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Statements: Accounts: Forums: Brokers: Stuff: The
mini fund Disclosures: Forex
risk
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We're
not quite ready yet, but here's the general idea:
It's now possible for us to handle as little as $1000 fully automated. You open an account with Interbankfx.com in your own name, a mini with a minimum of $1000. It needs to be a Metatrader 4 based mini account. You'll have to sign a the LPOA (Limited Power of Attorney) form. It also stipulates the fee, which is 20% on profit at this point. No profit no fee. Send me the login details and I can apply my EA to the account. So no worries about skullduggery for both of us, it's all handled by an impartial third party, which is also the way we set up the companies for Project 50. When that portfolio reaches $10 000 - $20 000 it will need to move into Project 50, but we'll negotiate that when the time comes. Some ground rules: 1. This is high risk trading. Do not borrow money to do this. The possibility that the account might wipe out will always exist. 2. Do not expect this to solve any financial problems overnight. A portfolio this small can take up to 2 years to reach a meaningful amount. 3. If you draw on the account it will take twice as long to grow, so expect to leave the account alone for a year or so. 4. Do not draw any money without letting us know before you do. It will change the values of the equity and margin and will in all probability cause a catastrophic crash of the portfolio. We have to clear the portfolio before you do draw on the account. 5. If you open any trades in that account that the system didn't open, it might block the system from trading. We see one of those go through we switch off the EA permanently. 6. The system will lose money from time-to-time, easily up to 20%, if you interfere we switch off the EA permanently. |
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| | June 30, 2007 | | ||||