Can anyone recommend a company or person providing sound and consistently profitable trading and account management? Thanks, Felix
Whoever you choose here's a bit of free advice, don't believe anything anyone tells you or shows you, rely only on real time results! Start small, you can always add to the fund if you see positive results, and if the manager blows up you won't have risked too much. Here's a list of 50-or-so managers who are being tracked, check out some of those equity curves! There are other sites which track performance, just google.
Mostly, but I think there are a couple who use other brokers but they're not 'real tracked'. Just looking at the list it seems the ones that weren't real tracked are no longer followed. It might be useful to list other tracking websites such as.... http://www.myfxbook.com www.collective2.com http://www.mt4stats.com/ Any others?
It should be noted that with sites like Collective2 there is a huge conflict of interest - since they collect kickbacks on a per-trade-executed basis. They have every incentive to make their 'audited' systems look good. That includes editing out 'technical' fck ups on a fairly routine basis. There is a long thread on a german board, where a client got his account ripped apart, yet it never showed up on the stats on C2/bulldogFX since it was just 'technical difficulties' (of which there appear to be a lot). Another problem is that these so called managers are, by large, anonymous. On both C2 and this oanda list. In my opinion, trading OPM is a borderline-scam even on a professional level like funds or CTAs - a lot of people collecting a lot of fees for providing little to no value (the bulk of them anyways). Its all about the fees & kickbacks and getting away with it. Imagine what all these $5K managers are all about.
Whatever the profit performance is provided by Collective2 , simply deduct 60% ...all trades are touch price trades and there are no costs deducted... To give you an example there is a guy there ,while not trading Fx, trades ES and it drumming up fantastic numbers by profiting from one or two ticks...reality is that as they are touch orders... 2 ticks profit won't get you b/e in the real world. NEVER consider any trader unless they provide real time ,real money brokerage statements that can be verified. NiN
I'd heard there was something not quite right about C2 but I didn't know the details, thanks for that. I don't know about C2 but managers on the Oanda list have contact details and/or website links, it's not too difficult to contact the manager and ask for more information. lol, 'borderline-scam', how do you work that one out! Most managers on the Oanda list don't charge an account management fee, they charge commission on a High Water Mark calculation, in other words they only get paid if they make money for the client. I don't know about you but if a manager is making me money I would be happy to pay him a percentage of the profits he's generating, sounds fair and reasonable to me and hardly what anyone could call 'little to no value'! I don't understand your last remark about '5k managers'???
Forget statements, most of the smaller managers aren't going to go to the expense and trouble of having accounts audited, and even if they did it's all historical performance. Look at some of the larger funds, they could show you great performance up until last year then boom! In my opinion the only reliable indicator is real time performance right now, in current market conditions. If you like the returns then increase your investment, if you don't then withdraw your capital, simple and effective.
Precisely....I could have been a little clearer in my comments,but we have both come to the same conclusion.