February Company Update

App, OTC Update & MAM

Due to the coronavirus outbreak, the month of February was full of unexpected moves in the market. To find out how we handled it, and what’s new, read our update below!


App

In an effort to better display the data Week over Week for our MAM members, we have decided to build a stand-alone single-page web app to display the progress visually. However, this information will represent the total MAM results only, and not the individual results. We must wait for a partnership with the broker, or open our own exchange prior to accessing the personalized account data which will happen in phase two of this app.

You can read more about the app on our roadmap here.

OTC Update

We have obtained all the information required by the OTC for the first round of comments. Although the OTC fee has increased the annual fee as of Jan 1st, we are still pursuing the re-submission this week. 

We aim to have the process accelerated quickly from here on out, but once again the processing time is out of our control.

We have already anticipated the next round of comments from OTC so that we can be prepared to resubmit the requested information once they ask for it. 

Nevertheless, this round of commenting should address and resolve one of the three major problems for this shell in particular. The shell name is still yet to be announced until the commenting period is satisfied, the shell is 100% approved and operating normally. 

Forex MAM (Multi-Account Manager)

February Overview

Globally speaking, this was the worst week in more than 10 years for the S&P 500 which fell 11.5% over the 5 sessions. It was historic and it will be remembered. Not only did stocks get crushed, but treasury bond yields made all-time lows, energy fell 16%, financials fell 13%, tech fell 11%; all amidst a burgeoning global coronavirus panic.

The month of February for us started off pretty well with +2.1% in profit for the last three weeks. The last week with some of the panic sell-offs, we had to close a few drawdown positions to protect capital, and make sure we don’t suffer any bigger losses.

On Friday the 28th, we saw very large bounces on our positions which is opening up great opportunities to add positions into our portfolio so we can benefit from this expected correction.

Our positions went into monthly zones which are very large and the reversals on such are strong. We are expecting strong bounces from these areas and to recover the prices from here. We already saw a large rejection, which is a good indicator. We’ve already entered these positions and closed a few in profits. Upon retracement, we are looking to re-enter to continue the trend.

AUDUSD, for example, touched prices that we saw back in 2008. From those zones, the price has significant bounces.

That being said, this is the market, and we trade what we see. The good thing is – even when people panic, there are opportunities to profit.

Portfolio Stats

Total January return: -4.4%

Note:

Past results do not guarantee future results. Because we are running a MAM, performance can differ from one sub-account to another. This can be due to differing start dates, available liquidity, slippage and account sizes. Performance figures are gross and so before any PlutusX or other fees have been charged. 

Closed Trades

127

Long Trades 

101

Short Trades

26

Avg Trade Duration

6 days

Winning Trades

48

Losing Trades

77

Breakeven Trades

2

Max Drawdown

6.3%

Max Runup

4.1%

 

Trade Recaps

For trade recap videos join us on Telegram here.


Suggestions?

We are building PlutusX with you, the members, in mind. We embrace and encourage feedback or suggestions. Please email us here or find us in our community chat.

(Please do NOT make assumptions about our unannounced OTC ticker but simply do your due diligence and use the information that’s available)

ANY QUESTIONS RELATING TO PRIVATE OR “INSIDER TRADING” WILL BE IMMEDIATELY DISREGARDED.


To stay up-to-date with our progress, and to send us feedback or suggestions, join our community chat here.

Subscribe to our newsletter

Do you want to stay up to date on all of our progress and announcements?

Enter your email below and you will be added to our newsletter.