Per our last update on 15 May 2022 all strategies are now turned back on with the exception of three strategies as changes were required.
Some of our investors were advised last week their investment accounts would be disconnected from following Wave Rock, Ulladulla and Coral Bay. The reason for this was changes were being made to their trading strategies. As such, this allows investors to observe the changes made and they can now make the decision if they would like to continue to follow the strategy, look at our other strategies or withdraw their funds.
Please find below further details regarding the changes. The overall reason for the change is markets movements are causing a high risk for large draw downs to occur if trades a caught going in the wrong direction. The strategies have been rebuilt to accommodate this risk.
Coral Bay – minimum investment increased from $10,000 to $20,000. Further currency pairs have been added. The lot sizes to open trades have been decreased. Uses same overall strategy but returns are expected to be lower so it can manage drawn downs when they occur.
Wave Rock – we had been testing and running other strategies in the background which were profitable but not ideal to run on account by themselves. We have joined these strategies together to trade with low lot sizes along with the previous Wave Rock strategy. This strategy now has 30 currency pairs, 5 bots which are trading different strategies on the one account. To obtain the right lot size the minimum investment is $30,000.
Ulladulla now Mollymook – as reported last month we had a stop loss occur on Ulladulla. The strategy was fine but human error occurred. The stop loss should have been turned off as there were still good levels of liquidity on the account. However, a parameter was not switched off properly and the stop loss stayed turned on and the market caught it. We have setup the strategy from scratch with it still using the Ulladulla strategy in addition to 5 other strategies. This means there is 6 bots scanning 29 currency pairs for trend reversals. The minimum investment has been increased to $30,000 to accommodate these changes and so lot sizes can be set accordingly.
For those investors whose accounts were disconnected from the above strategies, you are now able to reconnect your investor account to these strategies by contacting the broker. However please note the minimum investment amount has changed.
Any queries, please do not hesitate to reach out.
