CalvinT

Nope havn't been with them from the beginning, i'm also in the drawdown club, I think its about time to change it to a self traded account and just go long on EUR/USD the fed just keeps pumping money out.

As far as Galleon goes I'm rather disappointed.

Adam

Hi there,

Managed FX accounts fairly much follow the same pattern of success of self traders..ie 95% lose. Newbies beware, you will get taken, that much I guarantee you.

I was, like a lot of folks, rather tempted to enter after seeing that massive 75% month with Galleon....it's called greed.

What concerned me was the fact they had revised their syste or rather completely revamped it...and now they are adding more filter sto it! Jeesh, I guess they are saying their system sucked.

Generously they lowered their minimum to 1k instead of 25K...I wonder why?

Luckily I knew of a fellow who had small account with them and in his own words "you can see up to 20% swings in equity sometimes even on a daily basis" Now that volatile and sooner or later that degree of leverage can bit and bite hard.

So, I resisted my urges, after being burnt a number of times (ok, call me a slow learner!) I am beggining to get wiser. Doubts started to creep in when they posted a nice follow up month in the money...should I or shouldn't I? Well, my view was if they are any good they'll be around in the future.

Well, the rest is history, as are most folks accounts with them, but it seems there are a never ending supply of newbies to prey upon...while they lose you money they make big on brokerage commissions. Sometimes iIreally do wonder is thats what its all about for some of these companies..ie...brokerage commssion on the trades....and if they make profit for clients, well geat, they get a slice of that action as well.

Call me a pessimist if you may....I like to call it being a realist.

Analyzing the merits of managed accounts is not easy..don't be fooled by simple performance numbers alone - it is ALOT more difficult than that and takes a high degree of trading competency to really analyze the risks...and even then ther's no guarantees.

The best money managers are swallowed up before you get hear about them at retail level - why would they bother with 1k accounts when they have million dollar clients?

I suspect you'll do well to follow the suggestion of simply buying EUR as the US continues printing more and more money, gutting the value of the dollar - no one can argue that. I came to this realisation a while ago, went long on JPY, CHF, EUR, AUD and GOLD all against the dollar. Only wish I jumped on this earlier.....a simple one way trade, add to you positions as it moves in your direction, take some money off the table occasionally allowing for adequate money management when the market moves against you.

I've even developed a simple EA to follow the trend (rather, I had a programmer do this...I'm no techie)

For most folks who haven't traded before, it seems all too hard, but its not so hard as you may think....got a half an hour spare and I'll show you how...and yeah, there's a catch! Interested in knowing what it is?? Just ask me.

My 20 cents worth, trust you enjoy!

Cheers, Adam

allinvain

No Adam, not interested in what it is..but I'd just like to toss some vitriol at GalleonFX. Their managed account has been horrible ever since I joined, and even back a bit before that. That 78% win was a pure fluke.

I will close out my account for good really soon. I wish all the folks that are still sticking around the best of luck.

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Adam

Hi Allinvain,

Can't say I blame you not being interested, the sales pitches never end - do they?

Maybe others will be interested in a 1 - 2 trade a month long term buy only gold system that a 10 year old could operate. I've an account I can supply logins to that shows the system in action....so devastngly simple you'll wonder why you aren't doing the same right now.

Galleon is an absolute joke by comparison....so is the best FXCM's team can muster..and most other managed FX accounts I've looked at or been invested into.

If gold rises over the longer term it's a winner, it only goes long on gold and just uses a leveraged broker account instead of physical gold. Pure and simple.

Takes half an hour to learn at best, costs less than a $100 (I suspect Galleon has taken more than that from you) comes with a 110% money back guarantee and you are in control. I'm only too skeptical myself....but I've thrown alot of money and time at this business, to me there are few better legitimate options IMHO.

Although it won't break any records, most folks should be happy with:

January 2008 4.8%
February 2008 8.2%
March 2008 4.3%
April 2008 4.3%
May 2008 4.0% (as at 21-5-08)

This is at minimal leverage...as in less than 4:1 maximum.....live running - NOT a backtest and I've the account running right now for clients to view. The results backdated from that point are equally impressive. Try finding ANY managed FX account that can make those claims. In fact, show ME just one with those results at 4:1 or less maximum leverage and I'll give you a $100.

Click here to see the dates, times and prices - Results

Competent traders will figure the system, glad to pass it on, and anybody else interested is going to have to part with less than $100 bucks for a complete instructional product (eBook and video tutorials) that will guide newbies all the way from opeing the account to placing and managing the trades....but those bucks will be some of the best spent in this online business. I've not had one person ask for their money back, no ones lost a cent trading it and almost everyone but for the most recent purchasers have made balance gains. Did I mention its involes 5 minutes a month to maintain?

It's worthy, very, I stake my reputation on it. If I had invested all the money I've lost for the last 5 years in this, I'd be a millionaire now. It's that simple....now I better get back to it! Got folks who are taking me up on my offer of one - one complimentary tutelage as a special offer this month.

My 20 cents worth.

Cheers, Adam

Adam

Hi there,

Haven't visted here for a while but I thought you may be interested in how the 5 minutes a month gold trading system (that almost anybody can use) is coming along.

January 2008 4.8%
February 2008 8.2%
March 2008 4.3%
April 2008 4.3%
May 2008 4.0%

(Last update)
========================

June 3.7%
July 2.91% (to date)

I have all the data and brokerage statements for those with genuine inquiries. Also can provide references.

Have just signed up my first official managed account by LPOA at North Finance and am doing something a little special - client is going to hold multiple accounts in different currencies (EUR, CHF, JPY and GBP...maybe even some USD - 5k in each) to protect against currency fluctuations over the longer term. All will be traded in gold.....kinda like his own mini hedge fund of sorts but through a managed account. Neat huh?

I'll keep you posted on results...for anybody else that's interested, click here.

Now for those wanting to learn how to do this themselves, click here, price has INCREASED to $497. For that you'll get some ongoing one to one tuition in addition to the instructional videos - but really, to make it economically viable you've gotta be looking to place 5-10k minimum AND be willing to set aside 5 minutes a month to maintain.

Cheers, Adam

ste_uk

Hey, i would just like to add that i bought the instructional book from adam about 4 months ago. I had never traded before, and too be honest never even thought about it as i thought it was waaaayyy beyond me. Guess i was a little wrong, already made £2000ish, but this was with me tweaking the system. But the good thing is that i know have the system as a good backbone to all my own trading. Still even though the price has gone up, its still sooooo worth it....well thats the end of my little story (or the beginning, looking forward to when gold hits $1k+ )

P.S. T'is worth just asking Adam a few things on skype if you have any thoughts/reservations...you got nothing to lose

JoseLeon

Northfinance is closed..., do you mean fxpro?

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jazzz

Hi all,

I am really surprised that most of you had such a bad experienced with these people. I thought this platform is good. You opened my eyes....thanks

I am connected with Finexo last 3 years and i found the managed account facility quite good. these people take care of our funds quite nicely. The average monthly return here is 3.5%. I am feeling so lucky after reading your experiences.

Thanks