BalmFXSignals Discussion

I was one of the unfortunate individuals who followed the signals. The performance was good, then I went away for a short while in November, came back and my account was wiped out. When the end of December came and went, and I was not refunded the subscription +50% (which was 'guaranteed' as part of this plan), I followed up with Harrison. His reply was that this plan was no longer offered, although they kept taking my money for this plan. The new plan was a managed account where I would place $5,000 and this amount was capital protected.

Lessons learned:
(1) there is no such thing as a guarantee
(2) although a plan may sound good, be aware that the conditions/promises that form part of this plan will be changed without notice
(3) they do not use stop losses, which to me appeared to be the main reason for the poor performance
(4) massive drawdowns are tolerated

They have the potential to be a good performer, as long as they learn from their past errors. Judging by their recent performance https://www.myfxbook.com/members/balmfxsignals/balmfxsignals/802015, I would say nothing has been learned.

By the way, Harrison's 'solution' to the loss of my trading capital was to put $5,000 in an account for him to manage. The above performance is that 'solution.' If I followed his advice, I would have only $1,000 left in my account. As of today this myfxbook account is down 80%!