stevetrade posted: I beg to differ, Cast Iron Man version 3 currently stands at 92% after nine months of trading and I fit into neither of those criteria. I'm sure there are many other people on here who are trading genuinely and have successful strategies.
There is not a single EA out there that works, myfxbook.com has demonstrated this. Every single peddler of EA's has tried to hawk his goods here and all were caught out. Nobody should invest any money with somebody who trades via an EA, this is the first sign the PAMM manager doesn't know what he is doing. EA's are great for setting up 1000 fronting company PAMM systems, generating 500% on five of them , taking 30% commission , but the other 995 lose their money. The PAMM EA system developer can't lose because he will always have naive investors out there not comprehending what is really going on.
Stephanus, I'm monitoring what you've been writing in the last weeks. Sometimes you're right, sometimes you're wrong. You're trying to judge everything and everybody not knowing the full facts and details. I agree that maybe 98% of the super muper results here are just a SCAM product or hidden broker advertisement BUT NOT EVERYTHING. Forex is huge market with huge daily turnover ==> huge profits and huge losses. It's completely normal that clever or not so clever guys or companies will try to get some profits taking advantage of the stupid and naive people. But considering that there aren't profitable EAs is very naive and superficial. I'm creating and studying EAs for more than 5 years and my conclusion is that 99% of the commercial and free EAs are not profitable. But there are few EAs(max 5 according to me) free and commercial EAs that are worth to try. Some of them are very successful but very expensive and you need large capital to cover the EA cost by the profit made. Free EAs are not so profitable but still on the positive. The fact that you have prejudices about EAs or you havent's found/created a decent one doesn't make all EAs stupid and non profitable.
Another trader touting his wares is Timmothy Sikes. He specializes in shorting penny stocks. Since penny stocks can have significant movement on high volume trades, due to low market cap, it is possible for Sikes to engage in frontrunning his toutes. He first shorts and then afterward tells his subscribers to short , covering his own short when the equity tanks. This is why he never posts all his separate 100 brokerage accounts because it will show how his biggest asset is the clients driving down the penny stocks after he shorted. He also to ruined a hedge fund he managed. His tricks won't work on Forex, only Moodies can game the forex market once every 10 years by giving a tip-off to their buddies that come Monday the Euro and Greece is toast.
rofl i watch this funny methods of trades and hopes and can't stop laughting at people who belive they will find the best ea.. and sleep all day and night and computer will make money for them .. wahahah
'Tradebot uses computer algorithms to provide liquidity to the stock market. Dave started Tradebot in 1999 out of a spare bedroom with a $10,000 investment. Some days Tradebot accounts for over 10% of the total U.S. stock market volume. '
Might wanna read up a bit on automated trading before you laugh to hard....
I hope you made it pro trader. This is the weakest point of martingale when it run. From friend it become worst enemy. I think the best thing to do is let it go and take the loss when you are at XX% DD Then find the trend again. you still up $200 probably best to just walk away with it.
stephanusR posted: Fascinating how myfxbook.com basically shows that virtually nobody makes money in forex over the long run.
If 2.6 years is 'long run' then I am at least making (good) money. Please check the total pips on all of my accounts. I started these accounts 1/1/2008 and I am at the moment up almost 900% (my normal drawdown is about 30% although there was one much bigger dd 1.5 years ago because of my mistake, but still I made that year more than 100% total, so If DD figure is calculated on a yearly basis then my DD has been all the time less than 33% yearly). Not sure if you can see my capital there, but I started with 320 euros and am now up more than 2500 euros). My current results are much better because I improved very much my whole system basket last christmas. So since last christmas the DD has been lower than expected and very good profits total.
I am about 99.99% sure that these 5 systems I run are gonna be in profits in next 12 months from this day. I am ready to even bet about that, heh :) (well, I dont actually do betting ...but anyway..).
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