ranesh posted:
    1.
Just to clarify - ur calculation is incorrect. The reason u see a difference in ABS Gain and Cumulative gain is because of profit withdrawals as well as new deposits. Check the relevant section here on fxbook on how the 2 figures are calculated. U should be using the cumulative %gain in your calculation.

So this PAMM account is in overall profit and not at a loss of 6% as you say.

2.

This other person you are talking about must be Ben Smirts of TradingCompany. If anyone was 'shitting' it was him. Those that have been around here long enough are aware of what he did. My intention there was only to expose the blatant lie.

As far as my account here is concerned, everything displayed here is correct.

You will not hear me coming up with made-up stories of myfxbook bugs etc etc causing my equity to show incorrect figures. Nor will updates on this account ever stop simply because there is an equity-drawdown. The only thing that is incorrect here is the equity curve, which is probably because fxbook is still working on it. According to the equity curve here it shows that my equity has hit 100% a few times in March when in fact it hasn't yet, since around the end of November.

Other than that, everything else here is correct.

Most people think that one is a successful trader only if he/she is able to show HUGE %gains. Unfortunately, many people are misguided into believing that a Trader/Manager is not good unless he/she is able to show massive gains. There is no sense in making massive gains only to lose it soon after. Trading forex is not about making massive gains for a short time.... it's about surviving through low periods either due to unexpected circumstances that affect one's trading and/or during difficult market conditions and being profitable in the long term. There must have been a large number of accounts that went bust during the last few months because of the way the markets have been moving. If one is able to comfortably withstand such conditions by trading small (ie: low leverage) and still show profitability that is what matters. Using low leverage always has its advantages although it's a compromise on the %gains.

Even some of the best performing hedge funds only return around 20% to their clients on average annually. About 2000 hedge funds since end-2008 have gone bust. Just check out Barron's top 100 hedge funds survey.

Every account will go through a slow period at some point or another. There's nothing wrong with that. One should have sufficient patience to endure such times to be able to capitalize on the markets when the slow times are over.

Your opening statement leads me to believe that you are of the opinion that currency trading cannot be profitable. It may seem that way... but it's certainly not the case.

Have a nice weekend.


Being a trader myself I am aware of the quirks in myfxbook's numbers, but you are wrong in saying that it's the cumulative gain that is important, it's not - if you move an account from 100 down to 80 in one trade and then back to 100 in one trade your cumulative gain will show +5% because first you've lost 20% and then gained 25%. You will be at break-even and absolute gain will correctly show 0%.

I'm willing to give you the benefit of the doubt, let's say that there is an error in myfxbook's numbers and that you are profitable (Though taking into account the fact that your equity is considerably down you are definitely not at 40%+ as your cum. gain shows or even at 20%+ as your abs. gain shows). You talk about risking little and slowly gathering profits in order to stay in the game over the long run and I will not dispute that, because I do believe this to be true, however you are not trading according to those principles - an account with losses on open positions going up to 35% is not being traded conservatively, it is being traded extremely aggressively and the returns you are posting are nowhere near high enough to justify the amount of risk you expose yourself to. There is no promise that the positions you hold will ever turn around.

I'd like to address your statements about the profitability of hedge funds - yes, they don't generate insane profits, but that is because a) their investors would never allow them to run a 35% draw down on open positions and hold it for months, so they trade with far, far smaller positions than you do and b) they manage too much money to be able to scale into positions the same way traders managing less then a few million can (I assume that you are in that group), so they are confined to mid-long term trading and therefore have less exploitable opportunities available to them.

Here's a quote from warren buffet (who is a buy and hold, longest possible term investor):
'If I was running $1 million today, or $10 million for that matter, I'd be fully invested. Anyone who says that size does not hurt investment performance is selling. The highest rates of return I've ever achieved were in the 1950s. I killed the Dow. You ought to see the numbers. But I was investing peanuts then. It's a huge structural advantage not to have a lot of money. I think I could make you 50% a year on $1 million. No, I know I could. I guarantee that.' someone who could count the number of trades he makes a year on one hand making 50% makes you wonder what a trader making and order of magnitude (or two) more trades a year should make.

Ranesh,

The easiest way to defend yourself, would be to open your history, no?

Anyway, you equity line already shows that your strategy is very very very risky.

For beginners, when you see such gap between yellow and red line, and that the yellow is under the red one, so go away!

Also when you see on November 29: -3129 pips, jan 17: - 1033 pips, this is a little bit strange for a professionnla trader to accept such loss.

As i said for a long time, do not trust hidden history systems.

Uda,

Ranesh is not only on myfxbook for analysis. He s here to sell his managed account.

So, i just want to say that this trader is not as good as he pretend, and that it is very risky to invest money wiht him.

His strategy is not at all conservative (as he tried to mean it), but very agressive, for a very Thsmall return on investment.

The best way for him to prove that me and others are wrong is to be totally transparent, and to show his history.

Ranesh has the right to hide evrything he wants, but novice should be aware about the risks.

Olivier

speki posted:
    Interesting that people either like or desperately hate Ranesh but few seem to be neutral. I remember when people thought he was someone else - indeed their initials were the same but he wasn't who people thought he was. I also remember he ran demo systems for a long time before he went live and never hurried to get investors on board. I also remember Mr. Will (pipinvestments) who said he wouldn't bet 1 pip on Ranesh. And lookety look - who's in the game today? It's not Will, is it?


Working on improvements is all we can do to prevent problems in the future. I've found a solution for myself. It's CALLED auto STOP OUT to prevent ANY long term drawdown.

One who learns from their mistakes are ahead of those that believe that don't have a problem ( Remember Roberts ignorance and denial.) Who ever is hiding behind the hidden Trading History, doesn't bother me anymore. I've realized that the efforts are not worth the time and energy. Thankfully Solar and few other members here continue to have the energy to red flag and question others. It is the only way we can have an enviroment of true transparency where all of us can benefit from.

Wish Ranesh the best with your Equity recovery.

Speki- Whether I'm in the game or stroke out several times, the series is far from over.

ROFL ROFL. And did Olive10000 ever apologise to you Ranesh for accusing you of being serial investor account blower Robert Waltos who, by the way, remained conspicuously quiet when all that accusing was going on.