$2m of Capital Available for RAPA FX Omega - Traders needed | Forex Factory

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Attachments: $2m of Capital Available for RAPA FX Omega - Traders needed
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$2m of Capital Available for RAPA FX Omega - Traders needed

  • #1
  • First Post: Jun 11, 2013 5:54am Jun 11, 2013 5:54am
We are looking to add FX traders to our RAPA FX Omega programme.

There are 3 criteria traders need to comply with acceptance into the programme:

  1. A RAPA Score > 40 (you will need to load your performance at RAPA its free to get this information)
  2. A 1yr or longer track record
  3. An account size > $10k

We have an initial commitment of A$2m for this programme and we had tremendous feedback from other FX brokers who want to be a part of this programme as it is broker agnostic. The investors in Omega will invest money in 1 account with all signals from the various traders copied into this one account.

Please contact me if you have any questions.

Mike
[email protected]

  • #2
  • Jun 11, 2013 11:11pm Jun 11, 2013 11:11pm
Our 1st trader who qualifies for FX Omega is Randy Durie. We have invested A$1m already with Randy. These are his impressive returns.
http://content.screencast.com/users/...06-12_0923.png
  • #3
  • Jun 14, 2013 2:23pm Jun 14, 2013 2:23pm
Hi Mickson,


was there some sort of withdrawal/capital pull/out or bug ... or is what I'm looking at what I'm thinking?
Attached Image (click to enlarge)
Click to Enlarge Name: 6-15-2013 2-22-51 AM.jpg Size: 49 KB
Have I got something on my face, SOLDIER?
  • #4
  • Jun 14, 2013 3:31pm Jun 14, 2013 3:31pm
what software you use to copy these trades to the 1 account ?

what broker can i use for this program ?

participating in the RAPA FX Live program also can qualify for the omega fx program ?
  • #5
  • Jun 15, 2013 3:41am Jun 15, 2013 3:41am
Quoting bumapatria
Hi Mickson, was there some sort of withdrawal/capital pull/out or bug ... or is what I'm looking at what I'm thinking? {image}
Yes this was a withdrawl, as we were moving the funds into a new account. There has been no trading in the account this month so there are no losses. Very fair question we should have taken this down, thanks for spotting.
  • #6
  • Jun 15, 2013 3:41am Jun 15, 2013 3:41am
Quoting Forexeurusd
what software you use to copy these trades to the 1 account ? what broker can i use for this program ? participating in the RAPA FX Live program also can qualify for the omega fx program ?
We currently use Power Trade Copier.
  • #7
  • Jun 15, 2013 4:48am Jun 15, 2013 4:48am
Quoting Forexeurusd
what broker can i use for this program ?
You can use any broker with regards trading your signals. We will kick off the Omega with a few Aussie ECN Brokers to begin with one being Global Prime and will expand it from their.
  • #8
  • Jun 15, 2013 3:28pm Jun 15, 2013 3:28pm
Quoting mickson
{quote} You can use any broker with regards trading your signals. We will kick off the Omega with a few Aussie ECN Brokers to begin with one being Global Prime and will expand it from their.

How do you receive my real-time trades, signals ? what program do i have to install to make this possible ?
  • #9
  • Jun 15, 2013 3:30pm Jun 15, 2013 3:30pm
Quoting mickson
{quote} You can use any broker with regards trading your signals. We will kick off the Omega with a few Aussie ECN Brokers to begin with one being Global Prime and will expand it from their.
why not use a real exchange like lmax ?
  • #10
  • Jun 15, 2013 4:12pm Jun 15, 2013 4:12pm
Quoting Forexeurusd
{quote} why not use a real exchange like lmax ?
Well dukascopy claims to be/use some kind of an exchange, but I really don't see that. Bit of the same with lmax. Lmax has nice spreads for EU and some other pairs, but not for all and at least not for 24h. I am trading EJ most of the time and I really can't see why I should use lmax for that, spreads like >2pip (ex commission) are far from rare, where I don't see that with my broker at the same time. When lmax would melt all bids and offers from both liquidity providers and clients together I really don't get why EJ has a spread like that. Maybe they are an exchange but then their LP's use larger spreads in their quoting or they have like very little LP's.
  • #11
  • Jun 15, 2013 11:54pm Jun 15, 2013 11:54pm
Quoting Forexeurusd
{quote} How do you receive my real-time trades, signals ? what program do i have to install to make this possible ?
If you are chosen as a signal provider. Lets say we have $1m for simplicity with 10 traders each receiving equal allocations then we will at the start of each period notify the trader how much capital has been allocated to their signal, we will copy the signal from the master account via an investor password into the Omega account, all the various signals will be funnelled into 1 brokerage account. For traders not using MT4 we will have to work a solution around that.

When we start taking 3rd party investor money this one account will be a PAMM structure at each brokerage we setup the programme at, with all investors being allocated their specific allocations from the PAMM account. It will be easier to explain this with a diagram.
http://content.screencast.com/users/...06-16_1448.png
  • #12
  • Jun 20, 2013 6:35am Jun 20, 2013 6:35am
Can i build up a track record as signal provider with you even if I am not chosen ?
  • #13
  • Jun 20, 2013 6:37am Jun 20, 2013 6:37am
Quoting Forexeurusd
Can i build up a track record as signal provider with you even if I am not chosen ?
Yes of course. We are looking for emerging managers so getting involved with becoming known to us is always a good thing.
  • #14
  • Jun 20, 2013 9:38am Jun 20, 2013 9:38am
When will you have a solution for traders not using mt4 ?

Can you post when you have news ?
  • #15
  • Jun 20, 2013 5:35pm Jun 20, 2013 5:35pm
Quoting Forexeurusd
When will you have a solution for traders not using mt4 ? Can you post when you have news ?
Let us know the platform you have in mind, if there is enough demand we can look at building a solution.

If you believe you have a great performance track record and RAPA does not support the platform, please send us the details and we can work a custom solution if the numbers look good.
  • #16
  • Jun 21, 2013 1:54pm Jun 21, 2013 1:54pm
One solution is to create a MT4 statement from a demo account with some dummy trades, edit the trades and the rest of the statement as required. I used simple ordinal transaction numbers - in other words start from 1 on your deposit and increment - rather than the long id's you get on your broker report.

In my case I can back up the edited statements with live data here on FF since the former is just a data transformation of the latter. You might have to do something similar as proof of authenticity.
  • #17
  • Jun 21, 2013 2:05pm Jun 21, 2013 2:05pm
Here are a couple of questions for mickson:

1. Out of the top 20 on the major and minor leagues can you say what percentage use automated systems?

I would wager most are automated.

2. Do you have future plans for a next round of recruitment for your omega trading program?

3. I see that you've recruited one person that has a trading acct < 10K - Mr Hidayat - on a fast track program. Could something similar be done for others?

It'll be interesting to see how competitive the whole thing gets over another 6 months...
  • #18
  • Jun 22, 2013 3:26am Jun 22, 2013 3:26am
Quoting chacha
One solution is to create a MT4 statement from a demo account with some dummy trades, edit the trades and the rest of the statement as required. I used simple ordinal transaction numbers - in other words start from 1 on your deposit and increment - rather than the long id's you get on your broker report. In my case I can back up the edited statements with live data here on FF since the former is just a data transformation of the latter. You might have to do something similar as proof of authenticity.
I don't like this idea, the minute their is manipulation of data involved I am going to take a pass. Let us work with the broker and we will make a proper solution.
  • #19
  • Jun 22, 2013 3:31am Jun 22, 2013 3:31am
Quoting chacha
Here are a couple of questions for mickson: 1. Out of the top 20 on the major and minor leagues can you say what percentage use automated systems? I would wager most are automated. 2. Do you have future plans for a next round of recruitment for your omega trading program? 3. I see that you've recruited one person that has a trading acct < 10K - Mr Hidayat - on a fast track program. Could something similar be done for others? It'll be interesting to see how competitive the whole thing gets over another 6 months...
On question 1, this is a guestimate but I would say about 60% are automated.
On question 2, we are constantly recruiting we have a minimum quota of 10 but if we have 40, our portfolio optimizer will decided how the pot is split in terms of allocations.
Question 3, we did an experiment in March whereby we gave some money to managers with very short track records that piqued our interest. Nurul Hidayat does not qualify for the Omega programme as his account size is too small and he is a little short on track record. Yes we are always looking for talent, say hi when you are on the leaderboard, engaging in an email exchange is what it is all about. We are talking to lots of guys all the time the more we know and the more we get comfortable with someone the more likely we are to allocate.
  • #20
  • Jun 22, 2013 8:21am Jun 22, 2013 8:21am
let us say i make 3 trades in 1 year and 20 pips

another trader makes 200 trades and 200 pips in 2 months with the same currency pair

which trader you gonna choose ?

lenght of track record is really not important.....no ?
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