Frequently Asked Questions
- About Me
- Trade Copying
- brokerage Account
Q: Who are you? Tell me about yourself.
My name is Christopher Lee, and I've been a Forex trader since 2005. You can find out more about me at my blog: PipMavens.com
Q: How are you different from <guru trader>?
I publish my live trading performance for everyone to see.
Q: Where are you based?
I was born and raised in Singapore, but live in various places in Asia.
Q: How can I trust your trading performance?
When verifying performance, there are two questions to ask.
First: is the broker is well regulated, reputable and based in an established financial jurisdiction?
Second: who is tracking the results? Is it a neutral 3rd party?
My performance is tracked by Myfxbook and verified by IC Markets (Australia).
Q: What's "drawdown"?
There are a few ways to describe drawdown, but the most common definition is: the largest percentage decline of equity from peak to trough. It refers to the largest cumulative paper loss in the history of the account.
Q: How much profits can I gain from copying your trades?
There's no way to tell. I cannot guarantee any level of profit and anyone who says they can is either ignorant or lying. The only thing I can guarantee is that I will be working hard to maximise gains and minimise losses. After all, I have significant skin in the game - I'm trading with my own money too.
I would also add that over the years I have come to appreciate having much lower drawdowns at the cost of slightly lower monthly returns. If you are comfortable with a 2% monthly return with 8% max drawdowns, this might be suitable for you. (Note that this is merely an estimate, not a guarantee of future performance)
Q: How does the trade copying work?
I trade with an industry standard MAM (Multi-Account Manager) account. When you join, you'll get instructions to set up a sub-account that will be linked to the main MAM account.
Then, all actions I take on the MAM account will be automatically and proportionately copied on your sub-account.
Q: How is my trading lot size determined?
The size of your trades will be determined by the size of your account.
Attached to the MAM account are three sub-accounts:
- Sub-account #1: $50,000
- Sub-account #2: $100,000
- Sub-account #3: $150,000
The MAM account thus consists of a combined total of $300,000.
Now when I trade with 10 lots,
- Sub-account #1 trades with (50,000 / 300,000) * 10 lots = 1.67 lots
- Sub-account #2 trades with (100,000 / 300,000) * 10 lots = 3.33 lots
- Sub-account #3 trades with (150,000 / 300,000) * 10 lots = 5 lots
The total is 10 lots traded.
Q: Do I have to install any software?
Nope! Everything is hosted with the broker and the trade copying will occur automatically.
Q: Will my funds be safe?
Absolutely. Your account is legally segregated and I will never have access to your login details or funds. The trade copying process is fully handled and managed by the broker.
Q: May I deposit / withdraw funds at any time?
Additional funds may be deposited at any time. Fund withdrawals will typically take less than 48 hours (on work days), subject to the ongoing market conditions.
Q: What if I lose money?
Before you join, please be aware that losses are part of the game. If losing money will cause you a lot of stress and unhappiness, this service isn't for you.
Trading is not a smooth journey. There will be ups and downs along the way, and if you'd like to join you need to be able to trust me to deal with the "down" times.
Also, you need to understand that this is not a "get rich quick" scheme. My aim is to deliver returns over a period of 6-12 months. If you are concerned about losing money over any specific day/week/month, please do not join.
Q: Do I have to constantly monitor my sub-account?
Nope. And I recommend that you don't. The best way to enjoy this service is to just set up your account and walk away, while checking in once each month.
Q: If I join, can I still trade normally on my sub-account?
You cannot trade for yourself on the MAM sub-account, but you can do so on your regular brokerage account.
Q: Will I have to open a new brokerage account?
To copy my trades you need an IC Markets brokerage account. If you have an existing account with IC Markets, you can use that. Otherwise, you'll have to open a new brokerage account with IC Markets.
Q: Why do you recommend IC Markets?
- They are officially regulated by the Australian Securities and Investment Commission (AFS Licence number 335692)
- They offer ECN accounts with very small spreads, which compliments my trading strategy
- Their server reliability, execution speeds and customer support is the best I've experienced
Q: What is the minimum deposit amount?
Your account must have a minimum of 3,000 USD in order to participate.
Q: Can I use another broker that isn't IC Markets? OR What if I'm a U.S. resident?
Sorry, this will only work with IC Markets.
Due to regulation, we are not able to accept residents of the U.S. or New Zealand. Sorry about that.
Q: What's the joining fee?
We charge a flat high-watermark performance fee of 25%.
Say you start with a $10,000 sub-account, and it loses $1,000 in the first month. At the end of month one your account is $9,000. Obviously, no performance fee will be charged then.
In month two your sub-account grows to $9,500. Since this amount is still below the highest point of your account ($10,000), you will pay no performance fees.
In month three, your sub-account grows to $10,500. For this month, the performance fee is:
(10,500 - 10,000) * 25% = $125
In month four, your sub-account grows to $11,500. For this month, the performance fee is:
(11,500 - 10,500) * 25% = $250
In other words, you will be charged zero fees unless I make money for you.
There are no other fees or charges.
Q: Why should I join now, rather than later?
1. This works like compound interest. Starting early puts you in a much better position than starting late. Each day you hesitate is another day you're missing out on exponentially growing your account.
2. As more people join, I will be raising the account size requirement and/or performance fee.
3. I reserve the right to stop accepting new trade followers at any time.
Q: Will you be keeping me updated?
Yes. All trade followers will receive a trading statement from IC Markets every weekday.
In addition, you'll get a personal progress update from me every 8 - 10 weeks.
Q: Can I stop using your service at any time?
Yes, you may stop copying my trades at any time. Just write in to let us know.
Q: OK, how do I join?
Click this button to get started: