5% average monthly profit for at least 2 years (with less than 25% max. DD)
Member Since Jan 17, 2015
1 posts
May 29, 2015 at 20:03
there is nothing good in this post
Member Since May 04, 2012
1608 posts
May 30, 2015 at 04:37
AlainTaylorFX posted:
there is nothing good in this post
YES, YES...! That is the point!
The fact that nobody could come up with a 1) modestly profitable 2) relatively safe and 3) STABLE strategy for more than 2 years on MyFxBook tells a lot about the chances of a making a living from Forex profits.
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Member Since May 04, 2012
1608 posts
May 30, 2015 at 04:47
drago posted:
@FxMasterGuru
I think it was discussed about 1.5 months ago, but I can't see clear your opinion about
https://www.myfxbook.com/members/ForexManagerDBA
For me it looks very impressive. What do you think.
@drago
It is hard to comment on this strategy as most accounts are closed after a few weeks, so there is no continuous trade history and enough data for statistical evaluation.
The likely reason why accounts are closed after a few weeks is that the brokers DON'T LIKE at all this strategy and they attack the accounts by their 'virtual dealer plug-ins', i.e. with their parasite software to limit the strategy's profitability. Apparently successfully, as the accounts are closed then reopened at a new broker... Rinse and repeat...
So overall the strategy can be good, but due to the above-mentioned reasons it is impossible to evaluate it.
Also, there is a risk that the traders/managers run out of potential new (and reliable) brokers. In addition, it is time consuming and costly to open new broker accounts and moving the funds back-and-forth every month...
Please click "Vouch" if you liked my post. If not, just put me on your Blocked list. :o)
Member Since Nov 21, 2011
1718 posts
May 30, 2015 at 17:18
zanzistor posted:
My systems has 7 % monthly average with 25 % dd after 8 months of trading is good enough?
https://www.myfxbook.com/members/zanzistor/unbeatable-aggressive/1057728
Fantastic equity growth curve... this is always the first thing I look at. It says a lot about your trading style. Well done and keep running profit!
Member Since May 04, 2012
1608 posts
May 30, 2015 at 17:18
zanzistor posted:
My systems has 7 % monthly average with 25 % dd after 8 months of trading is good enough?
https://www.myfxbook.com/members/zanzistor/unbeatable-aggressive/1057728
16 more months to go and yours will be the first one on MyFxBook fulfilling the stated modest criteria.
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Member Since Dec 11, 2011
33 posts
May 30, 2015 at 20:27
To set it straight, we would like to clarify and prove that Forex Manager Team's 'VIP' trading has achieved 5% per month for less than 25% DD for MANY Years. No martingale, No grid!
In fact, our one PAMM at a highly recognised broker achieved, over a period of 4 YEARS! an average profit of +5.4% per month with only -9.5% maximum DD.
Our combined statistics for our PAMMs and 2 of our Clients achieved, over a period of 6 YEARS! an average profit of +8.6% per month with only -12.3% maximum DD.
Attached is a breakdown of the statistics and the accounts are public, along with many more. At the bottom of this post is an explanation of the performance calculations. It took us 30 minutes to generate these statistics and you could do the same - if you choose to use other combinations of our accounts or ALL of them, the result will still be outstanding!
@FxMasterGuru
It is a shame that the world of forex, investments and managed accounts has many participants that have abused the trust of the Investor. Therefore we respect yours and any Investor's due diligence, but there is only so much sharing and verifying we can do - the fact is that we do generate a substantial return from trading Forex and have done so for over 6 Years. Many others have already identified our service and mentioned it on this forum. Yes we do face some broker challengers (which long term trader doesn't!), but it would take years for one Client to fill our current solutions, by which stage we would have numerous other solutions in place - these are mere stepping stones. Transfer costs are shared with the Client and are trivial in relation to risk / reward of trading. The account turnover frequency stated is hardly the reality - most accounts are 6 to 12 months, up to 4 years...if an account is active for shorter, then that is usually because it has been highly profitable...no complaints! We choose to make profits as quickly as it is 'safe' to do so...you may consider 60%+ profit in 12 months as suitable, whereas if we make it in a fraction of that time, we are fine with a bit of extra work or cost. Besides, very large Clients are offered long term institutional solutions or any variation thereof that they so wish. We have PLENTY of continuous account performances to provide more than enough statistical relevance...It is all there and comes down to whether or not a person Chooses to SEE it...we offer more than any other service, bar none. The fact that we trade numerous Separate accounts (without a copier or MAM) shows far more statistical relevance and discipline and skill than trading just one account or MAM, which would be a breeze in comparison. By the time you had posted in 2013, searching for your suitable trader, we had already achieved 4 years of statistics for which you are still searching... If you had joined then where would you be now after 2 years. If you were to join now, where will you be in another 2 years. Does that mean our trading is for everyone? No, of course Not! there are many more factors to consider than statistics alone. Please understand that even though our trading or service may not suit your personal requirements, we ask that our Team's performance is seen for what it is - an outstanding achievement! especially considering the lack of other long term verified participants. Thank you for your consideration.
Calculating our Verified Performance:
1. There is a glitch on Mfb that does not stop recalculating the monthly average even though the account has not been traded for years and therefore, with time, the displayed monthly average profit decreases for these inactive accounts. In order to correct the monthly performance statistics on some of our old accounts, it is required to change the account's custom end date to after the final trading activity...OR for greater accuracy...manually add up each month's profit or loss and divide by the total number of months to find the true average profit - this is the method we used as seen in the attached document.
2. Maximum DD will be correct as it is not affected by time.
3. We have more than 1 myfxbook account, the other is @Ubertrading so if you want to verify that both are ours, just send us a message at both to confirm. However the primary communication and administration myfxbook is @ForexManagerDBA
4. We have not included the more recent 'HL' (High Leverage) VIP accounts at other recognised brokers, as those results are too explosive! Even though the strategy is the same, these 'HL' accounts are traded at higher leverage / risk than our usual 'VIP' accounts.
We have announced the 6 Year Anniversary of our MyFxBook Verified Performance here https://www.myfxbook.com/community/experienced-traders/6-year-anniversary-our-teams/968890,1
In fact, our one PAMM at a highly recognised broker achieved, over a period of 4 YEARS! an average profit of +5.4% per month with only -9.5% maximum DD.
Our combined statistics for our PAMMs and 2 of our Clients achieved, over a period of 6 YEARS! an average profit of +8.6% per month with only -12.3% maximum DD.
Attached is a breakdown of the statistics and the accounts are public, along with many more. At the bottom of this post is an explanation of the performance calculations. It took us 30 minutes to generate these statistics and you could do the same - if you choose to use other combinations of our accounts or ALL of them, the result will still be outstanding!
@FxMasterGuru
It is a shame that the world of forex, investments and managed accounts has many participants that have abused the trust of the Investor. Therefore we respect yours and any Investor's due diligence, but there is only so much sharing and verifying we can do - the fact is that we do generate a substantial return from trading Forex and have done so for over 6 Years. Many others have already identified our service and mentioned it on this forum. Yes we do face some broker challengers (which long term trader doesn't!), but it would take years for one Client to fill our current solutions, by which stage we would have numerous other solutions in place - these are mere stepping stones. Transfer costs are shared with the Client and are trivial in relation to risk / reward of trading. The account turnover frequency stated is hardly the reality - most accounts are 6 to 12 months, up to 4 years...if an account is active for shorter, then that is usually because it has been highly profitable...no complaints! We choose to make profits as quickly as it is 'safe' to do so...you may consider 60%+ profit in 12 months as suitable, whereas if we make it in a fraction of that time, we are fine with a bit of extra work or cost. Besides, very large Clients are offered long term institutional solutions or any variation thereof that they so wish. We have PLENTY of continuous account performances to provide more than enough statistical relevance...It is all there and comes down to whether or not a person Chooses to SEE it...we offer more than any other service, bar none. The fact that we trade numerous Separate accounts (without a copier or MAM) shows far more statistical relevance and discipline and skill than trading just one account or MAM, which would be a breeze in comparison. By the time you had posted in 2013, searching for your suitable trader, we had already achieved 4 years of statistics for which you are still searching... If you had joined then where would you be now after 2 years. If you were to join now, where will you be in another 2 years. Does that mean our trading is for everyone? No, of course Not! there are many more factors to consider than statistics alone. Please understand that even though our trading or service may not suit your personal requirements, we ask that our Team's performance is seen for what it is - an outstanding achievement! especially considering the lack of other long term verified participants. Thank you for your consideration.
Calculating our Verified Performance:
1. There is a glitch on Mfb that does not stop recalculating the monthly average even though the account has not been traded for years and therefore, with time, the displayed monthly average profit decreases for these inactive accounts. In order to correct the monthly performance statistics on some of our old accounts, it is required to change the account's custom end date to after the final trading activity...OR for greater accuracy...manually add up each month's profit or loss and divide by the total number of months to find the true average profit - this is the method we used as seen in the attached document.
2. Maximum DD will be correct as it is not affected by time.
3. We have more than 1 myfxbook account, the other is @Ubertrading so if you want to verify that both are ours, just send us a message at both to confirm. However the primary communication and administration myfxbook is @ForexManagerDBA
4. We have not included the more recent 'HL' (High Leverage) VIP accounts at other recognised brokers, as those results are too explosive! Even though the strategy is the same, these 'HL' accounts are traded at higher leverage / risk than our usual 'VIP' accounts.
We have announced the 6 Year Anniversary of our MyFxBook Verified Performance here https://www.myfxbook.com/community/experienced-traders/6-year-anniversary-our-teams/968890,1
Trade to Win
May 30, 2015 at 20:33
how do you move funds FxMasterGuru? Do you personally bring cash to the broker's offices? Wires cost $25-50 these days.
FxMasterGuru posted:drago posted:
@FxMasterGuru
I think it was discussed about 1.5 months ago, but I can't see clear your opinion about
https://www.myfxbook.com/members/ForexManagerDBA
For me it looks very impressive. What do you think.
@drago
It is hard to comment on this strategy as most accounts are closed after a few weeks, so there is no continuous trade history and enough data for statistical evaluation.
The likely reason why accounts are closed after a few weeks is that the brokers DON'T LIKE at all this strategy and they attack the accounts by their 'virtual dealer plug-ins', i.e. with their parasite software to limit the strategy's profitability. Apparently successfully, as the accounts are closed then reopened at a new broker... Rinse and repeat...
So overall the strategy can be good, but due to the above-mentioned reasons it is impossible to evaluate it.
Also, there is a risk that the traders/managers run out of potential new (and reliable) brokers. In addition, it is time consuming and costly to open new broker accounts and moving the funds back-and-forth every month...
Member Since May 04, 2012
1608 posts
May 31, 2015 at 00:14
@ForexManagerDBA
Thanks for explaining your service and mentioning @Ubertrading. Now I am more familiar with your service and the nature of your strategy (which I will not mention here) as one of my friends used to be a client of yours (either directly or via one of your introducing agents).
I have to agree that your strategy would PROBABLY fulfill the stated conditions if we could merge the AVERAGE performances of all our managed accounts on a timeline of 6 years.
In spite of the claimed success my friend is not a client of yours any longer, the reasons of which MIGHT affect other investors, too:
1. In case a (previously 'TopListed') broker decides to scr*w a client account, it can cause MAJOR damage to the account, up to -30% DD within 30 minutes, i.e. taking away about 6 months' worth of profit. (Please correct me if I were wrong.)
- My friend has experienced it with one of your TopListed brokers, so his 6 months' profits were gone (although not in '30 seconds') but in 30 minutes. Possibly he was just 'unlucky', but being 'unlucky' even just once a year can be detrimental.
2. The constant transfer of funds between accounts was more work-intense - at least in case of my friend - than you mentioned. On a few occasions by the time the new account was set up and funded, that specific 'TopListed' broker was already removed from the 'TopList', and was not recommended any longer.
In other words:
- It took 1 week to get the funds back from the old broker.
- Another week or two to establish and fund the new account.
- And one more week to bring the funds back from the 'delisted' broker.
In summary: 3-4 weeks can be wasted during which 3-4 weeks the money does not work but suffers 3x wiring fees.
3. Even if we don't consider the above factors (i.e. 'being unlucky' sometimes and moving funds around brokers) the performance fee is pretty high, so an investors has to deduct it from his/her 60% yearly profit. In addition, the investor also has to deduct his/her income tax calculated based on GROSS PROFITS (i.e. on the total profits before paying your performance fees). So - calculating with an average income tax rate - an investor ends up with about 20% net profit per year, i.e. 1.6% per month.
Of course, 20% net profit per year is NOT BAD AT ALL... But how much money an investor has to put in a HIGH-RISK ENVIRONMENT (and move from broker to broker) to make a decent profit on his investment with your service...?
Lets say someone invests $100k. It means that he might expect $20k per year net profit (after commissions and taxes). Not really a foundation for a plush life... So an investor would have to invest at least $1 Million dollars to make $8.5k a month, which would provide a comfortable living anywhere in the world. But how many investors are willing to put $1 Million in Forex broker accounts after the recent collapses of many brokers (incl. Alpari UK) and all the broker scams going around...?? (Just check out the ongoing Forex broker scam cases on ForexPeaceArmy: https://www.forexpeacearmy.com/forex-forum/open-cases/ )
When the owner of a brokerage decides to take off with the 'segregated client account' funds, like Reza Mokhtarian of Capital Trust Markets did just recently (which broker was once listed as a 'TopBroker'), then ALL FUNDS ARE GONE within '30 seconds':
https://www.forexpeacearmy.com/forex-forum/scam-alerts-folder/39614-capital-trust-markets-capitaltrustmarkets-com-possible-scam-alert.html
Thanks for explaining your service and mentioning @Ubertrading. Now I am more familiar with your service and the nature of your strategy (which I will not mention here) as one of my friends used to be a client of yours (either directly or via one of your introducing agents).
I have to agree that your strategy would PROBABLY fulfill the stated conditions if we could merge the AVERAGE performances of all our managed accounts on a timeline of 6 years.
In spite of the claimed success my friend is not a client of yours any longer, the reasons of which MIGHT affect other investors, too:
1. In case a (previously 'TopListed') broker decides to scr*w a client account, it can cause MAJOR damage to the account, up to -30% DD within 30 minutes, i.e. taking away about 6 months' worth of profit. (Please correct me if I were wrong.)
- My friend has experienced it with one of your TopListed brokers, so his 6 months' profits were gone (although not in '30 seconds') but in 30 minutes. Possibly he was just 'unlucky', but being 'unlucky' even just once a year can be detrimental.
2. The constant transfer of funds between accounts was more work-intense - at least in case of my friend - than you mentioned. On a few occasions by the time the new account was set up and funded, that specific 'TopListed' broker was already removed from the 'TopList', and was not recommended any longer.
In other words:
- It took 1 week to get the funds back from the old broker.
- Another week or two to establish and fund the new account.
- And one more week to bring the funds back from the 'delisted' broker.
In summary: 3-4 weeks can be wasted during which 3-4 weeks the money does not work but suffers 3x wiring fees.
3. Even if we don't consider the above factors (i.e. 'being unlucky' sometimes and moving funds around brokers) the performance fee is pretty high, so an investors has to deduct it from his/her 60% yearly profit. In addition, the investor also has to deduct his/her income tax calculated based on GROSS PROFITS (i.e. on the total profits before paying your performance fees). So - calculating with an average income tax rate - an investor ends up with about 20% net profit per year, i.e. 1.6% per month.
Of course, 20% net profit per year is NOT BAD AT ALL... But how much money an investor has to put in a HIGH-RISK ENVIRONMENT (and move from broker to broker) to make a decent profit on his investment with your service...?
Lets say someone invests $100k. It means that he might expect $20k per year net profit (after commissions and taxes). Not really a foundation for a plush life... So an investor would have to invest at least $1 Million dollars to make $8.5k a month, which would provide a comfortable living anywhere in the world. But how many investors are willing to put $1 Million in Forex broker accounts after the recent collapses of many brokers (incl. Alpari UK) and all the broker scams going around...?? (Just check out the ongoing Forex broker scam cases on ForexPeaceArmy: https://www.forexpeacearmy.com/forex-forum/open-cases/ )
When the owner of a brokerage decides to take off with the 'segregated client account' funds, like Reza Mokhtarian of Capital Trust Markets did just recently (which broker was once listed as a 'TopBroker'), then ALL FUNDS ARE GONE within '30 seconds':
https://www.forexpeacearmy.com/forex-forum/scam-alerts-folder/39614-capital-trust-markets-capitaltrustmarkets-com-possible-scam-alert.html
Please click "Vouch" if you liked my post. If not, just put me on your Blocked list. :o)
Member Since May 04, 2012
1608 posts
May 31, 2015 at 00:20
zarni posted:
how do you move funds FxMasterGuru? Do you personally bring cash to the broker's offices? Wires cost $25-50 these days.
As far as I know you cannot just walk in with cash to any broker (as far as I know none of them accepts cash deposits).
Please click "Vouch" if you liked my post. If not, just put me on your Blocked list. :o)
Member Since Dec 11, 2011
33 posts
May 31, 2015 at 08:46
@FxMasterGuru
Our strategy DOES (not 'probably') fulfil the statistics you were looking for, again you CHOOSE Not to SEE or cannot humble yourself enough to acknowledge. We provided a 4 YEAR verified myfxbook with a reputable broker, which gained over 5% per month for less than 10% DD, No Grid, No Martingale (repeat). Show us ANYONE else that can vaguely compare even to just that one of our many verified PAMMs...you wanted one and we provided it, you should be ecstatic...you have waited years to see this...
Do you get it? Do you realise how significant that realisation is? Or is it because you prefer to sit on the side-lines and criticise and find fault with anything and everything. Agreed, NOTHING is perfect to a mere human, but we are not referring to perfection! Tornados and hurricanes frequent many areas of the globe...do you see those inhabitants living in houses or cowering in holes underground just in case the sky comes down on their heads! You either choose to make the most of the 'best' or continue to wait in fear for your holy grail...everyone's holy grail is different. That is fine, we respect that (and of course relieved that we don't have Clients this cynical), but it is entirely unnecessary to exaggerate or generalise our performance and our service.
As mentioned, we are also human and also make mistakes. Your friend obviously 'justified his reasoning' to you for why he left our service and it paints ONE picture. There are 'tried and tested' solutions and there are also those that should be suitable (based on numerous factors), but still need to be fully tested...your friend most likely joined the later for some reason, who knows, if we could go back and change the solution he was offered, we would. Based on his, seemingly unfortunate experience, we apologise and can understand how he may have felt and his reason for leaving. At least he didn't lose money, which is more than can be said about most others on this journey...it is very rare that we lose Clients' money or even losing trades with our 'vip' strategy. Does that mean everyone has such an experience...of course not, you only have to glance through our recent performances to know that we are still doing okay and if he had persisted, where would he be now, who knows.
Most of the accounts you see as 'inactive', had their funds transferred internally, not withdrawn. There are many ways to skin a cat and we have been successful for YEARS. Most of our Clients were with the one solution and had the experience of having trading disabled for the first time since early 2014, one year not weeks, for many it was their first time ever, and before that it was years. They each walked out with 40 - 100%+ from just their last month. PLUS the substantial gains from the months leading up to that! How terribly upset they were...Not!
You are still referring to trivial transfer costs that are considered as part of the cost of trading i.e. (repeat) the Client may deduct half the withdrawal/deposit fee from our performance fee, which is fair. In comparison, to save transfer costs, you could join your bank's internal transfer fixed deposit savings account and come back AGAIN after 2 years to see how much you will have saved... maybe you will have further justification, who knows.
RISK: By ranting about a high risk trading environment, we take it you have been burnt and what is left of your money is nice and safe in your bank. What IF this, what IF that! You obviously don't have the capacity for trading or investing. HELLO this is a TRADING COMMUNITY! How many have used Alpari at some point?! Loads! I know we did some years ago, but not recently. We have always known it was a low capitalised broker...common sense, you don't deposit substantial amounts with these small brokers (aka 'HL VIP' solutions). If someone thinks that $10k is a lot of money and that they cannot afford to lose it, then they MUST NOT join our service!! because that is probably the minimum risk to their deposit, since we cannot accommodate every small deposit...we are not entirely retail traders and have plenty of our own funds invested. Everyone needs to understand the risks associated with trading and some WILL choose to leverage a PORTION of their net worth...to deposit their entire net worth is just silly. However it is fairly obvious that we have a significant trading edge so why not leverage a portion...would you prefer the masses wait in fear for your holy grail? I can assure you that most will just lose patience and jump on board the next soon-to-blow-up martingale or grid, or just about any EA or signal for that matter, or would it not be 'more wise' to use a service that is proven over a period of 6 years with a strategy that has been used and improved over and over again for much longer than that. It comes down to probability and our record says probability is likely to be on our side. However, as mentioned, we are Not perfect and we are Not for everyone, and that is fine. Thank you
If ANYONE is humble enough to acknowledge our Forex Manager Team on their remarkable 6 YEAR ANNIVERSARY of Verified Performance on MyFxBook, or congratulate our amazing Clients on their results, please do so on this thread, Thanks:
https://www.myfxbook.com/community/experienced-traders/6-year-anniversary-our-teams/968890,1
Our strategy DOES (not 'probably') fulfil the statistics you were looking for, again you CHOOSE Not to SEE or cannot humble yourself enough to acknowledge. We provided a 4 YEAR verified myfxbook with a reputable broker, which gained over 5% per month for less than 10% DD, No Grid, No Martingale (repeat). Show us ANYONE else that can vaguely compare even to just that one of our many verified PAMMs...you wanted one and we provided it, you should be ecstatic...you have waited years to see this...
Do you get it? Do you realise how significant that realisation is? Or is it because you prefer to sit on the side-lines and criticise and find fault with anything and everything. Agreed, NOTHING is perfect to a mere human, but we are not referring to perfection! Tornados and hurricanes frequent many areas of the globe...do you see those inhabitants living in houses or cowering in holes underground just in case the sky comes down on their heads! You either choose to make the most of the 'best' or continue to wait in fear for your holy grail...everyone's holy grail is different. That is fine, we respect that (and of course relieved that we don't have Clients this cynical), but it is entirely unnecessary to exaggerate or generalise our performance and our service.
As mentioned, we are also human and also make mistakes. Your friend obviously 'justified his reasoning' to you for why he left our service and it paints ONE picture. There are 'tried and tested' solutions and there are also those that should be suitable (based on numerous factors), but still need to be fully tested...your friend most likely joined the later for some reason, who knows, if we could go back and change the solution he was offered, we would. Based on his, seemingly unfortunate experience, we apologise and can understand how he may have felt and his reason for leaving. At least he didn't lose money, which is more than can be said about most others on this journey...it is very rare that we lose Clients' money or even losing trades with our 'vip' strategy. Does that mean everyone has such an experience...of course not, you only have to glance through our recent performances to know that we are still doing okay and if he had persisted, where would he be now, who knows.
Most of the accounts you see as 'inactive', had their funds transferred internally, not withdrawn. There are many ways to skin a cat and we have been successful for YEARS. Most of our Clients were with the one solution and had the experience of having trading disabled for the first time since early 2014, one year not weeks, for many it was their first time ever, and before that it was years. They each walked out with 40 - 100%+ from just their last month. PLUS the substantial gains from the months leading up to that! How terribly upset they were...Not!
You are still referring to trivial transfer costs that are considered as part of the cost of trading i.e. (repeat) the Client may deduct half the withdrawal/deposit fee from our performance fee, which is fair. In comparison, to save transfer costs, you could join your bank's internal transfer fixed deposit savings account and come back AGAIN after 2 years to see how much you will have saved... maybe you will have further justification, who knows.
RISK: By ranting about a high risk trading environment, we take it you have been burnt and what is left of your money is nice and safe in your bank. What IF this, what IF that! You obviously don't have the capacity for trading or investing. HELLO this is a TRADING COMMUNITY! How many have used Alpari at some point?! Loads! I know we did some years ago, but not recently. We have always known it was a low capitalised broker...common sense, you don't deposit substantial amounts with these small brokers (aka 'HL VIP' solutions). If someone thinks that $10k is a lot of money and that they cannot afford to lose it, then they MUST NOT join our service!! because that is probably the minimum risk to their deposit, since we cannot accommodate every small deposit...we are not entirely retail traders and have plenty of our own funds invested. Everyone needs to understand the risks associated with trading and some WILL choose to leverage a PORTION of their net worth...to deposit their entire net worth is just silly. However it is fairly obvious that we have a significant trading edge so why not leverage a portion...would you prefer the masses wait in fear for your holy grail? I can assure you that most will just lose patience and jump on board the next soon-to-blow-up martingale or grid, or just about any EA or signal for that matter, or would it not be 'more wise' to use a service that is proven over a period of 6 years with a strategy that has been used and improved over and over again for much longer than that. It comes down to probability and our record says probability is likely to be on our side. However, as mentioned, we are Not perfect and we are Not for everyone, and that is fine. Thank you
If ANYONE is humble enough to acknowledge our Forex Manager Team on their remarkable 6 YEAR ANNIVERSARY of Verified Performance on MyFxBook, or congratulate our amazing Clients on their results, please do so on this thread, Thanks:
https://www.myfxbook.com/community/experienced-traders/6-year-anniversary-our-teams/968890,1
Trade to Win
Member Since May 04, 2012
1608 posts
May 31, 2015 at 12:55
(edited May 31, 2015 at 13:25)
Thanks for the detailed explanation. However, I still have my own reservations.
1. Your service PROBABLY fulfills the criteria. PROBABLY, because you can show no single account to prove it. And since there is no single account as proof, the shown accounts could be EASILY 'cherry-picked' and the provided summary could be 'cooked'. I don't say that is the case, but it is POSSIBLE. So the 'probable' in my above statement is justified.
2. With the high performance fees you charge your business is the most profitable business model one can imagine, making tons of money at practically no risk. On the other hand - as detailed in my previous note - for investors with less than 300k USD to invest, it can provide only minimal passive income. At best.
3. My friend has lost 30% of his account within 30 minutes with your service, which was worth of 6 month's of his GROSS profits. In addition, he has lost all the performance fees he had paid monthly during those six months, so after 6 months he ended up with -15% NET LOSS, which loss was the unrefundable performance fees he paid. It is a fact. Of course he could have used his losses to offset future gains, but he just did not want to continue and risk his funds for another 6 months to lose all gross profits again within 30 minutes. Not to mention the unrefundable performance fees.
In summary, should an investor be happy with 20% yearly net income (after taxes) and accept the risk of losing 30% of his account within 30 minutes, then I would recommend your services.
Nevertheless, I am still not convinced that the strategy fulfills all criteria (for the technical reasons mentioned above).
1. Your service PROBABLY fulfills the criteria. PROBABLY, because you can show no single account to prove it. And since there is no single account as proof, the shown accounts could be EASILY 'cherry-picked' and the provided summary could be 'cooked'. I don't say that is the case, but it is POSSIBLE. So the 'probable' in my above statement is justified.
2. With the high performance fees you charge your business is the most profitable business model one can imagine, making tons of money at practically no risk. On the other hand - as detailed in my previous note - for investors with less than 300k USD to invest, it can provide only minimal passive income. At best.
3. My friend has lost 30% of his account within 30 minutes with your service, which was worth of 6 month's of his GROSS profits. In addition, he has lost all the performance fees he had paid monthly during those six months, so after 6 months he ended up with -15% NET LOSS, which loss was the unrefundable performance fees he paid. It is a fact. Of course he could have used his losses to offset future gains, but he just did not want to continue and risk his funds for another 6 months to lose all gross profits again within 30 minutes. Not to mention the unrefundable performance fees.
In summary, should an investor be happy with 20% yearly net income (after taxes) and accept the risk of losing 30% of his account within 30 minutes, then I would recommend your services.
Nevertheless, I am still not convinced that the strategy fulfills all criteria (for the technical reasons mentioned above).
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May 31, 2015 at 14:09
It was a rhetorical question.....If you didn't get that I am afraid there is nothing further to discuss here.
FxMasterGuru posted:zarni posted:
how do you move funds FxMasterGuru? Do you personally bring cash to the broker's offices? Wires cost $25-50 these days.
As far as I know you cannot just walk in with cash to any broker (as far as I know none of them accepts cash deposits).
Member Since May 04, 2012
1608 posts
May 31, 2015 at 15:00
(edited May 31, 2015 at 15:04)
zarni posted:
It was a rhetorical question.....If you didn't get that I am afraid there is nothing further to discuss here.FxMasterGuru posted:zarni posted:
how do you move funds FxMasterGuru? Do you personally bring cash to the broker's offices? Wires cost $25-50 these days.
As far as I know you cannot just walk in with cash to any broker (as far as I know none of them accepts cash deposits).
One never knows if a question were rhetoric or not... There are new traders here who may not know...
Anyway, a client with the above mentioned frequent 'broker-switch' requiring strategy and $10k funding might make about 500 USD a month (before the 50% performance fee and before taxes). So after forking over 50% his profits and paying the income tax what is left is about 200 USD.
My friend had to mive funds AT LEAST once a month (sometimes twice) to a new broker with the above service, so 2 x 25 USD wire transfer fees had taken 25% of his net profit, so he ended up with 150 USD net profit from the 500 USD gross profit. Until ALL was gone within 30 minutes...
In other words the wiring fees can add up and can be significant with the above promoted strategy.
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Member Since May 04, 2012
1608 posts
Jun 01, 2015 at 02:39
@ForexManagerDBA
'6 Year Anniversary of our Team's Verified Performance since 2009' Self-Congratulatory page is gone... ('The page you're looking for was either removed or doesn't exist.')
I guess the clients were not so enthusiastic after all... Learning my friend's story (losing 30% in 30 minutes) I am not that surprised.
'6 Year Anniversary of our Team's Verified Performance since 2009' Self-Congratulatory page is gone... ('The page you're looking for was either removed or doesn't exist.')
I guess the clients were not so enthusiastic after all... Learning my friend's story (losing 30% in 30 minutes) I am not that surprised.
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Jun 01, 2015 at 07:52
well most would know. it's quite an obvious knock on your gripe about costs of moving funds.
yes if you trade like a 200-500 dollar account it would be of significance but otherwise it's not. anyway i doubt anybody would be willing to manage a 200 dollar account for you anyway.
you seem to equate and apply this situation to everybody else's situation. i'd suggest you stash your money under your mattress and forget about trading for a while.
yes if you trade like a 200-500 dollar account it would be of significance but otherwise it's not. anyway i doubt anybody would be willing to manage a 200 dollar account for you anyway.
you seem to equate and apply this situation to everybody else's situation. i'd suggest you stash your money under your mattress and forget about trading for a while.
Member Since Nov 11, 2014
6 posts
Jun 01, 2015 at 08:05
I'm just curious. What is wrong with that strategy so that you must frequently change the broker ? Why ? Strategy requires something that is against ToS of those brokers ? Sounds a bit fishy, to be honest.
Member Since Dec 11, 2011
33 posts
Jun 01, 2015 at 08:08
FxMasterGuru posted:
Thanks for the detailed explanation. However, I still have my own reservations.
1. Your service PROBABLY fulfills the criteria. PROBABLY, because you can show no single account to prove it. And since there is no single account as proof, the shown accounts could be EASILY 'cherry-picked' and the provided summary could be 'cooked'. I don't say that is the case, but it is POSSIBLE. So the 'probable' in my above statement is justified.
2. With the high performance fees you charge your business is the most profitable business model one can imagine, making tons of money at practically no risk. On the other hand - as detailed in my previous note - for investors with less than 300k USD to invest, it can provide only minimal passive income. At best.
3. My friend has lost 30% of his account within 30 minutes with your service, which was worth of 6 month's of his GROSS profits. In addition, he has lost all the performance fees he had paid monthly during those six months, so after 6 months he ended up with -15% NET LOSS, which loss was the unrefundable performance fees he paid. It is a fact. Of course he could have used his losses to offset future gains, but he just did not want to continue and risk his funds for another 6 months to lose all gross profits again within 30 minutes. Not to mention the unrefundable performance fees.
In summary, should an investor be happy with 20% yearly net income (after taxes) and accept the risk of losing 30% of his account within 30 minutes, then I would recommend your services.
Nevertheless, I am still not convinced that the strategy fulfills all criteria (for the technical reasons mentioned above).
We didn't realise we would have to spell this all out repeatedly when its all there in the first post...maybe now you understand why we are fine with focusing on our own funds and that of our existing Clients...imagine dealing with burnt-blind sceptics all day long, no thanks, you can't pay us enough.
We are Not here to look for your recommendation or approval, merely to state our claim, which is FACTUAL - we met the criteria YEARS ago. Many others will have the capacity to see our claim as the truth. You just need a bit more spoon feeding in order to lift up the blinkers...so here we go again:
1. INCORRECT - (repeated now for the 3rd time) we provided you with a SINGLE verified and regulated PAMM account consisting of 51 MONTHS to be exact! (did you even look?! its the 2nd PAMM on the PDF). 51 months = 4 YEARS and 3 months! +5.4% per month! and -9.5% DD!...what do you Not understand about that? Simple, just go back to our post, download the pdf or jpg document, there is only 1 PAMM name (FTK-4207) with 51 months history...find that account on ubertrading myfxbook (excuse the ton of accounts). Then, please, to spare us hearing that the monthly average is incorrect, please read our post again and follow the instructions by adding up the profits for each month and divide by the total number of months. To avoid further complications and errors, attached is the document in excel format...now all you need to do is check it. Then come back here and apologise for getting it wrong multiple times in this thread and for stating that we are 'cherry-picking' - we have better things to do and any combination of our accounts, even all of them together, will still result in an excellent performance i.e. substantially profitable over the last 6 years.
2. Which myfxbook and statistics are you looking at...not ours. How much passive income do you require? First you started with 5% gross per month and we have shown that even 8% over 4 to 6 YEARS is possible as a combined portfolio, now its still not good enough...tell that to every serious trader and hedge fund and investment out there and they will think you are loony. Many of the 500k Clients made about 20% NET last month alone...most with minimal DD. That is $100k NET...how long do you take to earn $100k NET in your job? The smaller accounts 30k to 100k made up to 50% Net in 1 month, let alone the last year. How long does it take you to earn $15k to $50k NET? Now lets take a look at our 'HL VIP' verified public accounts...many of these made 25% NET in the last month or two...that is $2.5k Net profit on a $10k account in 2 months...that is just ONE account, our clients EACH have MANY accounts, because they listen and understand how it works. Account #1 made $174k in 7 months, which is 9% per month with -0.16% DD. Account #2 made 109k in 6 months, which is 8.7% per month with only -0.10% DD. Of course not every one is as profitable as the next, and every broker is different and occasionally we make mistakes, which is why those that can afford to, do have multiple accounts...allowing for some diversification.
3. Your retelling of your friend's experience is bizarre. How is it even possible to move around that much in such a short period of time unless HE was TESTING various brokers. Occasionally a Client or IB go on a mission opening various broker accounts that are Not already fully tested - we don't necessarily complain since it gives us the chance to TEST most of the brokers out there, that's most likely what happened...testing is fairly quick, but actual trading takes time. You asked to be corrected if you wrong, and that IS what we are doing...We very much doubt you have the full facts...please tell your friend to contact us so that we can investigate...if he comes forward we will discuss RESUMING the RECOVERY, which could take us as little as one month on a $10k acc. Unrefundable: how much experience do you really have...since when is there a refund for a genuine trading related DD...we would love to claim back all our DDs from the many traders that have managed our funds like drunk monkeys. YOU can see for yourself on our various accounts that your friend's experience is out of the ordinary...or can you.
Performance fee: Jealousy makes...... Please read our profile page and our original post if we haven't already clarified how expensive it is to trade like this. Otherwise do it yourself...maybe you have $250k starting capital to spend on infrastructure? and monthly costs and the time it would take to progress from demo to live, and the fact that you are over a decade behind in experience. This is not a cheap $1k EA. Just ONE data feed can cost $20k per MONTH, we use many, then we have multiple collocated servers, service providers, software programmers and of course our time...since every single account is traded and managed separately (no copier, no MAM)...only a few money managers will even begin to understand how complex and much work that is. We would gladly sit back or hit the beach with a surf board and pay someone else the fee to do our job as effectively as we do it, but that's just unrealistic. It is what it is...if you think its too much to pay for this level of trading, then don't join and instead rather wait for Grail or deposit in the bank or with the next Grid MAM that charges 25-40% perf fee...No need to follow up and let us know how those turn out since you may run out of time for Grail to appear and then inflation will eventually destroy the 2nd and poor money management will blow the 3rd.
Attachments:
Trade to Win
Member Since Nov 11, 2014
6 posts
Jun 01, 2015 at 08:21
I'm just curious here. What's wrong with that strategy that clients have to frequently change brokers ? Was it something that violates the Terms of Service of those brokers ? Or strategy was capable of working only with lowlife brokers/marketmakers that clients need to take their money away before it's to late ? I don't get it, whats the point of changing brokers instead of using one broker that everyone can trust ?
Member Since May 04, 2012
1608 posts
Jun 01, 2015 at 13:01
(edited Jun 01, 2015 at 13:27)
@ForexManagerDBA
Since I have started this thread and it is NOT an advertisement forum for your account management services, so let me REITARATE one more time:
- You could not provide a single account's MyFxBook link showing the phenomenal performance.
- NOBODY should come to this thread with PDF and JPG performance statistics.... Nobody!
- Come on! Anybody can draft up a PDF/JPG performance statistics in 10 minutes...
- This is MyFxBook and ONLY MyFxBook verified real accounts can be considered in this thread.
I will not react to the rest of your ranting. I have already said what I wanted to say about your services and about my friend's experience. PLEASE SPREAD YOUR WISDOM SOMEWHERE ELSE!
Since I have started this thread and it is NOT an advertisement forum for your account management services, so let me REITARATE one more time:
- You could not provide a single account's MyFxBook link showing the phenomenal performance.
- NOBODY should come to this thread with PDF and JPG performance statistics.... Nobody!
- Come on! Anybody can draft up a PDF/JPG performance statistics in 10 minutes...
- This is MyFxBook and ONLY MyFxBook verified real accounts can be considered in this thread.
I will not react to the rest of your ranting. I have already said what I wanted to say about your services and about my friend's experience. PLEASE SPREAD YOUR WISDOM SOMEWHERE ELSE!
Please click "Vouch" if you liked my post. If not, just put me on your Blocked list. :o)
Member Since May 04, 2012
1608 posts
Jun 01, 2015 at 13:26
(edited Jun 01, 2015 at 13:29)
YuriyZelinskiy posted:
I'm just curious here. What's wrong with that strategy that clients have to frequently change brokers ? Was it something that violates the Terms of Service of those brokers ? Or strategy was capable of working only with lowlife brokers/marketmakers that clients need to take their money away before it's to late ? I don't get it, whats the point of changing brokers instead of using one broker that everyone can trust ?
@YuriyZelinskiy
There is nothing wrong with their 'phenomenal' strategy which DOES WORK and it is LEGITIMATE. Also, it does not violate any broker's ToS. So your question is very justified.
The explanation: 100% of brokers - which offer large leverage - 'B-book' their clients, even if they label themselves as 'ECN'. There is nothing wrong with being 'B-booked' as actually it can offer better executions (if no 'virtual dealer plug-ins' are attached). So when these guys strategy makes money: BROKERS LOSE, as all the profits come from their 'B-booking' pockets.
So after some time these brokers realize that they can only lose on these clients, and at that point they have two choices:
1. They either 'A-book' them, which can go on for a while, but then the brokers' Liquidity Providers start complaining about losing against these traders and they pressure the brokers to get rid of these profitable clients. Usually the brokers claim a breach of ToS which is NOT TRUE and they cannot even prove it. So they make a LAST OFFER to the client which is hard to refuse: they will pay out profits only if the account holder takes all his funds and stops trading. So usually that is the time when one has to move on...
2. Since many brokers ONLY 'B-book' clients (i.e. they are NOT connected to any Liquidity Provider at all), they either come up with the same stupid excuse of ToS violation, or BETTER (what happened to my friend): attach their 'virtual dealer plug-ins' made by Boston Technologies causing significant execution delays and slippages, destroying the strategy's edge and causing huge losses. So after the first such major loss the client has no choice but to move on...
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