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GPV - fxcryptoexpert

Hello all,

I am the trader of the GPV https://www.darwinex.com/darwin/GPV.4.3/
Let me introduce myself, I have been trading markets since 1998. From 2005-2016 I was prop trading in big banks and institutions, managing bank’s books portfolios up to 5billion in bonds. I have also been market maker in the Greek government bond market and chief FX trader during my various trading positions throughout the years. Now I have retired and started my own firm in wealth management.

Regarding the trading strategy I follow here, I can say the following :

In the almost 20 years of my trading career I have used and tested almost everything, I still remember the excitement when I was reading about RSI and MACD and though ok, now the game is over I am going to use them and make millions! With the frustration to appear quickly to my face when the market proved me wrong! So I have come to the conclusion that the only thing that seems to work better for me at least, is just trend following strategies. So I am using simple moving averages and price action to determine the trend direction, and I place my trades accordingly.

feel free to follow my path here, I wish all of you luck and prosperity!

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Hello I trade for a living, after retiring from the prop desk in the bank, I trade mostly FX and crypto last 3 yrs. Regarding Darwinex I just found out last September and I started 2 funds to test the platform.


Feel free to ask me anything.

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Hi @fxcryptoexpert , welcome to the community!

Can you prove it?

Do you have a longer trackrecord on another broker? Can you show a myfxbook profile?

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Hi,

First of all, welcome to the Darwinex community.

I have 2 questions:

  1. What happened oin late August - early September on your GPV account? Looks like some very aggressive averaging down on EURUSD? Is that correct?

  2. If you were a prop desk trader, you must know that trading accounts as small as $200 - $300 is extremely difficult, so why are you making it so difficult for yourself trading these amounts here on Darwinex?

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Good morning!

@CavaliereVerde I was trading directly to the interbank FX, using the banks platforms GS,MS,Nomura and Barx mainly , as you know metatrader is a retail platform rarely used in the institutions…I also dont trust most of the brokers especially after what happened at 2015 with the SNB event…
I see Darwinex has all the tools to assess the risk of its acc and decide yourself, I started the GPV acc in the beginning of this year and migrated to darwinex in September, so u can at least see some decent (11m) history.

@Renko You bet its too tough, especially coming from a prop desk where we had risk limits defined in VaR, but anyway its a challenge! I also wanted to 'feel" and imitate the burden of managing so small acc, as many of the retail traders do when starting trading FX, so so what can be done

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Do you have a website and an office with an address?

Sure but for the time being I prefer not to share that kind of information, I dont see how this would help the darwinex platform system and also it might be against the rules, for example try luring clients from here…I believe this company provides everything someone would need in order to take advantage the manager’s trading performance. Thank you

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Hello fxcryptoexpert,

Welcome to the Darwinex community and thanks for introducing yourself and your strategy.

Your backstory surely is an impressive one, though I have some questions on why you have decided to join Darwinex and advertise your DARWIN here. I would expect somebody who has been working in IB for 12 years to have sufficient capital to be a self-sustaining trader, not in particular need of small outside investments here on Darwinex. What are your expectations here?

Additionally, in regards to your strategy, GPV, I also wonder what happened between August 27th and September 3rd, where the underlying strategy suffered roughly 60% drawdown. It seems like some aggressive averaging into either a EURUSD or GBPUSD long. This seems not very typical of a momentum following strategy. Would be happy if you could clarify this a bit

Cheers!

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First with your comment you undermine the quality of the darwinex project, if no good traders can join here then whats the point…
the period you mention I had to increase the risk as it was EOM and needed to achieve some performance metrics. Anyway thank you for your comments and welcome!

Welcome here,
just wondering what was the reason of achieving metrcis? Your Darwin was migrated after 12.09.2019 so I dont see a point of catching metrics.
Thx.

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As I told you I manage various portfolios in many platforms, in one of them was this underline acc…cheers

I am sorry if my first comment offended you in any way. I am simply curious about what you are expecting by advertising your DARWIN here, as I mainly see newer traders looking for some new exposure to possibly take their trading career to a next level.

Regarding increasing the risk going into 60% drawdown in order to ‘meet’ a performance metric, don’t you think that is somewhat excessive? I’d much rather see strategies that exhibit some kind of normally distributed returns around a positive mean without too much of a ‘fat tail’ to the downside, accepting that some months will yield negative returns. Why do you consider month-on-month performance to be so important?

Cheers!

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Lets put the things straight, one of the most often mistake new traders do when looking at a system is DD, and I will try to explain a bit,
The correct metric would be the performance/DD index, and Darwinex has got very right if you have understood how the VaR system works here. For example if a system is risking 60% to make 600% (as my underline strategy) so 10:1 is the equivalent of a system risking 6% to get 60%…As you only have to adjust the system strategy to your position size, for example if your max wanted DD is 10% then simply follow my strategy with 1/6 position size, or deposit x6 more equity…
Anyway, try to understand the way of how darwinex works and all will be clear to you, cheers.

The main reason here to avoid investing in your strategy is the low equity you use. Just go to the Darwin filter with your equity or less and number of investors > 1 and look at the result how much AuM is invested.

Do the same with 1k Euro equity or what is possible for you and you will see the difference.

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In my opinion, drawdown is one of the most vital metrics when judging a system. Depending on the exact way the system is traded, it does give an idea of the probability of getting a critical blowup, losing 90% or more of the account, meaning you will need a 1000% growth to get back to break even.

I think that the risk of catastrophic loss should be minimal at all times, and I think this probability is too large for a system that has seen four instances of ~40% drawdown and one of ~60%. What will you do if the account does blow up eventually?

The performance/DD index works better in curves that are smooth, and for your system, the tail risk is underestimated imo.

I think you understand darwinex very well, in that it is possible to get investors capital while risking a tiny amount of money yourself, but I do not think it instills much confidence in your own system. Have you considered allocating more of your own funds in the system and why (/not)?

Cheers!

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While I agree with the explanation about the DD/WINING expectation proportion, risking 6% to make 60% is very different than risking 60% to make 600%. When you talk about position sizing the risk is measured by a percentage of your equity. And that kind of risk (60%) is leading to blow the account, don´t you agree?

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Ok guys I wont argue, everyone has different understandings, so better stay and use the metrics of Darwins and stop looking at other systems and strategies…cheers!

Darwinex has the risk manager between your trading and the investors‘ accounts so if you run into a margin call with your trading the investors won’t join you on that way but their losses will be significant for most of them.

If that happens your VaR will come to a value of 80% or more and the recovery of your account will also not come to the investors‘s accounts in a way you might think because only a small portion of your lots trades will be translated to the investors account and if you might reach a new ATH with aggressive trading and a good portion of luck your Darwin might not get it.

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That’s a shame, I’d love to learn why you do things differently. This forum offers an opportunity to further elaborate on a specific DARWIN, enhancing the chances one gets backing, so I’d encourage you to engage, even though we do not agree. Moreso, it allows us both to learn more :wink:

Very good point on keeping a more constant VaR, I missed that :wink:

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