1) April Results 13-20%
It is hard not to get excited when we see another month when the equity takes off and does not look back. Intra month draw downs seemed to be less than 3% while the end of the month upside was an incredible 20% in some cases. With six months of solid history behind our most recent evolution of the C25 trading systems, our current performance numbers appear as this below.

Out Of Office Until Thursday April 5th

Our office and administration staff will be out of the office from now until Thursday April 5th, So please be patient if you have recently sent in an application or are waiting for a return call or email.

Our March $5000 minimum promotion is now over and was very successful.  We now have lots of new clients coming aboard. From here forward our minimum will return to the still discounted number of $10,000.  As most of you know  $25,000  is normally what most other FX Managers require.

March Results

Since March ends on tomorrow/Saturday March 31st, but trading for all practical purposes stops at 5pm New York time Friday the 30th, we have posted March results early in the small table on our home page. 

Dear Client and Prospective Clients,

Open a trading account with the best managed currency trading system available, starting with only $5000
http://www.galleonfx.com/

For the remaining days in the month of March, FXCM NY and GalleonFX have both agreed to take on new clients  for the extremely low minimum of only $5,000. To qualify for this promotional minimum you must submit account opening documents in March and fund your account within a week after your account is approved.

In the first 2 months our main trading accounts are up between 15% and 28%, and showing very little draw downs in this time period.

We are pleased to release the addition of 4 new daily bar strategies (2 EURUSD and 2 USDCHF) to the C25 system in order to compliment the already existing 25 intraday bar strategies that range from 120 minute bars up to 960 minute bars. As noted before, the intraday strategies have had been back tested from 1994 till present, which is in striking contrast to the majority of FX system developers who back test from 2003 present (12 years as opposed to 3 years reveals much more about a systems strengths and weaknesses). And with the daily bar systems we are able to go back even further: from 1975 till now.

As previously mentioned, PAMM accounts had incorrect "exit" mistakenly put in place which was fixed earlier this month.  Though, PAMMs accounts missed out on the majority of the 2 big gains we had in the last 6 weeks, we should still do the C25 system justice and relay to you the TRUE potential of C25 and what everyone has to look forward to in 2007.

As we will show you in the charts and statements posted below, our Cannon 25 (C25) system was jumping on these big moves in the right direction and had nearly perfect entries and exits.

If you have been following our news items here on the GalleoFX website you would know that we implemented some major changes in November 2006.  One is the more powerful and evolved Cannon 25 (C25) trading system.  The second was converting our C25 strategies from TradeStation 2000i to TradeStation 8 (TS8).  This conversion allowed us many advantages, one of which was to be traded at FXCMs trading desk for better fills, spreads and commissions.

On Januray 10th 2007, a problem was discovered with the TS8 Exits that were trading client PAMM accounts.  This includes 90% of our clients but still a lesser dollar volumn than our non-PAMM clients.

We have just finished updating several parts of our website.  The most notable changes are to a previous news item addressing the  evolutions of C150 to C25 here. 

Our Performance page has also been updated with the new hypothtical results and summaries for C25, the newest evolution of the Cannon Trading System. 

Also, Man Financial Canada has been added the Open Account page.

We are also in the process of sending out a newsletter shortly to summarize the many changes that are detailed in our news section.

Trading on all USD FXCM Accounts was started up again this previous Friday 11/10/06.  Trading on several accounts was actually halted for almost 5 days from Monday until Friday while we moved our trading desk into FXCMs offices.  The initial changes were scheduled to take place on the previous weekend but testing and quality assurance took a few more days than planned.

During this period there were no significant trades or movements in the EUR/USD or USD/CHF so account values were not affected much either way.  If anything we seem to have gotten better fills on a few USD/CHF positions that we entered into Friday as opposed to earlier in the week.

The good news is,  now that this new trading desk is in place inside the brokerage firm, this simplifies the trade execution process since our strategies are now tied in directly to FXCMs platform through their systems desk.  Plus there will be full-time traders manning the desk 24hrs a day to make sure things run smoothly.  Previously our robot software was sending trading signals to FXCM.  This was working just fine.  Though, this new change just eliminates unnecessary steps and  potential issues that could prevent trading signals from getting to the brokerage firm.  Having a trading desk inside the brokerage firm is about as good as it gets to assure prompt and quick execution of trading signals.

We have been very busy this last month with programming in order to complete a project based on an insight. As you might be aware, our Cannon150 system had a couple of losing months during Aug06 and Sept06 which totaled close to a 27% drawdown. This was very significant for us and it came completely unexpected. The FX markets had formed a deadly range bound pattern for too long a time, and our 150 strategy system had found itself caught and lacerated within too many apparent breakout and trending plays that ended being stopped out on whipsaws and reversals.

The next table shows actual results from live trading of C150 for a period of 10 months.  Hypotheticals matched live trading very closely with C150.  It was not until Aug & Sept that a weakness was exposed in C150. The blue highlights show the new performance of C25 after changes and consolidation of C150 strategies was complete.  The core C150 was a very strong system but no one wanted to see a 27% draw down even if we were still up 47% for the year.

C150 Live Results Compared to the New C25 Hypothtical Results 

Despite another significant draw down for C150 in last month in September, we are preparing some good news for investors we should have in the next few days.  

What I can tell you briefly now,  is that using an additional special algorithm that combines all like time frames, the net result is 18 strategies that result in simpler more powerful strategy set.  For example the 150 strategies in Cannon 150  are reduced to 18 now.  These changes result in 9 CHF strategies and 9 EUR strategies.  We expect to have these implemented and trading accounts for next week by Oct 13th. 

Over the next week or so we will also be producing additional back testing reports that should give even more details on performance of these modifications.

Though C150 recently experienced a draw down of 14.9% in August, it is still up over 77% in the last 9 months.

For those who entered C150 in the last couple months,

  Dukascopy Trading Now as of  Friday August 25th

Dukascopy has agree to provide a staff that will be operating a trading desk just for Galleon at the Dukascopy location.  This will insure that we have no problems with our Robot softare automatically syncing with the Dukascopy systems and API.  Staff is in place and the first currency positions have been opend up today. (8/25/06).   Only a Euro C150 trading account is available currently at Dukascopy. Though more volatile, currently the C150 has a longer track record and very good performance and is easier to monitor with fewer strategies in play.

If you are interested in having a managed account traded by GalleonFX at Dukascopy in Swizerland, please click on Open Account at the top of this page.

Galleon August 2006 Newsletter

In this Issue
1) Information on our Conference Calls
2) C450 Trading System News
3) C150 Trading System News
4) Posting of Live Statements
5) Dukascopy Update

Up until June 29^th C450 had been steadily climbing to +3% for the month of June. The months of April and May had previously sunk the dollar to oversold conditions, and so June saw the dollar steadily regain its strength from their lows and form upward trends that the C450 strategies up until June 29th were profiting from. C450 had formed many positions going short EUROS and short GBPUSD.