August MAM Update

August Return Table

Monthly return: -5.5%
Drawdown at closing: 0%

Past results do not guarantee future results.

New MAM Team

We officially hired our new MAM Team and fully replaced the older one. While we tried to work with what we had, we came to the conclusion it was the best for the account to go flat, and implement our new team ASAP.

Here is an excerpt from our CEO in the Community Chat: 

I made the effective decision to stop the bleeding from going further and allow this opportunity to make the proper transition to the new team. The new team will be starting Monday which includes one head trader and 4 analysts.

So if there is a single person you can be mad at you can be mad at me. Our previous message is still relevant. We will get back to break even and aim to shoot for greater ROIs moving before the end of the fiscal year.

I think we just ate at our profits from last month. I know… it’s stressful I think we all aged 10 years. But the anxiety is gone and we are on a fresh start.

However, I pulled the difficult trigger in full faith of the new team’s capabilities. They will begin early this week.

Our new team consists of the following:

  • One head trader
  • 4 analysts

Our head trader is responsible for all order executions and portfolio management. He will be scouting the market for profitable setups that meet our portfolio criteria.

The analysts will provide additional support to our head trader to find swing positions and keep an eye on other markets while the trader is managing current positions and/or looking at his primary markets.

Primary Markets

  • Gold

Secondary Markets

  • US30

Pete has 4 years of trading experience, but unlike most traditional traders, his approach is different. Pete looks at the market from a different perspective which gives him a big advantage over other retail traders. While they look at time charts and other tools, Pete dives right into price action which gives him surgical entries and risk management with precise execution. He is a specialist to market tide and short term targets.

Over the last two years, Pete has been teaching a private group of people his strategies and systems which have proven to be successful (and one of them being our CMO Patrick). These traders who have learned the ins-and-outs of working with Pete are now his analysts. He received an offer by another hedge fund a little over a year ago to take on a portfolio more than 25 times the size of ours, but he declined. Money was not a motivating factor for him and the team. 

When our CMO Patrick got back in touch with Pete about our current needs, he was intrigued by our vision and saw the problems we were facing. Right off the gate, Pete saw the opportunities with our company and how he can help us get the MAM back on track.

Here is a new statement from the new Head Trader:

“Life is a journey we embark upon without answers. I believe having the confidence and motivation to seek the experience and to find those answers is what can make us great. Dedication to our craft, our passion, our ideas, and our goals is what assures us we aren’t stagnant in life.  

Hello, Im pete 🙂  I have heard through the grapevine that PlutusX clients weren’t satisfied with all the red they have been seeing. First thing I believe to do is to thank the management team.  Yes, your accounts look a little light at the moment, but all is not lost. The hardest thing to do is pull the plug deep in the red. Stopping the bleeding to heal the wounds is the first step to recovery. Step one complete. Next step is for you to understand that I hate red trades 🙂 I hate them with a passion just as much as you do. I have never seen trades which were “that red” for “that long” with  “that much volume” on this sized portfolio, as you all have over these last few months. Those days are gone, done, finished, bye bye, whatever gesture is comfortable for you, use it. 

We stopped the bleeding, check. We understand that we will never be in heavy drawdown ever again, check. Now let’s go over some of my trade plan to assure you that we can only go up from here. We may not go up as fast as you all came down,  but rest assured we are going to sail back into the direction of paradise. Calm and Steady.   

Im 37 years young. I use strict risk management parameters, objective rules in my setups, and have a burning desire for success. The charts are a passion of mine, you will see samples in due time.  I am a price action trader. My kind is hard to find. Market structure, patterns, and drawing tools are what the 90% of the industry is influenced to learn. Well guess what, 90% of traders are losers. I follow a market maker / trapped trader philosophy with proprietary techniques I’ve developed over the course of my career.  We will experience being “flat” A LOT. Flat meaning: no open positions floating in the market. My team of analysts and I look for places retailers are under pressure and trade against them. We are able to utilize small risk (from 0.25% up to 3%) to achieve moderate to high rewards when correct, AND/OR small win/small loss/break even when incorrect. If you feel you would like to know a little more about my trade plan, feel free to reach out to me personally or through the community chat.”

Righting this ship by re-administering confidence from our clients is the first major task. With the new team behind the wheel, the only time we will be holding positions for more than a couple of hours are trades that are in the blue which have no risk attached to them (Risk-free), Holding on to 30% plus drawdowns for weeks on end is no more. We will never have more than 3-5% Floating risk (maximum allowable loss, not drawdown) across the entire portfolio at one given time.

Of course, traders have good days and bad days but our new bad days are will look more like this: 

  • breakeven (no gain)
  • small loss (0.25-4%)
  • or small win (0.25-2% gains)

A strict risk management procedure offers good sleep at night and guarantees investor’s funds are safer than they’ve ever been at PlutusX. Growth is the name of the game, not death. This is a new chapter for our clients.

A major emphasis of the new team’s strategy is to never force entries– i.e. never to trade just to trade. The head trader and his analysts are continually monitoring the market for optimal entries to ensure high success rates. 

We are going to start slow and steady, regain traction and a positive equity curve.

Interested to learn more about what PlutusX is up to? Read our company updates here.

If you would like to see our trade updates and get an insight into how the MAM is performing in further details, please join our MAM Channel on Telegram where we post all of our trades.

Click here to join

Disclaimer: PlutusX does not provide financial advice and investors are encouraged to consult their personal financial advisors.

All investing involves risk, including the possible loss of money you invest, and past performance does not guarantee future performance. Historical returns, expected returns, and probability projections are provided for informational and illustrative purposes, and may not reflect actual future performance.

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

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