Trade Asirikuy Systems Risk Free -> The New Challenge Account Restoration Fund

Today you will be witnessing one of the most important decisions I have taken within Asirikuy history. Several months ago I decided to create a fund called the micro-account stimulation project (MASP) which had as an objective the donation of 100 USD to a random Asirikuy member every month so that the selected member could create a challenge account and trade an Asirikuy system of my choice within it. The selected member would be given the 100 USD with the mere condition of running the EA on a VPS for two years and allowing me to monitor the account within Asirikuy. I was full of hope with this project and I hoped it will encourage people to open up mini accounts to try out Asirikuy systems and truly commit to their trading. However I was wrong about this. Today I will talk to you about the fate of this MASP fund and what will now be done with the money I have been putting aside for this project.

So what happened with the MASP ? People simply were not interested in my offer. During the past 5 months I have been contacting random Asirikuy members every month to tell them that they "won the prize" and would be given a free 100 USD from me to start their own micro account to trade an Asirikuy system. However the few who answered never really created the account or emailed me the details and the truth is that most members didn't even bother to contact me back. I also informed them they had won on the newsletters, the forum, etc and almost all the time I simply did not receive any reply.

I think that the reasons for this may have been several. Perhaps people are reluctant to receive money from a stranger (could be ?), perhaps they didn't want to open an account with any broker offering mini cent accounts, they didn't have a VPS or perhaps the price of the funding for the broker they wanted was too high. For whatever reason, the truth is that my very well intended Micro Account Stimuation Project failed and I now have 500 USD saved which clearly had a purpose they no longer have.

The solution ? I will now be changing the MASP to a project called the Challenge Account Restoration Fund. From now on I will be adding 100 USD to this fund every month (plus the 500 USD currently there) and the collected money will be used to restore the account of a challenger who reaches worst-case scenario levels within his or her account. Every system and every portfolio has a worst-case projected level and if this level is reached, I will send the owner of the account money from the Challenge Account Restoration Fund to replace their lost capital. Of course, the funds capacity is limited and it will cover older accounts and accounts with less initial trading capital with a higher priority. Up until now no account in Asirikuy has reached a worst case scenario but all current challengers can now be assured that if they reach such a case, there will be some insurance waiting for them :o).

The idea of this project is to provide challengers with some degree of compensation for the risk they are taking and to spend this money I was already looking forward to donate to Asirikuy members in a more efficient manner. This effectively means that people can now participate with cent accounts in Asirikuy in a Risk-free manner since the fund will obviously be able to cover the 30-60% worst-case scenario for small 100-200 USD accounts. As you see, I do this because I truly believe in my systems and I believe that a worst-case scenario for them is unlikely - although possible - and I want people to have some benefit when they take a risk with any new Asirikuy EA.

So now I can say that I am doing something no person involved in trading has ever done - to the best of my knowledge- I will be returning money lost by traders who use my systems if they reach certain draw down levels (provided they are Asirikuy challengers). I hope this encourages many traders to join Asirikuy and possibly some Asirikuy members to join with challenge account in this quest towards long term profitability :o).

If you would like to learn more about my journey in automated trading and how you too can trade automated trading systems with a high like hood of long term success please consider buying my ebook on automated trading or joining Asirikuy to receive all ebook purchase benefits, weekly updates, check the live accounts I am running with several expert advisors and get in the road towards long term success in the forex market using automated trading systems. I hope you enjoyed the article !

The Micro Account Stimulation Project, A True Commitment to My Fellow Traders :o)

Those of you who are newsletter subscribers may have already read about the micro account stimulation project on the newsletter sent to you on last Sunday. I wanted to dedicate today's post to disclose this project to everyone else so that website visitors as well as ebook customers can learn about it and give any comments or suggestions on the subject. Through this post I will discuss with you what the micro account stimulation project is about, what inspired it and what I expect to get from it through the following years.

So what exactly is this micro account stimulation project (from here called MASP) ? (I really like to give things weird names, right ? ;o) ) A few days ago, while I was doing all my weekly analysis for my weekly newsletter as well as planning for all the trading that would go on next week (both on my managed and personal accounts) I realized that the amount of testing that was going on at the website was not enough to actually test all the systems, projects and ideas that will be going on in 2010. I also realized that I was going to need to open a dozen or more trading accounts and that opening such a large number of micro accounts would not be possible due to the current number of accounts I own on all the different metatrader 4 brokers. Therefore, doing all the testing that I wanted to do for my subscribers on 2010 would become almost impossible for me to do in a reliable fashion, with the brokers I wanted with the quality I wanted, etc.

Then I had a great idea ! :o). What if I give people the money to fund their micro accounts ? This way we'll be able to have a lot of testing information and they'll be able to have funded micro accounts in which they can experience long term profitable systems themselves while we all analyze and see their live trading results. Since the number of subscribers is enough to cover my VPS expenses then why not give the money back to subscribers in a way in which we all can enjoy the tests and results ? Why not build a community with a lot more testing going on ?

The idea of the MASP is exactly this. Once each month, at the end of the month, I will give away 100 USD to one my newsletter subscribers (chosen randomly, feel free to suggest selection mechanisms !!). The only condition is that this 100 USD are used to fund a forex cent account on Alpari US, IBFX, Fxclearing or LiteFX (these are the brokers I know who offer nano lots (one cent per pip with 0.01 lots on the EUR/USD)) and this account is run on a VPS and trades an automated trading system the person chooses amongst different options I give him/her. The account will have to be traded for at least 2 years. After this period of time, the money and any profits will be owned by the subscriber. I am effectively giving away this money so that we can all have a far more varied broker/system/instrument repertoire than what I could obtain by funding micro accounts personally. Add to this the benefit that one subscriber each month will get the experience of running a system "risk free" (in the sense that I gave the money to fund) on a live account. This is a true and effective way of giving back and really helping the profitability of a fellow forex trader. Truly helping someone become profitable in automated trading for the long haul.

Of course, nothing prevents people from taking the 100 USD and running away with them and never opening the cent account or doing the tests. However I will try it for the first few months and see if the idea works. My opinion is that my subscribers are honest people who really want to be profitable with forex automated trading and they will welcome the chance to participate on the tests and open the live account with the money I give them. When a person is chosen I will obviously send him/her an email to ask them if they agree with the conditions and would be willing to carry on the tests, if they don't have the VPS or would not like to make the commitment to trade the account with the selected EA for the next two years then I will pass the offer onto another subscriber. If the idea goes well I will increment the number of accounts funded each month as the number of subscribers increase, hopefully by the end of 2010 I will be able to give away 300 or 400 USD every month :o) (hopefully if more people start to see the value on all the services offered with the newsltter and decide to join)

So what do you think about the MASP ? Do you think it is a good idea ? Do you think it contributes to people becoming long term profitable using automated trading systems ? Please leave any comments you may have abou this, I am really interested in hearing out your opinions ! However if you would like to learn more about all the systems I have programmed as well as how you too can become long term profitable using reliable automated trading systems please consider buying my ebook on automated trading or subscribing to my weekly newsletter to receive updates and check the live and demo accounts I am running with several expert advisors. I hope you enjoyed the article !