38
Crap..

Brains always tell it how it is, while balls get it done.
Forex Trader 45547 (fastpipsjpy)
Apr 24 2012 at 17:30
posts 105
Thank you for your patience, our trades are still live and active in the market as they have been for the past few days. Have a great day!

skymania
Apr 25 2012 at 09:44
posts 44
Some bad data for the brits, finally :)

Forex Trader 45547 (fastpipsjpy)
Apr 25 2012 at 13:28
posts 105
Yes....great news for our account, but it is not sticking as much as I would have hoped. Today is a new day and we will see what it brings! :) Take care.

davem5
Apr 25 2012 at 16:33
posts 6
Thanks for keeping us informed!

Forex Trader 45547 (fastpipsjpy)
Apr 27 2012 at 08:32
posts 105
Greetings,

As you may know, we have not placed any new trades for around 2 weeks now as we have our large EURCHF trade and EURGBP trade running live in the markets. There was hope for Swiss National Bank's Jordan to speak about raising the peg for the EURCHF today during his talk about 20 minutes ago, but that did not happen. He did, however, state clearly that he would defend the 1.2000 peg at all costs and the price is currently at 1.2013. The EURGBP trade is the one that is pulling our account down dramatically. If you are a forex trader, you will recall last week April 17th, there were 4 news releases for the EURO that were all much greater than average, including the CPI, Economic Sentiment, and Manufacturing data.....one was the highest for years. After this fundamental news we added to our current EURGBP long/buy position and since then it has turned against us. We did have a moment of momentum when the GBP has some negative news the other day, but then today Spain had its rating dropped by 2 levels and our trade was hurt once again. We monitor these trades nearly 24 hours a day and have full access to news feeds, etc to better help with our decisions. We have been in drawdowns prior and recovered without much issue and are hoping that this time will be the same. We scaled out of a small portion of our EURCHF long today, but still have large orders in both currency pairs. We plan to post another update here tomorrow...thanks for reading and have a nice day as we continue to do our best.

Forex Trader 45547 (fastpipsjpy)
Apr 27 2012 at 08:39
posts 105
One last note until tomorrow....there is mounting pressure on SNB's Jordan to raise the peg in the EURCHF from 1.2000 to 1.3000, he is not ready to do this yet, but if it does happen, our account would rise to well over $1,000,000+ with our current order size in that pair. If we can get even a smaller rise to 1.2200, we would be in nice profits for everyone...only time will tell and we will do our best. Thank you.

skymania
Apr 27 2012 at 19:48
posts 44
Thank you for your update.

Forex Trader 45547 (fastpipsjpy)
Apr 29 2012 at 04:29
posts 105
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...

Syed Shahid Rizvi (shahidrizvi)
Apr 29 2012 at 06:18
posts 4
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?

Syed Shahid Rizvi (shahidrizvi)
Apr 29 2012 at 06:19
posts 4
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
Apr 29 2012 at 06:27
posts 6
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
Apr 29 2012 at 11:46
posts 44

 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. 😀

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
Apr 29 2012 at 13:23
posts 101
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
Apr 29 2012 at 14:28
posts 5

   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

Forex Trader 45547 (fastpipsjpy)
Apr 29 2012 at 15:22
posts 105
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.

Forex Trader 45547 (fastpipsjpy)
Apr 29 2012 at 18:13
posts 105
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
Apr 30 2012 at 06:08
posts 6
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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