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New Millennium, inc

Forex and Commodity Trading Services


NMi+Mid-May+Update

Last month’s results from our primary managed account service provider were released a little too late to make it into NMi’s usual monthly results update, so I thought we’d take this chance to make a short follow up to keep you fully informed.

  • Sparrow 8.6%

    Somehow, we missed this in the April Results update too!

    As mentioned in that report, the brokerage that offers the Sparrow Managed Account programme is currently undergoing restructuring as they move away from the retail arm of their business. If you are interested in opening a Sparrow account, we recommend that you sit on the sidelines a while longer until the restructuring process is successfully completed.

  • McLaren 13.91%
  • Precision 3.41%
  • Vega 0.47%

    The traders of these accounts are also affected by the same brokerage issues as the Sparrow account, but they have already established relationships with two other brokers, one in Panama and the other in the UK. Considering their unbroken run of reportable month-to-month trading results, you can certainly open, fund and have your account traded without issue at your choice of those two brokerages.

    The McLaren account has been the standout performer of these 3 accounts, thanks to some big strong moves in the market place of late, which that system thrives on. Currently, we’re recommending McLaren if you’d like some very good diversification away from the predominantly scalping strategies they run otherwise (such as the Precision account).

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Breaking+NMi+Pendulum+EA+News

Well, this post has been much longer coming than I would have liked – it’s taken me this long to climb back out of the Bat Cave… I mean the EA R+D Room. But, I have some very good news for you! Much has happened; there have been many new developments, functions and error handling – all of which have the NMi Pendulum firing like it’s never seen before. It really is on the verge of commercial release at this stage.

We think that we made a real break-through last week, with a completely revised setup that was tested in live FWD conditions first, and then we spent about 50 hours more optimising the SETs required for it to run on 7 different currency pairs. We know this is a more robust setup, if only because it now runs successfully on 7 currency pairs simultaneously – where we’ve struggled before to get it to run on anything more than 4 pairs for any extended period in backtesting.

Let’s examine some numbers generated from the latest testing:

  • we started with just a US$1,000 account, which is very small for the aggressiveness of this setup;
  • in just 4 days of trading it made 26% in realized gains, with all positions successfully closed on Thursday evening;
  • over that 4 day period, Pendulum traded 14.3 full 100k lots, or the equivalent of US$1.43 million worth of currency;
  • it generated 14.3% in trading volume rebates on that US$1.43 million traded;
  • the total net profit to trader, inclusive of the trading volume rebates, was just over 40%. That’s 10% per day.

It’s hard to believe that’s possible, but it is and here’s the proof:

MyFXBook NMi Pendulum Results

Please be sure to keep in mind that the above demo was made by running Pendulum extremely hot – nuclear hot! It will not be a surprise to see this test account margin called, and it is not what I recommend to traders of the EA do unless they fully understand the risk involved. A much more sensible option would be to trade it on a USD5k account with a 2k drawdown limit, and with that exact same setup you could still see 20% a month alone in trading gains, plus around half that again in volume rebates based on the live FWD testing. By the time it becomes a commercial release I suspect that compromises aimed at improving the EA’s robustness in the market will peg that back some – but I trust this blog reveals some of the potential I see in this system, one that is absolutely unique to NMi and we’re proud to be able to claim that.

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