I decided to close my FXCM Sentiment Aggressive managed forex account. To put it simply, the drawdown level went beyond 30% and that’s the max I can take. There is no way I was going to let it slide like I did with GalleonFX (where my total drawdown rearched 60%!).
So far 2008 has been a horrible year for this managed account; just have a look at this:
| 2008 | -3.86% | -15.71% | 6.39% | -4.02% | 1.12% | -9.45% | -0.59% | -0.49% |
From Jan 08 to Aug 08
source: http://www.fxcm.com/managed-accounts/SystemPerformance?id=81
For now the only other managed forex account I’m in is the IPAM Platinum (also at FXCM). I may look for more conservative managed account later on – anything without the word “aggressive” in its title should be fine.
Good luck to you all!
Alan out.