You must be another one from Forex21’s gang. Welcome and I won’t ban you like Forex21 did to me.😉
That is only one of the SFE EAs trading over a limited period. The SFE EAs trade long term strategies and it’s not unusual to have several months of stagnation on a single strategy. By running multiple SFE strategies the stagnation can be significantly reduced, which is what we have done with our signals.
SFETrading posted: Welcome and I won’t ban you like Forex21 did to me.😉
1) You posted a screenshot from somebodies account and made it look like that the account belongs to me. That's why I banned you. 2) Consistently negative results for 3 years and a few months stagnation are two different things. 3) Wolfgang is a client of mine, a skilled trader and decent human being. There is a lot you can learn from him.
Well I just pointed out what I felt looked a bit dodgy. You are welcome to have your own theory and people can decide for themselves if your explanation makes sense or not.
I didn’t ban you or other people who questioned my system and I took time to explain how I traded my personal accounts, which made over $330K in 4 years. Similarly, people can decide for themselves whether they believe it or not.
Good luck to your trading and I don’t have any ill feelings towards you. However I think it would be much more convincing if you can use a real account rather than demo for your “ProFx 7 - Day Trade“ account. 😄
Well if you can’t tolerate having no profit for 6 months then you certainly don’t have a long term view about trading, so our system is clearly not for you. You can come back in another 6 months and see where the account is sitting at. 😄
It is true that the market has been unfavourable for momentum based EAs for the last 2-3 years, but their time will come. We just need to be patient and wait for the market to become favourable again.
As I said, we focus on long term growth and the results may take a few years to become apparent. If people are not ready to invest for the long term then they should not use our system, and they are welcome to find other systems instead. But from what I’ve seen over the years, it is very rare for most systems to even survive more than 2-3 years. 😄
If people sign up under our IB they can get discounted commission of $5.50 per round lot traded, IC Markets keeps $5 of that and we only get $0.50 for every lot traded on the accounts under our IB.
But while we recommended people to use IC Markets, it is not compulsory for them to join under our IB - so we won't even get any share of the commission if they choose to join under other IBs.
Also the amount of lots displayed on Myfxbook is not accurate, because it also counts the lots traded on Stock CFDs.
So if you go by the commission charged, then the account has traded $1323.94 / $5.50 = 240.72 lots on Forex pair during the period you analysed.
Then, if the accounts are all under our IB then we would have only earned 240.72 x $0.50 = $120.36 in commission over the 2-month period you analysed. I don't think earning $60 in commission per month is anything to write home about....
As I already said, the number of lots traded displayed on Myfxbook is not an accurate measure, because they treat 1000 shares on Stock CFDs as 1000 lots. You will need to filter out only the Forex pairs to see the exact lots traded on Forex pairs.
For example, in the screenshot below, the BA.NYS trade was closed at break-even at 0 pip, and the commission was only -$4.74 for a 65 'lot' trade - which is clearly not the same as 65 lots in a Forex trade.
The amount of commission we receive is only about $0.50/$5.50 = 1/11 of the total commission displayed on the accounts. So take the High Risk account for example, currently the total commission paid is $9451.30, so our share of commission is only around $9451.30 / 11 = $859.21 over the past 6 months...and that's on an account that is $100K in size. The account easily has gains / losses more than that on a daily basis.
So I hope you can see by now that earning commission will never be the main source of income for us. Our goal is to trade profitably in the long term and earn the performance fee that we deserve. 😄
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors.
Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance.
You could lose some or all of your initial investment. Do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions.
Any data and information is provided 'as is' solely for informational purposes, and is not intended for trading purposes or advice.
Past performance is not indicative of future results.