Tuesday, February 12, 2008

Galleon FX - problems, crisis or opportunity?

In one of my posts I asked myself: Galleon FX - managed forex, is this the key to real profit? I have entered into managed forex in October 2007 and had some good times with them and also bad times. But most of time my equity was higher than initial deposit. But in January and February Galleon FX did perform very bad. If I look at my equity today, I from the date I opened an account up to now my initial deposit has been lowered by 35% of initial deposit.

One would say that Galleon is not working well. In fact on first glance this is correct, but I personally will stay with Galleon as some of investors start to closing their accounts. From my point of view this is not correct decision, as Galleon proved to be rather stable and they did always recover from down trends. Take a look at graph:

In February this trend already starts to turning, and it may be a sign of coming uptrend. Galleon FX reacted to to recent draw down and now is minimum deposit for opening an account just $2000. So another reason to take advantage of Galleon.

The truth: my feeling is, that managed account are not suitable for investors who have some knowledge in Forex markets. My February performance is much better than one of Galleon. But it is a trade of! I can't trade Forex every day, while Galleon can make me profit while I am asleep, on vacation or doing other work.

No comments: