About a month ago, I started to conduct research online to find some good performing Managed Forex Account to invest in.
Let me first talk about this one particular program I am really excited about. Its past performance is incredibly good. In addition to being shown the past brokerage statements, I was given read only access to a LIVE account trading with over $20K real money. I was able to monitor the trading in real time on a forex trading platform. It did not take long before I decided to open my own account. This managed program typically requires $20K minimum investment, but I was able to join with $10K during a promotion.
Here is its historical performance after I made some adjustments based on the brokerage statements I saw, and AFTER deducting the 40% incentive fee(40% is the highest fee for accounts < $50K, the more the investment, the lower the fee):
2005/10: 20%
2005/11: 31%
2005/12: 19%
2006/1: 24%
2006/2: 34%
2006/3: 39%
2006/4: 4.5%
2006/5: 34%
2006/6: 6%
2006/7: 16%
2006/8: 9.6%
If I invested $10K at the beginning of Oct. 2005, I would now have $81K in my account after all fees! Now you know why I am so excited. There is a saying "when it looks too good to be true, it is probably not true". But based on the overwhelming evidence I have seen(what more can I ask for in addition to LIVE account access?), I am convinced this one is for real, the trader really knows what he is doing.
So I got my forex brokerage account opened and funded last week. I was hoping that my account would be traded right away, but it was not. I was told by my introducing broker that the head trader's wife is deliverying a baby! So new accounts will start trading next week. In the mean time, I saw there were a few more trades in the other live account and made a few hundred dollars more profit :( oh well, need to be a little patient.
Update Nov.1:
The trader had problem with setting up the PAMM system with the broker. So I had to move the account to a different broker, I funded the new account with $5k. My account finally started trading on Oct. 27. By end of Nov. 1, my account equity is up over 9%! The trader seems to always make money while I am sleeping. Every morning I wake to find the account grown by 1-2%. I am currently also monitoring another live account managed by this trader. That account equity is up 40% since Aug.20 (before deducting Oct fees).
Update Nov.11:
I have seen steady gains almost daily. There was a bit volatility near the end of last week due to the rise of EURO, but my account recovered most of the gains by Friday's close. Account is up 13.5% in November. (Gained 6% in last three days of October, and paid 2.5% fees)
Update Nov. 17:
Month to date up 17%
Jan. 20, 2007 Update: The trader did NOT use stop loss and I lost the whole account ($5000) is Nov. 2006! It shows that forex investing can be very risky due to high leverage, it all depends on the traders' skill.
