mkingbeats (By mkingbeats)
The user has deleted this system.
mkingbeats Discussion
Jun 07, 2010 at 12:07
701 Views
7 Replies
Member Since Sep 29, 2009
4 posts
Jul 22, 2010 at 00:09
I don't currently manage accounts but will in the future. My results are small because I really only look for long term trades that last 3 or more months. I do take smaller trades while looking for the big ones sometimes. I am working on launching a FX signal trading service based on my trading system. Keep in touch.
Member Since Aug 20, 2009
216 posts
Jul 22, 2010 at 20:30
(edited Jul 22, 2010 at 20:31)
Your account had impressive equity growth because you rode the huge swing down. This type of trading won't work in a counter trend which is why your eight open orders are showing large pip losses. The crash in the Euro was an historical event that won't repeat any time soon, as the market now enters a counter, Dow and Euro stabilizes , the previous trading method will likely not work. A rising tide lifts all boats, if one trades in the direction of the trend , equity will increase, but then comes the counter trend blowing the account. I also don't believe your account is fake, many of the other accounts showing 200%+ gain are fake.
Member Since Sep 29, 2009
4 posts
Jul 22, 2010 at 22:41
(edited Jul 22, 2010 at 22:45)
Stephanus, keep watching and see if I blow my account. This is just one of my accounts. Riding trends is not the extent of my trading ability but if your trading FX you better be able to spot a trend, if you can why not ride it? Anyway I'm not on this site to compete with anyone I just came across it and thought it was cool, so I gave it a try. My account definitely is not fake, I'm not trying to sell anything just trading my own money. One thing I have learned after trading for years is that everybody trades differently, what works for one won't work for another you just have to do what works for you after years of screen time. Also if you go back in time on your EurUsd Daily chart (the only one I trade with) you will see that this pair regularly trends in one direction for months, you should know that if you really have 5+ years of experience. Have a nice day.
P.S. You won't blow your account if you don't over leverage, I've learned that lesson years ago!
P.S. You won't blow your account if you don't over leverage, I've learned that lesson years ago!
Member Since Aug 20, 2009
216 posts
Jul 23, 2010 at 07:12
mkingbeats posted:Correct your account isn't fake because you shorted and just hanged in there for the ride. But accounts that make 10pip profits and post 400% are in 99% of cases fake due the market following a random walk. 99% of traders don't know what patterns to look for in a counter trend and will lose their equity over a six month period. I wish you best of luck in trading!
Stephanus, keep watching and see if I blow my account. This is just one of my accounts. Riding trends is not the extent of my trading ability but if your trading FX you better be able to spot a trend, if you can why not ride it? Anyway I'm not on this site to compete with anyone I just came across it and thought it was cool, so I gave it a try. My account definitely is not fake,
Member Since Sep 29, 2009
4 posts
Jul 23, 2010 at 19:21
After checking your background out a bit I see you have the credibility to question results on this site Stephanus, I made my account on this site awhile ago and never really thought about it any more until I started getting messages from people. But after you post the comment on my system I did go and take a closer look at some of the other systems people have post and now I see why your scrutinizing everybody, There definitely allot of clowns here trying to rip new traders off by playing off peoples desire to get rich quick without working. So that said I'm glad you are on here exposing frauds. I myself am a self taught trader that traded demo accounts for 4 years (with no mentor because I didn't have money for one, nor could I find one I could trust anyway!) before going live and have now been trading live for 2 years, I know trading is not easy, nor do I try to tell other people its going to be, when somebody ask about trading I tell them they need at least 2 years of studying and demo trading or they can forget about making money in FX, and then you will be lucky to break even after all that! By the way didn't mean to snap back at you, I just didn't know what was going on until I examined this site better but I wrote you back before I did that, so sorry about that. I should have known this site would be full of people scamming, MyFxBook needs to do something to stop the fakers! Don't look like you need any luck trading but good luck to you too.
Member Since Sep 12, 2009
313 posts
Jul 24, 2010 at 09:35
good effort mkingbeat ,I am also leaning fores for last 2 years
I used to do ok with swing trade but i the middle i have become greedy
I have fallen pray to one of managed account guys
who showed me cents account as dollars and i gave my dollars account in december last year
he has blown my fxdd and alapri accounts
I used to do ok with swing trade but i the middle i have become greedy
I have fallen pray to one of managed account guys
who showed me cents account as dollars and i gave my dollars account in december last year
he has blown my fxdd and alapri accounts
Member Since Aug 20, 2009
216 posts
Jul 26, 2010 at 10:28
(edited Jul 26, 2010 at 10:47)
kishorejoga posted:I posted about your type of situation elsewhere. A trader sets up hundreds of fake real accounts or even genuine real accounts seeding them with $100, but then only reports on that one out of 100 accounts that made money. Since he takes 30% cut of a winning account, he can't lose. Even https://www.barclayhedge.com is in on a similar scam where they list say 100 hedge funds, which is actually managed by the same individual. With cloud servers and the Internet one can generate profits by running many types of EA, out of 100 there will always be one fund making money. Thus investors run from winning fund to winning fund like a bunch of fools, not knowing it is the same individual behind all 100 companies.
good effort mkingbeat ,I am also leaning fores for last 2 years
I used to do ok with swing trade but i the middle i have become greedy
I have fallen pray to one of managed account guys
who showed me cents account as dollars and i gave my dollars account in december last year
he has blown my fxdd and alapri accounts
FXDD ran a trading contest a few weeks ago on myfxbook. Near the end somebody from nowhere made five winning trades in a row for 1000% profit, 'winning' the contest. This is so improbable that one can only assume a 007 Zombie got hold of Fxdd's servers and magically edited his account.
But I could be wrong, if this trader who 'won' the first prize is actually trading then post please. Same with FXCM , they have a King of the microlot contest every moth where you can win $40000 in first prize money. Not one of those 'winners' has ever posted anywhere on a forex forum, it is FXCM themselves generating fiction. One of these 'traders' are being interviewed by FXCM, they are in other words interviewing themselves.
AIG, GS, Lehman were all in on a scam where AIG wrote nake put options, with the top brass collecting their 'performance' bonuses. The US government in the end had to act as the futures exchange paying out GS. Lies, fraud, deceit and deception brought us to the brink of global war, because if the US implodes, China and Russia will implode. Our very lives were endangered by analysts and brokers gaming the system.
The only way anybody could make 1000% on Forex is if their buddy's in S&P tipped them of at 1.5 euro that Greece was toast, went short and stayed short all the way down to 1.18 Euro.
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