Services Offered Managed FX Plan by Danny Panilla

Danny Panilla

Recruit
Messages
5
We offer Managed FX plan for clients with Meta Trader 4 broker
Details of Managed FX plan :
Minimum deposit = $4000
Minimum terms = 20 trading days
Commission = 40%
Broker = Meta Trader 4 , EA Capable, non NFA

Please garfieldtrader's Profile | Myfxbook for our trading performance .


Best regards,
Danny Panilla
 

Pharaoh

Colonel
Messages
19,729
Do you require traders to sign an LPOA?

What's the max drawdown before you close positions and cease trading?

Do you have your own website?
 

Chaz McHan

Corporal
Messages
74
We offer Managed FX plan for clients with Meta Trader 4 broker
Details of Managed FX plan :
Minimum deposit = $4000
Minimum terms = 20 trading days
Commission = 40%
Broker = Meta Trader 4 , EA Capable, non NFA

Please garfieldtrader's Profile | Myfxbook for our trading performance .


Best regards,
Danny Panilla
How can you enforce a minimum time frame if it's with an LPOA?
If not an LPOA, are you licensed in your jurisdiction to take client funds and pool them?
Why don't you mention the broker by name?
Are there mark ups on the spread?
Management fee?

Thanks!
 

Chaz McHan

Corporal
Messages
74
Wait, wait, wait...

Sorry... I have a few more questions, too.

1. Why mention that it's non-NFA? Are you making the point that you cannot accept US-resident clients (because that's what the new regulations stipulate about managers using non-NFA brokers)
2. The results you posted were for such a short time-frame. Do you have more? Is it wise to recruit clients after just 2 months?
3. The results you posted are on demo accounts. Do you have any real-money trading experience? Results?
4. The accounts show leverage of 500:1 and 1000:1. This is INSANELY high. It is a statistical certainty that these accounts would blow up eventually... probably sooner than later. How much of this margin have you used? Do you realize that even the largest banks and liquidity providers cannot offer this kind of leverage on very much real money? At what point is it reduced to 200:1, 100:1, 50:1, etc.? After how much money on deposit, that is.
5. Is the broker a true ECN or a market-maker?

I am asking these questions because I want to help you avoid disaster and make a long-term, successful management career for your own sake and for your clients. All these issues would need to be cleared up, addressed and (if needed) FIXED.

Thanks again.
 

Danny Panilla

Recruit
Messages
5
How can you enforce a minimum time frame if it's with an LPOA?
If not an LPOA, are you licensed in your jurisdiction to take client funds and pool them?
Why don't you mention the broker by name?
Are there mark ups on the spread?
Management fee?

Thanks!
We work with EA that will not run properly on NFA regulated broker
No marks up on the spread
 

Danny Panilla

Recruit
Messages
5
Sorry... I have a few more questions, too.

1. Why mention that it's non-NFA? Are you making the point that you cannot accept US-resident clients (because that's what the new regulations stipulate about managers using non-NFA brokers)

We work with EA that will not run on NFA broker
2. The results you posted were for such a short time-frame. Do you have more? Is it wise to recruit clients after just 2 months?
We guess we can say that we have stable strategy
3. The results you posted are on demo accounts. Do you have any real-money trading experience? Results?
We have real acc result but not in full plan ; mixed with manual trading and there were withdrawal Please refer to our myfxbook stats
4. The accounts show leverage of 500:1 and 1000:1. This is INSANELY high. It is a statistical certainty that these accounts would blow up eventually... probably sooner than later. How much of this margin have you used? Do you realize that even the largest banks and liquidity providers cannot offer this kind of leverage on very much real money? At what point is it reduced to 200:1, 100:1, 50:1, etc.? After how much money on deposit, that is.
We can use different trading plan to avoid losses depending the balance if this to points laverage

5. Is the broker a true ECN or a market-maker?
Market maker

I am asking these questions because I want to help you avoid disaster and make a long-term, successful management career for your own sake and for your clients. All these issues would need to be cleared up, addressed and (if needed) FIXED.

Thank you for help
 

Pharaoh

Colonel
Messages
19,729
No LPOA means that the broker's TOS will likely be able to legally cancel all the trades and close the account.

What kind of skilled forex account manager can't afford a simple website?
 
Top