It will give an idea what's gonna happen to your account. Deposit/Withdrawal: 20 000.00 Closed Trade P/L: 3 451.51 Floating P/L: -10 980.44 Balance: 23 451.51 Equity: 12 471.07
Also some interesting things from that thread:
marcelcorzo1 posted: Hello, everybody. I’m offering managed accounts. Here is the deal: 1. And the most important: Risk only what you can afford to lose. I don’t respond for partial or total losses on your account. If you don’t have much confidence, start little.
So you actually expect that your managed account could get blown. And from the attachment WE COULD SEE THAT YOU'RE CAPABLE OF GETTING INTO ~50% FLOATING DD IN JUST FEW DAYS.
marcelcorzo1 posted: I have never blown an account. I had large drawdowns, but I always protect 50% of any account. That's a rule to manage an account. I'm don't going to lose my precious time with a loser. Sorry.
And when you say I'm a loser please prove it. Did you see some huge DD or huge losses on my accounts?
Some was asking if I still manage accounts last month, so I replied:
'hello, do you still succesfully manage accounts ? could u send me some more stats ? I still manage accounts, but I'm not posting stats until I finish to test many changes in my strategy. I had in february and may some drawdowns due to unexpected movements (+1.000 pips in a few days) in EURJPY, and I had to make those changes. Fortunately, I didn't lost any account. Now the risk is lower, and of course the profits are lower too. The floating P/L is lower too, I'm trying to let it below 15%. Most of my actual managed accounts have the floating P/L around 5%. You can check it here: https://www.myfxbook.com/members/marcelcorzo1.'
Even because those drawdowns I lost some clients, none of them has stated in any forum that I blowed his account entirely. Evenmore, I offered to them to recover those accounts.
Mr Corzo is hiding or deleting all the accounts that were blown or in HUGE DRAW DOWNS, he's just showing the good looking ones.
Unexpected moves of +1000 pips in a few days are allways unexpected. You won't hear it on the news: TRADERS BEWARE, IN THE NEXT FEW DAYS EUR/JPY WILL HAVE UNEXPECTED MOVEMENTS OF 1000+ PIPS IN THE WRONG DIRECTION. ALL PROFFESSIONAL TRADERS ARE PREPARED FOR SUCH UNEXPECTED MOVEMENTS.
I don't care what you write about me or my systems, I'm not here to advertise or sell my systems or services. And forexma comes from forex maniac. Your strategy is dangerous and you're doing exactly what I hate most: you trade other's money with crazy grid strategy knowing that blowing an account is everyday's option but you care only about your 50% profit share. Yes with that system an account could survive for months and the longer it takes you gather more 50% commissions and what happens at the end is you saying: I'm sorry, remember rule nuber 1: And the most important: Risk only what you can afford to lose. I don’t respond for partial or total losses on your account. If you don’t have much confidence, start little.
Steve has explained well what I mean, he was talking about martingale but your strategy is no better than martingale because it's equally dangerous:
stevetrade posted: Okay, lets just examine the way that a martingale managed account works.
So, say the client invests $10,000
And you can generate a 100 % return per month
And you are taking a 50% cut of those returns.
So, in the first month. The account is now worth $20,000.
You take $5,000. Thank you very much!
The client has $15,000 in his account.
So the next month your 100% profit generates the client $15,000.
Account is now $30,000
You take 50%, $7500. Thank you very much!
The client now has $22,500 - He's getting excited at this stage. He thinks about maybe withdrawing some money but greed gets the better of him. So he doesn't, as you've told him this can go on forever.
So, the next month you make 100%.
Account is now at $45,000
You take 50%, $11,250 . Thank you very much! You have now banked $23,500. A nice sum for doing practically nothing other than exploiting people who don't realise that one day....
Blam! Black swan event. Account gets a margin call. Investor loses all his money but it's okay because you banked $23,500 from your client.
Martingales are about one of the most despicable ways to manage an account, you're up there along with Bernie Madoff in my opinion. They take practically no skill and no trading experience to run. I could set one up now today in about thirty minutes and be showing this kind of account performance myself very easily in a few months.
Take it easy SOLAR, Investors are asking all the right questions before they invest... I think the days of them falling for the grids and martins are over. These free auditing websites have them talking like pros :) If they do not disclose everything in public it just raises red flags and the investor will want those questions answered before they commit any funds. They want to thoroughly know the risks before they jump has been my experience.
I was reading the system page and I didn't realize it was an older account of ours, then I clicked out your profile to see that your past system was deleted. It doesn't bother me a one bit. I've seen you burn through many accounts on Myfxbook and I've seen your posts promoting your managed accounts on Currensee.com a long time ago. Enjoy
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Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance.
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