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Author Topic: Balanced FX Portfolios - Forex Copy Trading Accounts  (Read 2168 times)

Offline taru

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Re: Introducing Balanced FX Portfolios - Forex Trade Copy Service
« Reply #30 on: June 07, 2019, 08:27:25 AM »
Correction:

Mql5 applies currency conversion automatically.

Signal Start also does it automatically.

Only Simple Trader requires the user to do it manually.

Sent from my SM-G950F using Tapatalk


Online Balanced FX Portfolios

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Re: Introducing Balanced FX Portfolios - Forex Trade Copy Service
« Reply #31 on: June 07, 2019, 08:56:25 AM »

dan,

if i were you i would certainly start another account in usd, thats the most widely used base currency overall. also have a master with a smaller gain then you currently show, that will also appeal to people.

too much in terms of gains does not instill confidence, quite the opposite.

leverage at 500 should be fine.

all the best to ya :)

Hi reinerh,

Thank you for your reply.

I setup a new account with Pepperstone yesterday, which uses USD as the base currency and also has ESMA restricted leverage. I will run this as a 'lower risk' account at some point; targeted at US and European clients who prefer to keep their capital with a broker in their own country, rather than hunt for high leverage with an offshore broker such as IC Markets. This should better match their account leverage limitations; i.e. 1:30 / 1:50.

I will also setup another higher leverage IC Markets account in USD, to run along side the existing GBP one, so that I can switch over in 6 months time and publish straight away on Simple Trader. This will essentially be the 'medium risk' account, as it uses some Martingale strategies, albeit only as a small percentage of the overall strategy.

Both accounts will trade the same manual strategy. However, the higher leverage accounts will have the flexibility of using automated trading systems, too.

I have paying subscribers now on MQL5 and Signal Start on the GBP denominated account, so I will need to continue with this for the time being to ensure uninterrupted service. Simple Trader will not publish the new IC Markets USD account for 6 months, so the GBP account will remain live until then.

I have taken on board what you said regarding monthly account gains. My aim is to keep these to a more consistent 5 - 10% per month going forward, which should be achievable based on historic data from my personal accounts running the same strategies.

I'm going to spend the weekend planning how best to market these signals going forward. I want to make sure I am offering services that are in demand by signal copiers. I'll make no excuses, I am new to being a signal provider, so all of these forum comments are helpful.

Thanks also to taru for the information regarding automatic currency conversion on MQL5 and Signal Start.

Best Regards,

Dan.
« Last Edit: June 07, 2019, 10:28:56 AM by Balanced FX Portfolios »

Offline outsidetheboxhk

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Re: Introducing Balanced FX Portfolios - Forex Trade Copy Service
« Reply #32 on: June 07, 2019, 10:47:59 AM »
Just to let you know and everyone know, my first signal master account  (http://www.myfxbook.com/members/OutsideTheBoxHK/outside-box-part-1-2/2087437) on SignalStart was NZD based and I captured 90 subscribers on their platform at my peak.  So obviously it's not much of a bother. 
Once I started other strategies and also wanted to start a PAMM fund through Mt Cook, then I definitely transitioned into always using USD based accounts and also keeping all of my investors capital in USD, which has worked out well because the USD has been doing very well.
Mt Cook also has a very handy feature when clients / manager uses their Hybrid PAMM investor accts, because they can be exchanged into USD, EUR, GBP, AUD, HKD (and JPY soon) at any time.
« Last Edit: June 07, 2019, 10:50:32 AM by outsidetheboxhk »
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Online Balanced FX Portfolios

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Re: Introducing Balanced FX Portfolios - Forex Trade Copy Service
« Reply #33 on: June 07, 2019, 12:07:32 PM »
Just to let you know and everyone know, my first signal master account  (http://www.myfxbook.com/members/OutsideTheBoxHK/outside-box-part-1-2/2087437) on SignalStart was NZD based and I captured 90 subscribers on their platform at my peak.  So obviously it's not much of a bother. 
Once I started other strategies and also wanted to start a PAMM fund through Mt Cook, then I definitely transitioned into always using USD based accounts and also keeping all of my investors capital in USD, which has worked out well because the USD has been doing very well.
Mt Cook also has a very handy feature when clients / manager uses their Hybrid PAMM investor accts, because they can be exchanged into USD, EUR, GBP, AUD, HKD (and JPY soon) at any time.

Outside The Box,

That's encouraging to know. And thank you for the information regarding PAMM accounts. This is something I will look into early next year.

I currently have just 3 subscribers on my signal but it's early days...

Your 90 subscribers on Signal Start (my preferred platform) is remarkable. Was it just through discussion on these forums that you managed to acquire such a following?

I'm trying to be careful not to spam the forums. However, I do know that I have a decent signal to sell and I need to be a bit more pro-active in building up a follower base.

If anyone would like to subscribe to Balanced FX Portfolios "Alpha" signal, please check out the links below.

"Alpha" is the only signal on offer at the moment and combines my manual and automated strategies. "Beta" will launch in the next month or so and will use manual trading only to suit US and ESMA restricted leverage accounts (1:50 / 1:30). Other strategies will follow in due course. I'm not going to rush things. The key differences between strategies will be made clear, so that copiers can make an informed choice to suit their requirements.

Best regards,

Dan.
« Last Edit: June 07, 2019, 03:33:09 PM by Balanced FX Portfolios »

Online Balanced FX Portfolios

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Re: Introducing Balanced FX Portfolios - Forex Trade Copy Service
« Reply #34 on: June 07, 2019, 10:59:31 PM »
2.33% account gain on Balanced FX Portfolios "Alpha" signal this week.

Have a great weekend all.

Regards,

Dan.

Offline 5ninefish

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Re: Balanced FX Portfolios - Forex Copy Trading Accounts
« Reply #35 on: June 09, 2019, 01:19:55 AM »
Alright, I got an account setup and copying through MQL5. Not too big, but a good starter for now. Looking forward to a great summer!

Online Balanced FX Portfolios

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Re: Balanced FX Portfolios - Forex Copy Trading Accounts
« Reply #36 on: June 09, 2019, 08:39:28 AM »
Alright, I got an account setup and copying through MQL5. Not too big, but a good starter for now. Looking forward to a great summer!

Hi 5ninefish,

Thanks very much for subscribing to copy my trades via MQL5. I really appreciate your support at this early stage of the signal going live. I now have 4 subscribers in total (from both MQL5 and Signal Start) and I'll be ensuring the safety of client funds is my priority. I'll also be striving to make a decent profit for us all.

Do not be concerned about the lack of stop loss. The manual grid strategy I have been using for nearly a year has proven to be very effective month on month. We will experience some drawdown, as with all mean reversion strategies. However, I manage trades well and don't open too many positions that would put our margin at risk.

I'm confident you will be happy with results and thanks again for your support. If you have any questions please feel free to message me any time.

All the best,

Dan.

Online Balanced FX Portfolios

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Re: Balanced FX Portfolios - Forex Copy Trading Accounts
« Reply #37 on: June 09, 2019, 12:31:29 PM »
Dear forum members,

There's more information about me and the strategies I use on the Balanced FX Portfolios website.

www.balancedfxportfolios.com

I will be happy to answer any questions if you are interested in copying my trades.

At the moment copying is only available via Signal Start and MQL5. I should be able to publish on Simple Trader 1 July.

All the best,

Dan.






Online Fastrack Forex

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Re: Balanced FX Portfolios - Forex Copy Trading Accounts
« Reply #38 on: June 10, 2019, 02:47:43 AM »
Maybe you can consider the below:

-do not worry about getting people to invest in your signal, when you get more trading history. People will look for you!
-If DD is low and with reasonable gain plus a bigger capital like at least 10k will really help you get big clients with a longer history.
-Maybe trade an account with dd less than 5 to 10% too.
 8)
« Last Edit: June 10, 2019, 02:52:12 AM by Fastrack Forex »

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Re: Balanced FX Portfolios - Forex Copy Trading Accounts
« Reply #39 on: June 10, 2019, 07:35:55 AM »
Maybe you can consider the below:

-do not worry about getting people to invest in your signal, when you get more trading history. People will look for you!
-If DD is low and with reasonable gain plus a bigger capital like at least 10k will really help you get big clients with a longer history.
-Maybe trade an account with dd less than 5 to 10% too.
 8)

Hi Fastrack Forex,

Thank you for your comments.

Understood regarding the trading history, this is obviously something I am working on and by December I will be able to present a full 12 months to show potential subscribers.

The account was designed to be traded with a minimum $3000 (although base currency is GBP, which was an oversight on my part when setting up the account). I won't change that now but all subsequent signals from me will be denominated in USD. I wanted to start out with that minimum balance to ensure my position sizing is suitable for copy accounts. However, I do plan to grow the account to double figures for the very reason you suggest... I much prefer to see that the provider has 'skin in the game'.

With regard to DD, that currently stands at an average of 15%. MyFXBook reckons 16.45% and Signal Start 13%. I feel that is acceptable for a signal that uses a grid system. I'm not sure I could get this down to any less. However, perhaps I should update the description stating an expected maximum of 15% and not 20%, as it currently says.

These are all useful points for me to take on board and I appreciate you taking the time to get in touch.

Good luck with your trades, too.

All the best,

Dan.
« Last Edit: June 10, 2019, 07:45:52 AM by Balanced FX Portfolios »

Offline Nikolas

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Re: Balanced FX Portfolios - Forex Copy Trading Accounts
« Reply #40 on: June 10, 2019, 01:43:40 PM »
Congratulations for the efforts to present your trading here Balanced FX Portfolios!

Wishing you long term success with this project. If you get longer track record I am sure you can easily get more clients. One thing I want to mention here is that I don't understand why you are saying that it is better to work with accounts with 1:400 leverage on your site? This leverage is over excessive and in the long run not sustainable. Much better to have a little bit more capital in the account than pushing the leverage to the limits. Also drawdown although very good right now can be kept even more tightly under control. There are investors who like smaller drawdown even if the profits are limited. After all at the end what is important for a good strategy is the profit factor. How many times to gross profit exceed the gross loss . If you do 10% gain for the month with 5% drawdown, it is basically absolutely the same as making 40% profit with 20% drawdown. It only ensures the longevity of the track record.

Online Balanced FX Portfolios

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Re: Balanced FX Portfolios - Forex Copy Trading Accounts
« Reply #41 on: June 12, 2019, 09:43:57 AM »
Congratulations for the efforts to present your trading here Balanced FX Portfolios!

Wishing you long term success with this project. If you get longer track record I am sure you can easily get more clients. One thing I want to mention here is that I don't understand why you are saying that it is better to work with accounts with 1:400 leverage on your site? This leverage is over excessive and in the long run not sustainable. Much better to have a little bit more capital in the account than pushing the leverage to the limits. Also drawdown although very good right now can be kept even more tightly under control. There are investors who like smaller drawdown even if the profits are limited. After all at the end what is important for a good strategy is the profit factor. How many times to gross profit exceed the gross loss . If you do 10% gain for the month with 5% drawdown, it is basically absolutely the same as making 40% profit with 20% drawdown. It only ensures the longevity of the track record.

Hi Nikola,

Thank you for your supportive comments.

I agree that 1:500 leverage (which is what the master account trades) is much more than is required to trade these strategies with the lot sizes that I use. When I initially setup this IC Markets account I was using my manual strategy plus two EA's on the same account and wanted to ensure I had adequate margin.

This signal now trades my manual strategies (which account for around 60 - 70% of all trades) and then one EA, which allows for additional trade positions to be opened during the Asian session. It should be noted that this EA will not open any positions if that particular currency is already in the market, to avoid over exposure.

I cannot change leverage on the master account now but I can change the wording with regard to minimum required leverage on my website and copy trading platforms. Although to be fair, it does already state that you can copy this signal with a higher account balance and lower leverage. I will think how best to word this to attract investors.

With regard to the drawdown figures, the maximum average of 15% was hit when I was trading with three strategies on this account earlier in the year. I feel I can get this down to below 10% going forward and still achieve the same results.

I hope those who are following me so far can see that I am fairly consistent with my approach and that I trade using good risk management. I know my main manual grid strategy inside out and have had good success with it on my personal accounts in the past. I also trade a couple of other strategies for when markets are trending, so we have options to maximise profits in different conditions.

As always, forum members are very welcome to put their constructive criticism (or praise) my way. I want to be totally transparent with offering this and future signals.

Links are below in my signature for those wanting to subscribe. Price is just $39 per month at the moment but I will not be able to keep it that low for the longer-term, it is likely to rise in future to compensate me for the amount of time (and expense) it takes to provide these services. I am in the process of setting up VPS to go live on Simple Trader early July.

Thanks again Nikola, all the very best to you and other traders in the forum.

- Dan.
« Last Edit: June 12, 2019, 10:04:51 AM by Balanced FX Portfolios »

Online Balanced FX Portfolios

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Re: Balanced FX Portfolios - Forex Copy Trading Accounts
« Reply #42 on: June 13, 2019, 09:39:48 AM »
I'm pleased to announce that Balanced FX Portfolios Alpha signal now has a total of 5 subscribers.

That's still only a small number but it's encouraging nonetheless. Thanks to those who have put their trust in my trading ability.

The signal has made 3.6% gain so far this month.

Your feedback is welcome, as of course are new subscribers.

Always happy to answer your questions, either in the forum or by PM.

All the best,

Dan.
« Last Edit: June 13, 2019, 02:30:23 PM by Balanced FX Portfolios »

Online Balanced FX Portfolios

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Re: Balanced FX Portfolios - Forex Copy Trading Accounts
« Reply #43 on: June 14, 2019, 09:35:17 PM »
Balanced FX Portfolios Alpha signal posted a 1.66% account gain this week.

A fairly modest profit but it brings us up to over 4% for the month, so far - which is on target.

I have gained a couple more subscribers this week and have also had some interest via email and the website contact form, from copiers intending to start their subscription next week, so that's encouraging.

I hope everyone else has had a profitable week. I'll be at the Institute of Trading and Portfolio Management Super Conference in London tomorrow, so really looking forward to that. It'll be interesting to get some insight from top trading mentors.

https://www.itpm.com/seminars_post/itpm-global-super-conference-2019/

Have a great weekend everyone.

All the best,

Dan.

Online Balanced FX Portfolios

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Re: Balanced FX Portfolios - Forex Copy Trading Accounts
« Reply #44 on: June 17, 2019, 08:46:18 AM »
Encouraging to see more people subscribing to my Alpha signal (see attached screenshot).

One of them has signed up for 6 months of copying, it's just a shame MQL5 won't release payment for that until January 2020!

I also have one more subscriber on Signal Start this week. The Simple Trader account is all setup and should be published first week of July. I'll add a link once that goes live.

I have never been more focused and disciplined with my trading as I am now, and I'm confident subscribers will be pleased with the performance going forward.

Here's to a profitable week for us all.
« Last Edit: June 17, 2019, 08:49:11 AM by Balanced FX Portfolios »

 

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