lkwong posted: I love scrolling back (3-6 months) through the thread and looking at the performance of some of these extremely profitable systems. They've usually been deleted.
You are so right, unfortunately. The truth is that you don't even need to scroll that far. I just clicked on a system advertised a couple of posts above, and look what I just found: 'Sorry, but this system was deleted by it's creator.' See for yourself:
What? You have 4 trades in an account and are now in the 7th heaven because you are in the top of profitable systems? Do you really believe you can repeat the performance of getting 822% gain over and over again? Because in my book what you have here is just a series of 4 lucky over-leveraged trades...
Keep doing that for another 96 trades, at least, and then you'll get more than attention, and I'm sure at 144% monthly return you won't even have to post anything, anywhere, since your inbox will be flooded by requests to buy your EA or have you manage accounts.
In other words, you missed the point LK Wong was trying to make: the systems that were advertised on this thread are nowhere to be found after a couple of months. They were either deleted, marked as private, not updated anymore, or simply had a drawdown that turns off even the most risky investor.
So, if you have a profitable strategy, good for you, trade it for a much longer period, gather a significant number of trades (I suggested 100), and then come back and prove me wrong. I would really love that!
Thank you for your message.
We have been trading the currency market for 10 years.
We have tried and tested so many systems and strategies.
The results of the LIVE accounts you saw were not achieved by chance, I can promise you that!
There is much more behind those Results and our System. Firstly, its the 'Approach'.
You can have a thousand ideas, and a thousand systems, but if you don't have the
right approach, you will fail in a short period of time. Secondly, 'Risk Management'
is a key factor in forex, which means you need to know your risk in proportion to your
Stop Loss. To give an example, I invite you to visit our website to see our Risk Profile table
We will only mention three main ideas here which make us successful, but there are others
which cannot be disclosed, so we leave with these 3 ideas :-)
1) Approach 2) Risk Management 3) Timing
Finally, if there were systems deleted or marked as private or not updated anymore, it can mean, one of two things, either luck was going with them for some time or their trading system approach was not good enough to live long ;-)
I agree with what you said, GMI, and have to congratulate you for replying so politely. So now it's only a matter of time for your system to show its profitability.
I'm not checking the systems posted here, nor replying to this thread, too often anymore, both because I'm focused on other things and because the majority of systems posted here turned out to be big time losers.
I wish you the best with your trading, and I'll probably check back in a couple of months.
I didn't mean to point out anyone in particular, and it was just a general thought I had when I skimmed through the older post.
The one thing that I would really like to see in myfxbook is an option to filter systems that members put up to certain criteria, like 1. total length of history 2. history / balance shown 3. live / demo 4. broker 5. expectancy
Would make it so much easier to find traders that fulfil a set of criterias that potential investors are looking for. Well, hopefully one day they'll be introduced.
Glad that someone caught what I was trying to say, instead of spamming me with more 'fantastic systems'.
How goes your system hunt ? Have you found anything thats sparked you interest yet ?
I made some connections (people that look to be as serious about trading as myself, or even more), but found no profitable system in which I would invest more than test money. Eventually decided to look elsewhere (i.e. stop the search through myfxbook posts), while also working on my own systems/tools.
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors.
Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance.
You could lose some or all of your initial investment. Do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions.
Any data and information is provided 'as is' solely for informational purposes, and is not intended for trading purposes or advice.
Past performance is not indicative of future results.