5% average monthly profit for at least 2 years (with less than 25% max. DD)

VPTrader posted:

@VPTrader

1. 'put more value to the managed accounts which do not have any 'track records' through third partys'

- Well, I would still require 3rd party confirmation, preferably via a PRIVATE MFB LINK, i.e. which is not shown/marketed to the public.

2. 'especially those where there is not much written about them at all'

- The less talk and chit-chat about them on the net, the better. So, definitely a yes.

3. 'Then ask for mt4 access to PAMM accounts and watch the trades some time'

- Good idea, although I doubt that any PAMM manager would give investor access to his live trades - fearing of copycats.

4. 'only those which work with bigger, well-known brokers in more regulated countries'

- IT IS A MUST and THE UTMOST IMPORTANT POINT OF THE LIST.

5. 'also have more than one broker to chose from (decreasing the risk for 'fabricated' results)'

- Yes, it would be an added safety feature to #4.
___________________________________________

I would add:

6. At least TWO (but preferably THREE) YEARS of verified track record.

7. Max. DD < 10% (for larger funds).

8. MonthlyProfit/Max. DD ratio: 1:1 or better.
____________________________________________

NONE OF THE LISTED FX SERVICE PROVIDER FULFILL THE ABOVE CRITERIA...

Thanks.

1-2. Yes, that´s basically what I meant. The important part is whether you approach them, asking for comfirmation rather than they approaching you 'selling' the solutions. For Anmaric, Perfecto etc. you can read about them all over, and there is also a lot of 'rubberband ads' all over the internet.

Question:
a) Would you prefer MFB next to ie. FXBlue or other third partys? And why?
b) I guess live access to Mt4, seeking trades in real time is better than seeing the solutions through a third party? Especially if the trades are not lagging...

3. Agree, but they should be able to provide it for a couple of weeks at least. Then you can verify the results, comparing to the traders posten in their internal system/login page.

Question:
a) Is it an easy task to provide a 'temporary login' to the Mt4 PAMM account, limiting the access to a couple of weeks and then switching password or does this take a lot of time or in some way is hard to do?

4-5. Agree.

6-8. Agree. I could personally tolerate a bit higher DD, but as you state: the larger the funds the lower DD you could tolerate. If going back to your original thread, all those above fullfill the criterias, but if you add < 10 % DD they don´t.

I will take a meeting with them, and if it´s possible to start out with 10-20 k usd it sure looks interesting to take a closer look.

Looking at those three in particular, any more feedback?

- I am more familiar with MFB's verification process, so personally I would prefer MFB verification (through a mainstream broker).

- Live access to MT4 would be a nice addition, and yes, a PAMM manager should be able to provide it for a few weeks. Should he refuse to grant access even a for a few weeks with a temporary investor passoword, it would be a HUGE RED FLAG.

- Concerning the SWISSDIREKT and Folyle Capital performance sheets I have a few concerns: I could not find VERIFIED performance results for any of them. (Glossy performance pamphlets can be easily produced within a few hours even by a graphic designer.)

vijayinvites posted:
I had 5% for the last two years till the SNB decision broke that DD level. Except that i was below 25% DD.

Other than the fact that the strategy employs some grid elements with progressive lot numbers, the results were really nice before the SNB announcement.

Personally I am very sceptic about any strategy employing 'gridding', i.e. cost averaging. In other words, I would not invest large funds with a 'gridder'. With smaller funds I might, but the proceeds would not even pay my rent.

@Paracelsus66

Thanks for you reply.

1. I see. I am also only familiar with MFB. When calculating DD, all open positions are included, are they not? And all withdraws and deposits are calculated so they not interfere with the actual performance?

2. Ok, great. Then I know that they could not refuse this simply becuse it takes to much time. It should be an easy fix if they are serious enought.

3. I agree. I get a serious impression, but of course it needs to be verified through MFB and preferably Mt4 access aswell. I will ask for this during my meetings.

Anything more of use to add? :)

Thanks

@FxMasterGuru

Was not this same answer posted by @Paracelsus66 for a few minutes ago? Now it is edited. Are you managing these two different profiles or is there a bug on MFB? 😕

VPTrader posted:
@Paracelsus66

Thanks for you reply.

1. I see. I am also only familiar with MFB. When calculating DD, all open positions are included, are they not? And all withdraws and deposits are calculated so they not interfere with the actual performance?

2. Ok, great. Then I know that they could not refuse this simply becuse it takes to much time. It should be an easy fix if they are serious enought.

3. I agree. I get a serious impression, but of course it needs to be verified through MFB and preferably Mt4 access aswell. I will ask for this during my meetings.

Anything more of use to add? :)

Thanks

@VPTrader

SWISSDIREKT might be interesting if they could verify their results and their broker is OK. Although I have a feeling that they will say that they are not dealing with MFB or FxBlue verification and they have their own verification procedure... Please keep us posted.

P.S. I have two MFB logins. The simple reason: many scammers and strategy developers have blocked my original username after I had revealed their scams or strategy weaknesses, so I had to have a second username to be able place a final post about them. I am not alone with it: many other 'scam crusaidors' had been blocked by scammers. Even a thread has been started about it by someone else: https://www.myfxbook.com/community/general/you-blocked-discussion-groups-please/897614,1

@FxMasterGuru

Yes, I agree. That would be great. Otherwise if they could provide Mt4 access during a longer period.

The broker is LMAX UK. Any opinions? I also belive you can chose other brokers aswell, but will check that up.

I see. No worries. Just curious.

Regarding https://forexmanager.co.za/ do you have any thoughts in general? Here I actually know a guy who have been with those traders for quite some time and you have verified past performance on MFB. You also have the choice to chose between brokers. The strategy is somewhat not as clear (news trading with low frequency) and there seem to be a MAM solution rather then PAMM, but oterwise I think it looks interesting. I can not see any obvoius 'red flags' and neither can I see any real reason for this to be a ponzi scheme in any sort of way. I will probably go for a meeting here aswell, but all input/questions I could get on beforehand would be much appreciated.

@VPTrader

Concerning https://forexmanager.co.za/ I can see a few 'red flags'.

1. Many of their past accounts had been abandonded.

A few additional red flags about one randomly picked strategy from them: https://www.myfxbook.com/members/ForexManagerDBA/30-vip-usd-sl/912637

2. Trade history is hidden (intraday Martingale?)

3. Last update: April 14th, 2015 (i.e. one week ago). This is a significant red flag as the strategy manager can simply hide the drawdowns by connecting the account only at 'high water mark' points, then disconnect again.

4. 32 trades total have very low statistical significance, i.e. the statistical 'p value' is very unfavorable. In other words - statistically - the results are useless.

@FxMasterGuru

1. Yes, the reason why is because FXCM do not 'like' the way he is trading (heavy positions, sometimes scalping during news events) which makes it hard for them to hedge and in that case they simply lose money when this trader (and other MAM:s) are making money. They are now switching to another 'main' broker because of this. Of course I need to have more info, but my friend says so, and he have been in contact with them for quite some time now. So it makes sense, at least from my point of view.

2. I belive that is because he simply does not want to show the trades. I have seen real mt4 reports and my friend has made deposits and withdrawls with no issues, making good profit.

3. I belive they are currently not trading since FXCM have shut them down and they are working on a better broker solution at he moment. I will have more info shortly.

4. I agree, and I would have preferred a more 'avtive' strategy but they seem to be very conservative with how many trades they take (mostly during big news events) and that does not need to be a bad thing. I would not say 'luck' since my friend have been with them for quite some time and they are consistently making money, but I agree that more trades would make it better statistically. But for diversification, it could be a good strategy.

Thanks, I will take a closer look at it and perhaps I come back with more questions afterwards. I would like to see more about which brokers they will chose.

I need help with FXDD MT4, my demo account details were saved but now I cannot login to trade even if I enter password nothing happens. PS: My internet connection is fine and other MT4 work fine. If this is serious issue, how can I change broker and still continue updating my account here on myfxbook. Thanks.

Mthiya posted:
I need help with FXDD MT4, my demo account details were saved but now I cannot login to trade even if I enter password nothing happens. PS: My internet connection is fine and other MT4 work fine. If this is serious issue, how can I change broker and still continue updating my account here on myfxbook. Thanks.

Probably the time limit on your demo account has expired at FXDD. If you have a live account with them, you can ask them to convert the demo account to a 'NON-EXPIRY' version. If not, you can still ask them, but it is unlikely that they would do the change.

I suggest running the strategy on a small, but REAL account for the following reason:

- the results will reflect the impact of the real market (e.g. execution delays, slippages, sudden spread widenings, stop hunting, etc., i.e. the great 'toys' of the brokers to skin their clients).
- the results will be more reliable and credible
- the account will not expire.

FxMasterGuru posted:

Mthiya posted:
I need help with FXDD MT4, my demo account details were saved but now I cannot login to trade even if I enter password nothing happens. PS: My internet connection is fine and other MT4 work fine. If this is serious issue, how can I change broker and still continue updating my account here on myfxbook. Thanks.

Probably the time limit on your demo account has expired at FXDD. If you have a live account with them, you can ask them to convert the demo account to a 'NON-EXPIRY' version. If not, you can still ask them, but it is unlikely that they would do the change.

I suggest running the strategy on a small, but REAL account for the following reason:

- the results will reflect the impact of the real market (e.g. execution delays, slippages, sudden spread widenings, stop hunting, etc., i.e. the great 'toys' of the brokers to skin their clients).
- the results will be more reliable and credible
- the account will not expire.

Thanks Your answer was very helpful i didn't think it could be that my account has expired. Wonder why demo accounts expire anyway, again it depends on the broker next time i will be very selective.

FxMasterGuru posted:
@VPTrader

Concerning https://forexmanager.co.za/ I can see a few 'red flags'.

1. Many of their past accounts had been abandonded.

A few additional red flags about one randomly picked strategy from them: https://www.myfxbook.com/members/ForexManagerDBA/30-vip-usd-sl/912637

2. Trade history is hidden (intraday Martingale?)

3. Last update: April 14th, 2015 (i.e. one week ago). This is a significant red flag as the strategy manager can simply hide the drawdowns by connecting the account only at 'high water mark' points, then disconnect again.

4. 32 trades total have very low statistical significance, i.e. the statistical 'p value' is very unfavorable. In other words - statistically - the results are useless.

Had a quick look into the impressive performance. Heres the first thing I saw .... fascinating !

Hahaha... 312 pips in 0 seconds?! it proves one thing! Scam !

Yes, there are lots of scams... Different scams...

Capital Trust Markets has just closed down all operations refusing to pay out clients' deposits. They don't even respond to withdrawal related e-mails.

The owner REZA MOKHTARIAN is gone with all the clients' monies...

I have seen a few accounts like this was wondering how they were doing it, thanks for the insight.

trendgenius posted:
I have seen a few accounts like this was wondering how they were doing it, thanks for the insight.

What insight are you referring to?!

- Do you hear our VIP clients complaining about our YEARS of service? No. Yet some are willing to judge based on limited experience and without contacting us for clarification...that is not entirely fair or just lazy.
- Every one of our accounts are fully verified with reputable, well regulated and even NYSE listed brokers. If you want us to 'double verify' some accounts, please let us know what more do you expect from us and we will try accommodate.
- In order to improve performance, we manage every account separately and therefore no longer offer PAMM accounts. Copying our trades is not possible, and using a MAM 'lot' allocation is also Not suitable.
- It is clear that our trading holds a significant edge, therefore there is NO requirement to use poor money management techniques such as grid or martingale,
- and, as seen from the trade open times, there is NO hold and hope.
- Please refer to our profile FAQ...the accounts that are no longer updating or have not been traded for some time, all have a Zero balance, because funds have been withdrawn or transferred internally to new accounts or brokers. Revealing the balance verifies that all the funds, along with all profits were fully withdrawn.

Trade durations:

- We scalp the market during times of volatility...yes, it requires skill, experience, fast execution, along with various infrastructure and services. We have been trading for many years and with great success.
- Many of these accounts are 'Trading Station' accounts. The myfxbook 'Trading Station Publisher' does not seem to publish the seconds for open and close times, instead it rounds down the minutes, and therefore any duration less than 60s is calculated as 0 seconds, and between 1 to 2 minutes is calculated as 1 minute and so forth. We will download the latest version of the publisher - hopefully that will improve the open duration accuracy for the next accounts.

Thanks

5% average monthly profit for at least 2 years (with less than 25% max. DD)... On an account running at a mainstream broker...

The search goes on... Since February of 2013... There were a few promising strategies on the way, but all have disappeared.

The fact that no MyFxBook verified strategy - running at a mainstream broker - can fulfill the above criteria tells a lot about the slim chances of 'Average Trader Joe' to make a living from Forex trading.

And we are not talking about 'getting rich' (and 'staying rich') results... Anybody....?

Or should we just conclude that the comment of @amirsasan90 is the 'final nail' in this thread:

'Let's be Honest guys...
We have never seen anybody who gains stable profits in the long run...
What we are doing right now is more like Alice dreaming the Wonderland!!!'

FxMasterGuru posted:

tradingextreme posted:
view my performance;)))

What is the link??

We are 3 pro trader managing big funds
I can show you our history sample of 6 months
1,000% gain
DD under 3% in 6 months

looks impressive indeed