Alpari Systematic

😲 Looks like you're going to have to do it the good ole fashioned way.

It's gone green!!

The other day I was driving in my car listening to the radio and the DJ said, right if you're a vampire phone in. Right on cue a 16 year old phoned in and declared she was a day walker. Not quiet a vampire but she knows someone whose at least displayed an interest in biting her. I was once young to, but man I don't think I was ever that gullible...

That's how I feel with this thing. Gullible.

Tradency are in the process of recoding their entire software. I had a call with them the other week.
They are planning to restrict the maximum number of trades a trader can open and reduce the maximum stop loss as well.

They feel there are too many people writing systems to abuse the limits within their current system and want to attract more serious traders with strategies that are more sensible for real life trading.

I was quite impressed with what I saw.
No Mirror Signal provider is perfect but I assessed them all when I first started with Cast Iron Man and I found Tradency to easily be the best and most professional.

Well, if they can get their actual trades to mirror the real trades it would help.

According to their graph I coined it on a system yesterday, but the system didn't have 1 winner. The reality and as advertised are two very different things. And that's before I do even one real trade.

With all the down time Monday and the graphs that are so far off, I must say I'm deeply suspicious of their technical side.

I can see the advantages, but I don't think they have it together enough to consider using them. I'd do it on a macro account. $500 or something, but not on $2k

I thought I'd post the graph quickly and he trades, but I can't, they're down again.... 😲

Does my fish look upside down to anyone else?

Not if you know the conventional fin arrangements of fish.

It's interesting you should raise these issues Elkart.

I've been contacted today by one of my subscribers and he's complained about some trades that aren't correct. I've investigated his account and there are about five trades that have not closed out when my feeder account has closed the trades. I have asked Tradency to investigate but it's looking as though maybe they do have some issues with trade management.

I read quite a bit on that on the web. And also latency in reports basically. So if a system goes haywire sometimes that info doesn't reach you until it's to late.

But Steve, seeing that you're talking to other users, ask them if they're making money....I'd love to know.

Actually the guy I spoke to has lost a lot, I nearly had a heart attack when he told me how much. Mainly I think because he over leveraged. It's quite common in the mirror signal provider world. Investors just see dollar signs. They stick a load of different systems on there and the equity curve tells them that they will be a millionaire by teatime and so they decide to go with it.

Unfortunately, it's generally the case that the people who can't trade, don't understand lot sizes, leverage or drawdown are the ones that end up using signal provider services. It's a definite case of a little knowledge is a dangerous thing.

Even the ones who do understand it ends up using the signal providers.

The temptation is the easy money. And even the best in the world didn't really make their money from investing. They made their money in convincing other people they can invest for them and then sold that to the public by listing.

Just look at Madoff, he didn't even bother with the investing bit. All going to end in tears if you ask me.

Elkart posted: But I can't find any comments on the web about this systematic. Nobody is really talking about it, I don't know if that's a good or bad thing...

You're right. Since you raised this issue I've been looking around on the web as well but I can't find much. Either there aren't many people using it or they don't like talking about it. And we all know that punters like to talk about being ripped off (whether by a broker or an EA) so that leads me to think that there aren't many people using these systems.

Patience,

I found a bit once I did a search for Tradency. The system is offered on a few brokers. Then threads like this one starts popping up.

https://www.elitetrader.com/vb/printthread.php?threadid=88802

I wouldn't put $2k down, basically I think people will put in high turnover systems and I don't trust their technology. I often can't get logged in, it crashes my browser and my computer, just chews through the memory. Might be because I'm using Mozilla.

Demo is to short as well, if I could run something for six months, see what works and what not, then maybe I'd put in say $100 to $250 and forget about it. See what happens, but as a serious proposition I don't think so.

 Lets just see if I can get that chart in here.

<a href='' target='_blank'><img src=''/></a>

This is the chart for a system called Rolls Royce - according to this it drew down and then banked some back. I don't have a single winning trade on record for the week!! So whatever they predict you're going to do and the reality are two different things. I don't know what they base the graphs on, but it's not the trades, I assure you. So you'll have to run for months to find out what's really going on and then it's still demo.

All in all I give it a big thumbs down. Quite likely to lose those hard earned bucks on this lot.

Thanks for that link. I just did a search on 'forex system selector' and stumbled across this thread at DailyFX https://forexforums.dailyfx.com/fss/35368-system-reviews-dailyfx-course-instructors-47.html. As it seems like you are having lots of problems with Tradency, I'm going to open a demo with the FXCM system selector for a laugh and see how it goes.

I used to provide signals for Tradency and some of my trades were not executed properly. BTW, if you are looking for 1000% a year, then expect to lose your shirt at the same time. The market changes from year to year; hence, performance will vary based on market opportunities.

As a system developer, I can tell you a little secret. Look for a good system and turn it on when it is losing NOT when it is winning. All trading systems go through a period of drawdown; hence, stay away when a system is winning. It is counter intuitive and most people will lose their money when they jump on the first winning system that they see.

The general idea was to diversify, so I loaded 20 systems. So if say 5 systems have trouble the other 15 will keep going. Give them minimum trade sizes.

So far I'm down $500 for last week. Haven't used more than $600 margin. So it's feasible if the technology was working, which it isn't.

I'm definitely not going to add a losing system. There's a whole bunch there that never made a cent.

Anyways, mute punt. Not doing it.

I'd be better of running some of my code and just drawing regularly till it wipes out, then start again. The old sock rule. Walk into the casino with money in your pocket - what you win you put in your sock - when the pocket is empty you walk out.

This Trandency thing is like throwing darts at the newspaper to pick stocks, except the news paper isn't accurate.

Elkart, I meant to say since you are having problems with Alpari/Tradency in my previous post so I'll see if the same thing happens with FXCM/Tradency's partnership. Well I've only loaded 5 systems to start with because I'm a conservative type of gal and in the words of Diana Ross 'I'm still waiting' ...... for something to happen 😄

@ Winsor - who on earth expects to earn 1000% per year? Ah ha ha ha ha ha ha - in my dreams .... actually, now that I think about it, not even in my dreams. I try to be realistic in my life 😉

I'm running a trial on ZipSignals at the moment. The site was started by somebody who lost money on ZuluTrade due to their poor execution of orders and he's aiming for high reliability. So hopefully no missed stop losses etc.

It would be really good if someone actually mastered the mirror signal business model as it's a great concept in theory. In practice it's used by people who can't trade themselves, get greedy and lose all their money.

Patience,

The thing is you get redirected to Tradency, so if if it's ODL or Alpari or FXCM, all the same thing. They just hang a different label on it for each company.

Steve yes, I hope someone gets it. But I must admit the inability to monitor and track correct execution will always be a worry....

Steve, this Zipzignals doesn't look to bad hey...