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How to recognize a Forex Scammer ?
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Adribaasmet

Member Since Aug 27, 2017  759 posts Adribaasmet Aug 21 2018 at 10:44
thirdbrainsa posted:
CarlosMZ posted:
ChenChenGu posted:
Surely best trader can get 90% win rate? I thought whole point of good trader is know when price rise

The best traders I've seen have 60-70% win rate. But you should not confuse win rate with profitability.
You can have 40% win rate and still be profitable. It's all about the strategy and lot sizes.


You right.

Winning rate is not really a good KPI even if you may have a good one :

https://www.myfxbook.com/members/thirdbrainsa/lev-britishjapanese/2596374/euZ14zLqFOa46dx20S0y

In this test, we are at 5 looses out 52 trades then about the 90% of winning rate with a 10'000 USD live account (just started we will see after)

The core is the money management and your winning/losing pips goals by trades.

Usually people with high winning rate have a low average win that pushes them to have a too high stop loss and very low winning goals then you have a model very weak....



Yes, I agree! Money management plan plays more important role here than the winning percentage!

EddyEdgardo

Member Since Aug 21, 2018  11 posts EddyEdgardo Aug 22 2018 at 06:01
Ratio is stop loss to average win is a key metric for me. usually that is how you can spot a scam account

Professional4X

Member Since Jan 05, 2016  1189 posts Professional4X Aug 23 2018 at 19:02 (edited Aug 23 2018 at 19:09 )
The account on this stats page is with grandcapital.

Grandcapital has been found to be a SCAM and Fraud broker.

https://www.forexpeacearmy.com/community/threads/grand-capital-fraud.52591/
https://www.forexpeacearmy.com/forex-reviews/8304/www.grandcapital.net
https://binaryscamadvisor.net/grand-capital-review/

They have been found to be providing FAKE signals and manipulation of their data feeds.







Here is the link to the above stats page.
https://www.myfxbook.com/members/Sonetnik3618868/lamm-576598-grandcapital-blu/2330877


Here is the link to the above discussion page.
https://www.myfxbook.com/community/trading-systems/lamm-576598-grandcapital-blu/1574589,1

Attachments:

If it looks too good to be true, it's probably a scam! Let the buyer beware.
Professional4X

Member Since Jan 05, 2016  1189 posts Professional4X Aug 24 2018 at 20:31
Also, when you try and discuss their 'system' or question them, they will immediately block you.

For example:

As you can see, this scammer is using GrandCapital.




When I pointed out that the broker they were using was fraudulent, this is their response.




And then immediately blocked me from discussing the matter further with them.





Attachments:

If it looks too good to be true, it's probably a scam! Let the buyer beware.
Professional4X

Member Since Jan 05, 2016  1189 posts Professional4X Aug 24 2018 at 20:38
This is a common tactic with scammers.
If you ask questions, or question them, they will often immediately block you from discussing the facts.

Here is the link to the above discussion pages.

https://www.myfxbook.com/community/trading-systems/lamm-576598-grandcapital-blu/1574589,1
https://www.myfxbook.com/community/trading-systems/lamm-576598-grandcapital-blu/1574589,2

And here is the link to the stats page.

https://www.myfxbook.com/members/Sonetnik3618868/lamm-576598-grandcapital-blu/2330877

And here is the link to the user page.

https://www.myfxbook.com/members/Sonetnik3618868

As you can see, they use grandcapital for the majority of their accounts.




Attachments:

If it looks too good to be true, it's probably a scam! Let the buyer beware.
Professional4X

Member Since Jan 05, 2016  1189 posts Professional4X Aug 25 2018 at 04:53
Another thing about this particular scammer, is when someone notices they had a big loss, they try and blame it on the myfxbook stats system, and try to use the excuse that 'support' can't fix the problem.




Link to stats page:
https://www.myfxbook.com/members/Sonetnik3618868/lamm-576598-grandcapital-blu/2330877

Link to discussion page:
https://www.myfxbook.com/community/trading-systems/lamm-576598-grandcapital-blu/1574589,2
Attachments:

If it looks too good to be true, it's probably a scam! Let the buyer beware.
jamesgwyther

Member Since Aug 05, 2017  276 posts jamesgwyther Aug 25 2018 at 09:55
ANy of the 'managed accounts' or 'guaranteed' returns are scams

Professional4X

Member Since Jan 05, 2016  1189 posts Professional4X Aug 27 2018 at 17:00
Any company that offers a 'guaranteed' return on an investment, is not being honest with investors.
It simply is not possible to be 100% guaranteed to make money in the markets.

If it looks too good to be true, it's probably a scam! Let the buyer beware.
Professional4X

Member Since Jan 05, 2016  1189 posts Professional4X Aug 27 2018 at 17:13 (edited Aug 27 2018 at 17:19 )
And here again is another one....











Here is the link to the stats page.
https://www.myfxbook.com/members/avishek2881/ea-darklord/1440718

Here is the link to the discussion page.
https://www.myfxbook.com/community/trading-systems/ea-darklord/1071776,1




Please note that on the last graphic I mentioned 2016, that is a error on my part.
That date should actually say 2015. Sorry about that.

However it doesn't change the actual problem of the account being highly questionable.

ALWAYS do your due diligence before dealing with possible scammers.
Attachments:

If it looks too good to be true, it's probably a scam! Let the buyer beware.
jamesgwyther

Member Since Aug 05, 2017  276 posts jamesgwyther Aug 28 2018 at 08:47
Most of them start their posts with 'This is not a scam'

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