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Update on a live account

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  • Update on a live account

    Just thought I'd stick a post about my FX Amplified account since inception.

    I started following Amp back in Febuary about a month after inception. I stuck him on a 10,000 GBP account and just thought I'd share my experience since then.

    I'm quite a firm believer in keeping risk low. I am the opposite of Nick who can stomach risk - I simply can't do it, so I like to keep my risk portfolio across all my accounts (Even my small ones) relatively low. I started off leaving my risk at 1 for the first 3 months. I then started to get swayed, and thought.... can this guy loose? I think most people were thinking like this by this point, so I started to increase my risk. Things were going well so I increased my risk a little more (by this point I was up to almost 5x risk).

    BOOM - The trader has his first looser... No real damage, my account is still in the black.

    I quickly reduced my account back down to a risk setting that I'm comfortable with, and since then hes had a few bad months which have been hard from an observers point of view. Sadly the increased risk made a real dent in my overall growth as I increased it days before the initial loosing trade.

    Its been a tough few months for Amp but so far this month he's had a few nice trades. I hope he can continue to recover and come back on top as the superb trader that he is.

    To date my account stands at 11,659 with the large loss (due to my own stupidity) which took out -620 (some might say that less than 10% loss is nothing to worry about, but I'm not one for high risk )

    Any way, I'm up ~16% since February running a low risk account and I'm still strongly behind this trader. Its hard to sit by and watch 3 bad months roll by, however I invested in this trader based on my own research - and must commit to him for atleast 1 year to show results. I believe he will prevail with a good year, maybe not as strong as the past but still acceptable!

  • #2
    Thanks Will, great post!

    I think FX AMP really got an undeserved bad wrap. This is an excellent signal. A look at AMP's master account show 30% growth in 10 months, with a draw down under 10%. That is "Rock Star" stats in the real world of investing which explains why AMP has such a large amount of funds under management.

    Unless your trading a very risky signal, you really need to give the trader a solid year IMO. Jumping in and out of signals is no different than jumping in and out of trades during a news release and chasing your tail. The problem is that most traders view FX as a "get rich quick" type of investment and have the attention span of a 4 year old on a sugar high, which is why 95% of traders loose all or most of their accounts within 6-12 months. Human nature will never change, that statistic has held true since retail forex began to become popular among retail traders about 12 years ago and I fell into that "95%" myself starting off.

    I think your going to be very pleased with AMP over the next couple years. As Viper would say, "Slow and steady wins the race". Not that you can't earmark a portion of your risk capital to riskier signals, I think that is a great idea, but the bulk of your investment capital should be in safer (by FX standards) signals like AMP or Viper. If all goes as planned, after 1 year I feel I can also include my conservative signal in that group, we'll see.

    Happy Trading!

    "The trend is your friend - until it bends at the end"