Home  News 8/3/06 Galleon August 2006 Newsletter
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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
1) Information on our Conference Calls
If you had visited our website yesterday, you would have noticed our
normally scheduled conference call was canceled. We were planning on
hosting a call as usual but have been overly swamped with other tasked
lately. Since everything of importance is usually posted as news items
on our website and there is already a nice base of previous recorded
calls available for download, we will likely start doing the calls even
less frequently. The next call will be announced ahead of time as well
as the time and date posted on the website.
The conference calls had initially started as a way to help promote
Galleon and to help new investors get acquainted with the operators and
traders where additional questions could be answered. Since then, the
information on our website has matured and there is also a nice archive
of previous calls still available on our website that will still server
the purpose.
2) C450 Trading System News
Up as much as 4-5% throughout the month but finally closing the month
at a slight loss at -1.58% for the month of July. Despite the recent
small losses C450 has experienced we still feel C450 is an incredibly
solid trading system since it is build on the foundation of C150 which
has now had only one down month in the last 8 months. C450 strategies
are continuing to be tuned with the slight changes we've mentioned on
our website and conference calls previously and performance should
really improve as compared to recent months.. We still advise
investors to hold tight on C450 if you are already invested in it. Or
for further diversification split funds between C450 and C150 by
opening a C150 account and adding new funds.
3) C150 Trading System News
C150 is becoming more popular now days and it's no surprise. While
C450 has had a slow start, C150, though much more aggressive and
volatile is really proving itself. Most of our C150 clients experienced
another 8%+ month with C150, whereas some technical issues have caused
our FXCM Euro clients a small set back in July (referenced more on our
Live Account Performance Page). As of now, the C150 account which we
have been posting statements for, has only had one down month in the
last 8 months and has accumulated over 92% gross returns in that period
with about 70% return net to clients.
4) Posting of Live Statements
In addition to statements generated from our PAMM (Percent Allocation
Management Module) accounts, next month we will begin posting a
singular account statement for both C150 and C450 that exist outside of
the regular PAMM account statements we are posting now. These singular
statements should have the exact same trades but will be much easier to
read since singular accounts do not have current positions opened and
closed everyday at 5pm. This reopening of trades everyday is necessary
to allow additional client funds to be mapped and unmapped from the
aggregate virtual trading account but make it much harder to analyze
what is happening with individual trades. These new statements should
make it easy to see how long positions are held and and how many pips
were made. Meanwhile, July results and numbers are now posted and
statements should be posted shortly if not already by the time you
ready this.
5) Dukascopy Update
Dukscopy accounts traded for a brief period in July and are in profit,
but once again we ran into technical difficulties with Dukascopy's
systems not being able to sync correctly with our robot software's
signals. We are working with them to get this fixed but also looking
at a few attractive and alternative options that we should have
available within the month. Solutions may either consist of funds
remaining at Dukascopy or using another alternative firm. We will
report more on this as soon as we have the details ready for you.
Regards,
Ben
Galleon Operations
US FAX: 1-267-295-6164
http://www.GalleonFX.com
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