Performance of the Night Fund: quarterly monitoring

[DesvudescobesS]

Well, it turns out that friends and family want me to operate their accounts. I said yes. I like both trading and seeing positive results that would make it FREE. My reward is to see people�s accounts grow and their positive reactions grow. I�m thinking that in the future I could dedicate myself to this professionally and set up a real fund if I can prove that I�m good. For now I will do it without charging, but I need a way to record my performance. Maybe if ForexFactory�s foreros see the results, they will be encouraged to join. This is not an operations journal, but a performance journal. Every three months I�ll publish results from the fund that I manage through Oanda�s FXManager, including a report with earnings, deposits, withdrawals and a summary of quarter operations. I�m figuring out how to calculate the actual performance, as I usually add capital after closing with benefits, as if it were my pension plan. This starts in January 2008. The first report will come in April. So nothing, thanks for reading and happy new year! Walking towards a membership in the CMECME!

[DesvudescobesS]

Some details about the background I set up with FXManager: I have four funds: Small Fund: minimum $501, operates EURUSD, USDCAD, NZDUSD, USDJPY Medium Fund: minimum $1,001, operates all major pairs Big Fund A and B: minimum $2,001 in each. I operate a mixture of all majors and crosses, 9 pairs per fund (EURCHF, EURCAD, EURJPY, EURAUD, GBPJPY, GBPCHF, AUDJPY, CADJPY, CHFJPY, EURGBP, AUDNZD

[bugwhutor]

Sounds great. Are you operating from a personal account or have you already set up a company? I ask because I want to do something similar in a few months. W

[DesvudescobesS]

I'm not really sure what you're referring to. I'm operating with FXManager using my FXTrade account. The funds are organized as subaccounts. I guess that's incorporating FXManager into my operation.

[TescakiTk]

No, I'm sorry for not explaining well. I meant to create a legally constituted company, to separate your personal assets from those of the fund (so if the fund fails, you don't lose all of yours

[DesvudescobesS]

Yes, the long-term idea is to mount a hedge fund type, but that will be in 10 or 15 years. For now, my goal is to gain credibility as a trader and form a customer base, so my friends and family are like my "Indian bunnies" and have no problem with that. With FXManager I can do it without legal trouble, although they have to sign a power and accept Oanda's standard contracts. Meanwhile, I don't charge anything, I just want to roll the project. Later, if more people come in, I will charge and legalize it with a specialized firm like Green Trader Funds.

[Boesthaisung]

Hilmy, let me slip into your thread for a second just to wish you all the success of the world in this new project that you are starting. I hope this year is yours! Mat�as Mart�nez

[DesvudescobesS]

Thank you, sir! (I suppose by your name you are Spanish.)

[ttcesryesnwz11]

Hilmy, luck with your project! What is the difference between Big Fund A and B? What risk and profitability profile do the 4 funds have? I would recommend that you give monthly updates instead of quarterly.

[JIEsNCU]

Maybe you should consider getting a partner. I don�t know what the laws are like in Canada, but here in the U.S., to form a corporation you need a partner. Although for an LLC you don�t need one, it�s advisable to have one. With an LLC you�re only taxed once, but with a normal corporation, you�re taxed twice.