November 2022 Results: A Difficult Month for Forex Traders
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NordFX Brokerage Company has summed up the performance of its clients' trade transactions in November 2022. The services of social trading, Copy Trading and PAMM, as well as the profit received by the company's IB-partners have also been assessed. The results show that November was not the best month for Forex traders.
- The maximum
profit was received this month by a client from Western Asia, account No.
1652XXX, whose profit amounted to 24,789 USD. This solid result was
achieved mainly in gold (XAU/USD), British pound (GBP/USD), and euro
(EUR/USD) trades.
- Gold helped
their compatriot, account No. 1638XXX, to take the second step of the
podium with the result of 19,260 USD.
- The third
place belongs to the owner of account No. 1664XXX from Southeast Asia.
Using various trading instruments (GBP/NZD, EUR/JPY, EUR/NZD, etc.), this
trader made a profit of 15,597 USD.
The
passive investment services:
- “Veteran”
signal, Kenny FXPRO – Prismo 2K, continues to grow in Copy
Trading. Ie brought the profit to 277% in 576 days, but its maximum
drawdown approached 67% in November. The signal provider had to increase
the leverage to 1:200 for the first time to get out of it. The indicators
of the second signal from the same provider, KennyFXPro - The Cannon
Ball, look like this: 244 days of lifespan, 79% profit. At the same
time, its subscribers avoided stress: the leverage did not exceed 1:43,
and the maximum drawdown remained at the same level, a little less than 13%.
Startups include the Jhunjhunu signal (profit 547%/max drawdown 61%/lifespan 55 days). Here, as usual, we recall that such profitability certainly looks very attractive, but the subscriber should definitely take into account risk factors such as drawdown and signal life. - However, as
practice shows, a long lifespan and good trading performance in the past
do not guarantee against future losses. Thus, two leading accounts in
the PAMM service suffered significant losses in November.
The KennyFXPRO-The Multi 3000 EA account has been in existence since January 2021, and the maximum drawdown on it had not exceeded 20% until recently. However, the situation became more complicated last month, the drawdown exceeded 42%, and the account manager decided to close unprofitable positions. As a result, profits fell from 170% to 70% and returned to early 2022 levels. The TranquilityFX-The Genesis v3 account found itself in a similar situation: its maximum drawdown doubled as well, while profits fell from 130% to 44%.
It is clear that closing losing orders was a very difficult decision for these PAMM managers, and they made it in order to save at least part of the money. Perhaps, if they had acted the same as with the KennyFXPRO - Prismo 2K account in CopyTrading, the losses would have been avoided, but the risk of a complete zeroing of deposits would have increased many times over. At the same time, it should be noted that the profit in both these accounts exceeds the interest on bank deposits many times even after the November losses.
Among the NordFX IB
partners, TOP-3 is as follows:
- the largest
commission was accrued to a partner from Western Asia, account No.
1645XXX, for the second month in a row. It was 4,924 USD this time;
- the next is
their colleague from Southeast Asia, account No. 1660XXX, who earned 4,173
USD in November;
- and,
finally, a partner from Southern Asia, account No.1618ХХХ, who received
3,742 USD as a reward, closes the top three.
***
Attention! The NordFX
Super Lottery New Year's Draw will take place in just a month, on January 04,
2023, where numerous cash prizes from 250 to 10,000 USD will be drawn among the
company's clients.
You still have time to
join it and get a chance to win one or even several of these prizes. All the
details are available on the NordFX website.
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