AFX Fund

Rico

Private
Messages
18
Does anybody know anything about the AFX Fund?

They promise returns of between 2 and 25% a month with a maximum drawdown of 15%, but i don't know how seriously to take them. They claim to be run by two experienced traders Cameron Colquhoun and Mark Docherty.

Since i can't post anything but links here, and the main links are to private sites, here are their details

Cameron Colquhoun - Independent Trader/Fund Manager - Adjusted FX Capital Management
Independent Trader/Fund Manager - AdjustedFX, December 2009 - Present, Glasgow, United Kingdom
Hedge Fund Manager - JP Morgan, March 2003 — November 2009, London, United Kingdom
Market Analyst - Barclays Investment Bank, March 1998 — February 2003 Glasgow, United Kingdom
Junior Trader - JP Morgan, June 1997 - March 1998 Glasgow, United Kingdom.

Mark Docherty - Independent Trader/Fund Manager - Adjusted FX Capital Management
Independent Trader/Fund Manager - AdjustedFX, September 2010 - Present Glasgow, United Kingdom
Fund Manager - Blueprint Capital Limited, September 2011 - May 2013
Currency & Emerging Markets Analyst - J.P Morgan, April 2006 -July 2009, London, United Kingdom
Associate - Societe Generale, February 2004 - March 2006 London, UK.

They offer the following information in support of their work:

Track Records
Conservative: www.fxblue.com/users/adjustedfxlowrisk
Aggressive: www.fxblue.com/users/fmsystem Pin:1515

Testimonials
Almog Levi
Student at Accounting & Economics
"Having had my fund now with Cameron for the past year and a half I am delighted with the returns and the trading approach. He demonstrates trustworthiness and has been always able to answer any queries or questions I have had. Being an avid investor, AdjustedFX and Cameron have returned more for me than any other investment in the last 5 years has."
August 11, 2016, Almog was with another company when working with Cameron at AdjustecIFX
Additional client recommendations can be provided, supplied on a mutually agreed basis.

Here's a video about them:


This is their website: http://adjustedfx-capital.com/
 

Pharaoh

Colonel
Messages
19,994
First, contact the FCA to find out if they are supposed to be registered. The domain name belongs to Mark Docherty and he's got what looks like a UK address. It was created on 2016-09-03.

Mark is a very busy person - he's also got a team of data scientists to supervise at one of his other websites (adjusted-data.com) and a bitcoin purchase site at bitcointrader10.com. Does he really have enough time to trade funds?

The site mentions a UK regulated broker, but doesn't say which one. I'd also want to be sure that they don't require clients to sign up through an IB link.

Assuming no IB link, the high water mark for collecting fees is the preferred method of compensating an account manager.

The conservative track record at MyFxBlue doesn't look too bad, but it appears that SL are not being used. One little connection failure at the wrong moment and things could go straight to hell. Oh wait, check those trades - the last one was in February of 2016, months before the domain name was registered. Why isn't there a recent record on the conservative strategy?

The aggressive fund shows massive floating losses. Some orders have TP, some have SL, some have both, and some have neither. At least the trading record is recent, but it's far too risky for my tastes.
 

Rico

Private
Messages
18
Thank you for your comments, Pharoah, i was hoping for ones like this.

With regard to broker, when i contacted them initially, they said they were using Axi UK and IC Markets (Australia). However later on Cameron said they were switching brokers to get a better deal for themselves and for their clients. He said the aggressive account would use FXTM (Cyprus).

I'm more familiar with MyFxBook than FxBlue, so how do you determine massive floating losses on the aggressive account, and some trades without SL or TP?

When i look at the Risk tab i see the deepest valley in their balance is -2.6% and risk of 10% loss is only 11.8%.
 

Pharaoh

Colonel
Messages
19,994
I'm not all that familiar with FxBlue myself, so just dug around.

On the main graph, the default selection is Balance. Click the dropdown and you can find floating P/L. Also look at Equity. You can see this made a lot of money, but then lost most of it (twice!).

To check on SL/TP, Click on the Orders tab. If there are open orders, scroll to the right and you can see SL/TP. You can also do the same by clicking Open Orders and selecting Closed Orders.
 

Rico

Private
Messages
18
Thanks, Pharoah. I saw both open and closed trade before, but didn't see that you had to scroll to the side to see SL and other details (at least on my screen). So what you said made me notice. No SL is a worry.

With regard to drawdown, the floating P/L is also a worry. I forgot that "Deepest valley/Peak drawdown" only refers to realized drawdown, not floating dd.

So thanks for pointing these things out - they wouldn't be things i'd be prepared to go through.
 

Pharaoh

Colonel
Messages
19,994
Some people say I'm paranoid about managed accounts. Over the years, I've come to consider that to be a compliment. :D
 

hitfx

Corporal
Messages
164
I am getting the feeling that all managed FX funds are not good. So the impression is to stay away from such funds. But there must be good funds but they are not advertised for common people.
 

AsiaDev

Private
Messages
20
It's not that they "aren't good" it's that they are mostly not made to last.

If you want 25%+ per month, you must be willing to possibly lose funds.
Big funds that take millionaires etc often do 20% a YEAR. But most Forex traders want those big returns and low DD too. Always look at the DD numbers - you should care a lot more about the money management / DD statistics then how much they have made.
 

Pharaoh

Colonel
Messages
19,994
Bernie Madoff had rich investors shoveling money at him for 10% per year.

25% per month can happen. I've done it myself. 25% per month each and every month is going to end very badly.
 

carnelian

Private
Messages
207
Bernie Madoff had rich investors shoveling money at him for 10% per year.

25% per month can happen. I've done it myself. 25% per month each and every month is going to end very badly.
How 25% per month is going to end very badly? Even if you make 4 profitable months then you are 100% safe. Then if you loss 1 month that would be around 30%. For me 25% per month is quite achievable.
 
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