Apologies on the delayed response – we’ve been furiously updating our website to reflect the current status qou as until recently our focus has been on R+D. We can conceed the last update lacked real meat and potatoes but we have been and will be doing more regular posts to seperately announce some new services.

These are some myfxbook links to some recently started live real money account at Alpari UK, that are partly representative of the R+D we’ve been doing, and will reflect the actual product/service clients will receive with our soon to be announced line of new managed account offerings:

http://www.myfxbook.com/members/NewMillenniumInc/nmi-mirror/147230 (a 2 way EA system tha trades EURUSD long and short simultaneously) http://www.myfxbook.com/members/NewMillenniumInc/nmi-swissie/143381 (long only Swiss frans, short the USD and EUR) http://www.myfxbook.com/members/NewMillenniumInc/nmi-aussie/143372 (long only AUD, short the USD, a caryy trade) http://www.myfxbook.com/members/NewMillenniumInc/nmi-gold/143377 (long only Gold, short the USD.)

Keep in mind they are young position trading accounts, give them time to let the edge play out and check them monthly – we believe you will like what you see.

Read only logins available for serious inquiries.

Yes we do reward folks for sending us business – this is how the business of FX works as you know – though it is our preference that such folks actually have an account with us, too.

And for folks reading this who do some trading themselves – the FX Rebate service Mike offers is a way to see some of the commissions that brokers charge ending up back in your pocket – usually via paypal isnt it Mike?

Cheers, Adam :)

It’s great to hear you are excited about the Pendulum EA system, especially you being one of the pre-release testers participating in the latter stages of its development (and with a none to shabby demo test account, too). For me it will be the culmination of a lot of effort over a long period of time and I think all the currently outstanding functionality I have penned might just be able to completed prior to the end of the month – but don’t hold me to that, you know how it goes!

I am glad also to hear of the positive outcome as result of employing the NMi Gold Rush system, dead simple isn’t?. Just keep an eye to the downside, always.

On silver and using the NMi Gold Rush approach – well in theory you could but because it’s so much more volatile, especially to the downside, (down 30% from its recent peak for eg) I view it as riskier proposition than gold which is much more stable in % change of price terms.

Caution is advised given the Bernank’s most recent comments that there wont be any more QE immediately following the end of this round. Some new of decreased inflations expectations. In theory this should lead to USD strength and possibly last friday was the start of such an occurence.

But – who knows what Mr Market has install for us! (and isn’t that whole idea behind the Pendulum system, to not have to care)

Cheers, Adam :-)

When do you think that will be ready for official release?

As for the Goldrush system. I set it up in demo so far and it mades 35% in less than 2 month so far. (slightly more agressive set up than what is recommended…). But will go soon with real money there. If you believe the gold will go on climbing, then this just perfect system.

can’t you do the same for silver (I am not sure the statistic analysis behind the system could prove to be positive for silver as for Gold? )

Thanks for all

Xol

I’d estimate that sometime within the next 3 months the other systems and traders should be in place as some form of NMi Offical offerings – I’ve learnt best not rush into these things and if the traders+systems are of a high calibre they will be around into the future.

Glad you find the Blessing community interesting as well, they are a real model for development of EA’s for sure.

Cheers, Adam

And yes the blessing is a very interesting system, the community behind even more interesting. It will be great to observe how their new commercial system and offer will do.

Regards, Ariel

Thank you for your kind comments.

In reference to your questions:

The statement “official managed account NMI offering” applies to any account we list on the NMi Website and make available to clients. Until such time as it becomes an “official managed account NMI offering” you can consider to be an “in the works project”. Such projects can be of my own making/design which require design/setup of EA trading system and others involve negotiation with traders/designers of systems. Of course all of this takes much time and co-ordination so I just seek to make at least a brief mention of such things in my end of month report.

One account with several systems plugged is possible in several forms, but for now my focus is on finishing some existing projects first before I seek to add any more to my list :)

The Mirror and the Long AUD aren’t offical offerings, again in project status even though I have real money accts running. If and when they do become an offical NMi Account offering they’d really require a USD5k minimum if run individually, or USD2.5k min as a starter for any PAMM system (where accts are traded via master acct that alocates trades to seperat accts) The PAMM model is the one favoured by the prospective trader I mentioned and I believe that USD2.5k was the minimum he was looking at.

The Mirror account uses the same as EA as in the Multicurrecy demo we had running, with a money management tweak on the best pair (EURUSD). Aside from this the EA is run on 2 seperate instances on the one account, one taking longs only and the other shorts. It is a highly developed position trading/cost averaging system, but I can’t credit for its design. However I’ll give you a heads up if you like – visit http://www.jtatoday.com/blessing.html

Trusting this has addressed all your questions, but please feel free to let me know if Ive missed any!

Cheers, Adam :-)

You mentioned yesterday an “official managed account NMI offering”. Could you elaborate a bit on this? What will this look like? Will that propose one account with several system plugged in?

What are the recommanded minimum for the AUD, the mirror and this new developper promising systems coming in?

The mirror looks like a new one, is it an in house built in EA? How does it work?

Your offer looks really solid but the minimum are often quite high. Is there any possibility in a near future to see you offering a pool account that would be diversified in several systems? I really would like to join in a diversify maneer with 5K or so but i do not see that feasible here so far?

I really enjoy what you are doing there so thank you for this and all the best.Ariel

The short story is that the “ideal broker” is a bit hard to find and so far its only been Brokers offering USD and EUR based accounts that have with them the ideal requirements for the Pendulum EA system.

Cheers, Adam :-)

My broker recomendation to trade this EA is http://www.tradeviewfx.com due to its rare combination of terms that ideally suit this EA. US and Canadian resident excluded – I’ll be posting a reccomended broker for US and Canadians later this week but advanced users (US, Canadian or otherwise) of EA may prefer to use a broker of their choice – just keep in mind the points I have made in this offer regarding the ideal trading terms for this EA.

Account can be opened in personal or corporate (or IBC) title, all funds must be to and from accounts of the same title, so yes broker will send to an offshore account, or an IBC/offshore company account as we establish for some clients via our NMi Black label offshore package. In fact thats the only account they will send funds to, and receive funds from. This STD procedure for all brokers, primarily to avoid pooling of funds.

Brokers are bound by confidentiality laws, however these are overriden when the information sharing treaties that exist between your home country and that of the broker are exercised. While its possible that your info may cross broders, typically that wont be the case unless you are target of an investigation.

The broker (tradeview FX) has offices in the US and Canada and the trading is actually conducted on US soil so comes under US regs. The company itself has its benefical owner listed as a BVI (British Virgin Islands) company.

However there two new broker options I am looking into that are domiciled in more Privacy orientated juridictions – Panama and the Seychelles. I’ll have more info on these option later in the week.

Trusting that’s addressed your inquiries but please feel from to post again or else contact me by email.

Cheers, Adam

Always nice to hear from a fellow Sovereign life member, and by all means post a question at that forum too – some other members may care to post their replies.

Regarding the Chrome account: I’ve been keeping the promotion relatively limited, although I’ve known the traders behind it for some years now, and I’m convinced of their ability and experience. And after as many experiences as I’ve lived through, I’ve become both more cautious and at the same time increasingly definite about what it is that can be considered a good risk. Mostly the traders behind Chrome run scalping accounts with what I believe is an exceptional data feed. But, they are still like all scalping systems with their high probability trades versus large stop-loss orders (and consequently unfavourable risk v reward trade ratios). I’ve seen some great progress, as well as seen occasional fairly significant pullbacks. They trade some fairly advanced concepts in their newer accounts, and I don’t think it’s in dispute that they are aggressively geared. And that’s fine if you understand and accept in advance the pros and cons of such an approach – which could lead into another topic in itself.

Regarding that 53% haircut: it actually represented a total portfolio loss in some cases, that is with those accounts that were over-leveraged and not sufficiently capitalized to absorb a worst case scenario. To a greater degree there was already a plan set out for that in advance, in that we specifically leveraged those lost accounts by twice the amount for the range it was intended to trade, and before doing that discussed with those clients the possibility of having to float those accounts through any period of adversity. However, in the event, the simultaneous combination of AUD v NZD strength, and weakness of EUR vs CHF pushed them further and faster than you might otherwise think is “probable” given the core logic of the system (stopless regression to a long term mean average).

None-the-less, I do confess that I hadn’t give enough forethought to the absolute worst-case scenario at the outset which resulted in those losses, and the need to hedge. It’s been the stimulus for a significant overhaul of our systems, and in the month since I’ve essentially been trading all client accounts back to flat, one trade a time in a manner set out via regular and direct communication with each client. Please check back to the blog later today, as I’ll be making a new post with charts and methods to give even more transparency to what’s being going on behind the scenes recently.

From a business perspective, my main focus is on accumulating an attractive track record based on disciplined, hard-stop entry trades with favourable risk:reward ratios. Fibonacci numbers essentially form the core of this method. To apply myself fully, client aquisition and marketing are taking a bit of back seat for me, although I’ve some help in that department, by Gary (who’s also responsible for the creation of this new site).

My thoughts on the PIIGS: Well, usually what occurs when there’s an issue with a country (or the whole global economy right now) is for the government to rack up some more debt on the nation (on their own citizens, actually) and simultaneously creating a whole load more “paper” currency. Of course, the more of it you print, the more it devalues… and that’s a big part of the reason why countries like Australia (which don’t need to print as much money) have kept stronger currencies relative to the others. Nothing new here… it seems EUR is a good short bet, but if there’s one thing I have learned above all else – it’s to consider the worst case every time you open a trade. No matter how sure it seems, no matter how much the fundamentals support the trade… think about where you will draw the line in the sand to take any loss if it goes against you.

So Pete, probably the best advice I can give you is to keep doing what you’re doing: enquiring about the worst case first and keep an eye on where we go from here. If you’ve got anymore questions, I hope we’ll be able to muster a reply worthy of the time it took for you to make an inquiry with us.

Kind Regards,

Adam

Your services were introduced to me via David MacGregor (Sovereign Life). I was particularly interested in your NMI Chrome FX Managed Accounts. I was about to call David and ask if he had had any feedback from his clients about your service. ( I didn’t though!) Instead, I thought I’d go to your site and do more research. I could not find the Chrome account mentioned. Has it been ‘shelved’?

I am pleased with your honest commentary that gives an insight to your trading ‘habits’.

I am however concerned that you took a 53% haircut on the “FX miner”. It suggests to me that you had no firm trading plan in place – a plan that might have allowed for (say) a maximum loss of 20% in any given month resulting in an exit from all trading positions and a halt on trading following a review & monitoring of the market for (say) the next month before entering the market again.

Your comment……

This gives a trader time to develop a trading plan to deal with the situation.

…….. seems to confirm the lack of trading plan to cover amongst other things, a potential belting in the market.

In current times when the markets are extremely volatile, a trading / money management plan is essential…… as it is at anytime!

I am keen to invest with. Can you give me your thoughts on the next few months as the PIIGS get roasted and banks run out of ‘paper’ (Monopoly) money.

Hope to hear from you soon,

Cheers,

Peter

PS – $1AUD = $1USD surely by end of year when the world is yet again in total financial meltdown. What are your thoughts / plans in that event?