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23 - PF client FxPrimus (By Remus Miclea )

Gain : +14.57%
Drawdown 37.80%
Pips: 1227.2
Trades 683
Won:
Lost:
Type: Real
Leverage: 1:500
Trading: Manual

23 - PF client FxPrimus Discussion

Remus Miclea (NextLevelForex)
Jan 18 2013 at 16:41
262 posts
Once in a while I post comments about this (and other tracked systems) on my Facebook page:

https://www.facebook.com/NextLevelForex

He who thinks he can, and he who thinks he cannot, are both right. ~ Henry Ford
Dirk (Quick100)
Jan 18 2013 at 16:56
247 posts
hi,
over the time I traded a lot of promising systems but most of them earthed account...
we,,. since May last year I´m trading an client account with my system which earthed too using different settings.
So because my client had an higher balance for trading I adjusted settings a bit for this and voila, this account made it.
He is achieving between 5-10% p. month, just great.
So I did set it up at demo now for further tracking because I trade his account I have no investors password.
Anyway, worth to have a look.
I setup some accounts, one with $100 balance
https://www.myfxbook.com/members/Quick100/volks-fx/455766/ZkcHLMmDMMfDZHRx1ZHs
and one with 10k using news trading too,
https://www.myfxbook.com/members/Quick100/fx-10k/459901/YalVNLstqx96HEnmlt1K
 perhaps this is interesting or you

best regards
Dirk

Remus Miclea (NextLevelForex)
Jan 18 2013 at 17:16
262 posts
Thanks for sharing, but with the hugely disproportionate lot sizes I'm seeing in your account, that system is surely not for me:

01.18.2013 11:30 01.18.2013 11:33 GBPUSD Sell 5.09 1.59341 1.59186 1.59375 1.59341 3.4 142.23 3m 1.38%
01.18.2013 00:00 01.18.2013 04:36 NZDUSD Sell 0.10 - 0.83447 0.83597 0.83447 15.0 14.68 4h 36m 0.14%



He who thinks he can, and he who thinks he cannot, are both right. ~ Henry Ford
Dirk (Quick100)
Jan 18 2013 at 19:12
247 posts
this is news trading with 5% risk. Had 3 News Trades now, first ones I used 1 lot, last one I set risk to 5%
thats all
so as I said i have 2 systems running

Remus Miclea (NextLevelForex)
Mar 03 2013 at 07:01
262 posts
I have stopped taking trades from Pip-Factory. My subscription was terminated 4 weeks ago, and my request for reactivation was not taken care of in the meantime, despite the 'ASAP' reply from the support team. Considering also the other aspects of their new trading strategy, I decided it's time to put an end to it, so even if the subscription would have been activated by now, I would still not be taking their trades. See more details about it here: https://fb.me/BuT5kMYS

He who thinks he can, and he who thinks he cannot, are both right. ~ Henry Ford
Remus Miclea (NextLevelForex)
Apr 26 2013 at 14:17
262 posts
I finally decided to withdraw all money from this account, and close it. That’s because Pip-Factory was earning IB commission rebates, and now that I'm no longer a client, I don't intend to pay them any cent from my future trading activity.

By the way, the up-trending equity curve in the recent months in this account is very misleading. They were using an “average down forever” trading method, also known as “when the price is falling, keep buying, since eventually it has to come back up, right?” Obviously they were wrong, and eventually the reality caught up with them, as show in this post: https://fb.me/2z5vUDWar

He who thinks he can, and he who thinks he cannot, are both right. ~ Henry Ford
Remus Miclea (NextLevelForex)
Apr 26 2013 at 14:25
262 posts
To close the topic, I'm attaching the last picture I took of Pip-Factory's reference account.
On April 15th I removed their account from my watchlist.

Attachments:


He who thinks he can, and he who thinks he cannot, are both right. ~ Henry Ford
Ninja Trader (walnuttrader)
Apr 26 2013 at 17:48
7 posts
'Average down Forever' trading method is the famous martingale method which is highly dangerous even with high capital base. It should never be used as always have many small win then followed by one big wipe out.

Remus Miclea (NextLevelForex)
Apr 26 2013 at 17:57
262 posts
I knew that, but what I did not know was that Pip-Factory used it. When they changed the strategy late last year they said up to 12-15 positions opened, or something like that. So I adjusted my lot sizes for it, but then I caught them with more trades opened, and then again with more... When they said something like 'depending on market conditions, sometimes we need to fight harder', I knew that it can only end badly, so I dropped them from my list (ironically, it was them who cut the cord, by disabling my access, and so all I had to do was not renew).

He who thinks he can, and he who thinks he cannot, are both right. ~ Henry Ford
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