PAMM Account Discussion

Hi guys,

My name is Kenny and to myfxbook, congrats on a very nicely presented site.

I hope that this is not considered as spam, but I assume that the point of this site is to match traders with potential clients.

Accordingly. I thought I would set the ball rolling for people that may be looking to invest.....

I have set up a PAMM account with Forex.com so that people may invest with complete peace of mind. For those that are not familiiar with the PAMM system, it stand for Percentage Allocation Management Module. I control and trade a master account at Forex.com and when people invest, they open an account in their own name at the broker. They also pass their funds on to the broker. The broker then connects all the sub-accounts of my clients in the master account. The benefit of this system is that, other than electronic trading access, I cannot lay my hands on your money.

Bottomline is that, although you can still lose through market activity, at least you will not lose through fraud. Another benefit is that the broker has their own reporting system ensuring complete transparency.

My system consists of several robots. There is a slow growth consistent and stable one, and this is augmented by some scalping. The scalping consists of some familiar Asian session scalpers, as well as some less known scalpers. There is also one or two propriety scalpers. The scalping tends to be fairly dynamic, with me changing pairs and robots as need be.

Anyway, I will try answer any queries as opening and honestly as possible and here wishing every one the best of luck.

Regards

Kenny

Much better to put down your stats and let potentials contact you, as apposed to putting it in conversation. Bit like having a Jehova's at the door, they're going to tell you how they see it whether you want to hear it or not.

These portfolio's are to new to take on money for clients.

June, July and aug so far has been very unusual in the context of the last 2 years, USD index moved less than 1 point on avg, compared to the 4 points it normally moves, have to see at least a month or two of 'normal' before you'll know if this portfolio is working or not. Range is down 75% on normal. So any ranging type system will make money.

What happens when the range returns?

Actually, I am not forcing anyone to take part, or listen to anything I have to say. The results are there for people to see and decide for themselves(the purpose of this site, or have I missed something?)

The last 3 months have hardly been a walk in the park as far as scalping goes......I look forward to the return of some normal market action.

Probably still crossed the line...

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Hi stephanusR,

Fair comment, however, I am not sure I agree that keeping my trades private equates to lack of 100% honesty.

The purpose of this site(for me anyway) is to showcase the performance and the open trades are not relevant for this purpose. The value of open trades is important to know - yes!.....but not the actual trades. This is 'nice to know' stuff and clients have access to this information through the interface that the broker has provided. Frankly, if some-one is advanced enough to analyse my trades, then they probably don't need me......they can trade for themselves.

I am not sure why you say you cannot know what my realtime mtm profit/loss, as the information in right there for the whole world to see?

You can quite clearly see what the drawdown is by comparing the equity on the info>>stats tab with the deposits lower down. If you prefer to consider the equity mtm as the true performance, that is fine......ultimately equity is all that matters.

I would love for Myfxbook to chart the equity on the same graph as the balance, along with the free equity(ala onix-trade style) as this will give you a fuller picture of drawdown, as well as the risk level you are trading at.

Removed by Staff.

So, are we in agreement that potential clients have all the information they need to assess the performance?

The way I trade my system will result in typical floating drawdowns of 0% - 25% which I consider to be acceptable. The system does need time to grow the equity and is, regrettably, not a get-rich-quick scheme.

I am looking at improving the performance and you may want to look at the other 2 accounts under my name. They are both similar to this profile but with a new broker which will result in better performance.

stephanusR, I can appreciate what you are saying......when it comes to soliciting clients, it is important to present all the required information without slanting it. There has been a discussion elsewhere on this site about rating the various systems here. I fully support and look forward to the time when Mybookfx comes out with this rating system as I am confident that my system will stand up and be counted.

Hi kenny, nice stats! I'm like you looking for potential clients, do you think we can help each others?
Keep up the good work :)

Removed by Staff.

stephanusR,

The stats are not incorrect. You simply do not understand what you are looking at. The performance that you are seeing is a weighted figure that has taken the effect of deposits into account.

Furthermore, you are totally missing the point of my system.......I have a drawdown of open trades of 12.2%......however, this drawdown is paid for. That means that if I choose to close the trades now, the balance will be greater than the deposit. However, I am holding onto the trades in accordance with a specific strategy that will resolve itself at some time in the future. Call this an investment for want of a better term.

This is the second time that you have made a comment under my system that is totally incorrect. Now I am totally open to public comment on my trading, however, I can only suffer so many fools. Perhaps the time has come for you to stop showing your ignorance and focus on your own trading, which I see can do with some attention.

I also see that you have been doing the rounds of other systems clamoring that it is fraudulent to have open trades! I would suggest that if you have an issue, take it up with the site owners.

compuforexpamm posted:
That means that if I choose to close the trades now, the balance will be greater than the deposit.

Correct the balance will be $9 greater than the deposit or 0.3% not 27% as it is at the moment.

What exactly is your point?

Your mathematics is technically correct, however, it is not representative of the performance of the system.

Even if you take the profit of $401 as a % of the $3051 deposit it only comes to around 13%.....do you know why? Probably not because, and I am repeating myself here, you do not understand what you are looking at! It is a weighted figure factoring in the effects of deposits over time.

Your simplistic mathematics also totally ignores the value that I have tied up in the existing trades, a drawdown that is paid for, I might add.

You can try and twist the figures to suit yourself, however, there are accepted norms when it comes to presenting these numbers.

Once again, my responsibility is to submit accurate statements to Myfxbook and they, in turn, present them in their own format which is out of my control. I do not understand why you feel the need to run around and try understate the numbers with your mtm concept.

Removed by Staff.

stephanusR posted:
 You only had one deposit thus there was no 'weighted factoring' of anything, just a mistake that can be corrected if you send a system message.

Oh my gosh, what planet are you from? There have been 3 deposits not 1. This is the 3rd time now that you have presented blatantly incorrect facts here on my system discussion. As I said, you do not understand what you are looking at..........you need to get your facts straight son!

stephanus,

Check this screenshot. It shows you where to get the balance information.

Please feel free to ask if there is anything else you do not understand.

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stephanusR posted:
    The account equity is $2489, the total deposits is $3051 , thus the net loss is: -18% and not 16%abs gain. Now this incorrect display of the system performance isn't your fault. Would you agree with my request to the site owners that this has to be corrected, the only thing that should be displayed when doing a search is the real-time value of the accounts. AFter clicking on the account one can then view the Abs. gain etc.

StephanusR, we are aware of this issue and it will be addressed.

Please refer to issues in the suggestion box or by privately contacting us as this does not belong here.

Thank you.