Market Update

The U.S. equity markets regained some of their losses from yesterday's record day on speculation an alternative "rescue plan" (bailout) may pass. With so much focus on the markets and banks failing at a faster rate then ever, the currency market has been volatile and unpredictable. Our system continues to hold up reasonably well considering the circumstances.

Continued Market Uncertainty

It appears that the political leaders in the U.S. have settled on a $700 billion bailout package. This should translate into a short term strengthening of the Dollar. However, how rapidly this will happen is unknown. We also do not yet know how Non-Farm payroll this Friday will affect volatility in the market. The Forex market continues to react violently to the historic changes in U.S. economic policy and world economic policy. Everyday through the last month and a half has seemed to bring with it a new surprise that has the effect of sending certain currencies trending strong in one direction.

We decided to trade today but with an added degree of caution. As you know, we continue to trade live $100,000 of our partners funds but all other client funds are waiting on the sideline. We continue to wait until the markets calm down sufficiently to get back to 100% live.

Today - A quick glance

It isn't expected to be an especially volatile day today. We have one major economic report coming out today - U.S. Existing Home Sales at 10:00am EST. The market has pretty well priced in a bad number so the risk really is that a stronger than expected number comes out. However if that were to happen it would strengthen the dollar and help with some of the drawdown trades we are in. Other than watching to see what happens with that report we expect it to be a quiet day (at least we hope).

Return to a range

The market returned to a range and gave our system the ideal conditions it needed to pull out of the drawdown. The Alpari account(one month and one week) is back up 42% in closed balance and 9.4% in equity. The Varengold account(two weeks) is back up 19.7% in closed balance and 4.5% in equity.

Weekly Informational Webinar

We have started holding weekly webinars. These webinars give the potential client an opportunity to meet the Echo FX team, learn more about Managed Forex and the Echo FX Program, and ask questions that they may have. If you would like to participate in our next weekly webinar click here.

The Echo FX Website

We are excited to have our front door Echo FX website up and running. You can visit it by going to www.echocurrency.com. However, the Echo FX Client Blog will still continue to be the main source of information about the Echo FX Managed Forex Account program.

Opening your Forex Brokerage Account

The following broker(s) have been approved for trading. Click the link below to start the online application process.

1. MIG FX (Medium and Medium-High Risk Programs Only)

Steps to trading your money live

1) Watch the Managed Account Intro and Trading System Overview Video.
2) Review the Backtest Performance.
3) Choose the Trading Program right for you.
4) Download, carefully read, understand, and sign the 'Echo FX Risk Disclosure and Managed Account Agreement'. Email a signed copy to your Echo FX representative.
5) Open an account at MIGFX.
6) Fund your Forex account with the minimum required by your chosen Trading Program.
7) Notify your Echo FX representative once you receive confirmation from MIGFX that your account is setup, funded, and approved to be traded.

*For additional questions contact your Echo FX representative or email us at info@echocurrency.com

Quick Links:
i) MIGFX Online Account Application
ii) Echo FX Risk Disclosure and Managed Account Agreement
iii) Account Setup Walk-Through Guide

Backtest Performance

Echo FX Medium Risk System - Uses two unique trading strategies focused on limiting drawdown. Through disciplined and market sensitive guidelines the system strives to obtain consistent quarterly results. The system is a combination semi-auto trade strategy and a 100% manual execution strategy. Both strategies follow strict entry and exit rules and are monitored 24 hours a day by our trading team.

Echo FX Medium-High Risk System - Uses the same two unique trading strategies as in the Medium Risk System but with higher risk/trade parameters. As with the Medium Risk System, this system is a combination semi-auto trade strategy and a 100% manual execution strategy. Both strategies follow strict entry and exit rules and are monitored 24 hours a day by our trading team.

Echo FX High Risk System - Combines the two strategies in our Medium Risk System with a third, range based, strategy. This third strategy is extradinarily effective but requires much more account principal to not over-extend the account. The system takes thousands of small trades per month across multiple time frames and over 12-18 currency pairs. By doing this the system seeks to diversify it's positions and maximize it's profits.