Project 500 pips a month
The user has made his system private.
Project 500 pips a month diskuse
Členem od May 04, 2013
20 příspěvků
Jun 20, 2013 at 09:27
yousefnasr posted:
Margen call
I'll see you at the pearly gates shortly.
Členem od Sep 23, 2012
13 příspěvků
Jun 20, 2013 at 10:03
yousefnasr posted:Hello ,,
Margen call
not only you , but any way
* the mistake is that we don't put the stop lose which keep our accounts from margin not the stop lose which he put (around 5000 Pips )
* the mistake that till now Myfxbook didn't tell us why his results didn't update and keep that chart to increase the followers
Členem od Feb 20, 2012
11 příspěvků
Jun 20, 2013 at 10:04
Margin calls are not nice as it puts you between a rock and a hard place.
Resistance seems to have been broken and we should be hitting our stoplosses soon.
This system has a number of problems over the longer term.
1. This is essentially a trend following system with a reversal strategy.
Nothing wrong with the reversal strategy, however with a trend change,
the strategy seems to fail because of the stoploss strategy noted below.
2. It uses MASSIVE stoplosses hoping the trend will reverse into it's favour.
This causes MASSIVE equity draw-downs which will sometimes work, other times not.
3. It continues to open reversal trades which if it works, increases profits,
however in the current scenario, it multiplies losses exponentially.
Currently on the GBPAUD we have a collective stoploss of 6285 pips over 5 trades.
(1529.9 pips + 1439.2 pips + 1259.9 pips + 1134.1 pips + 922.1 pips)
On the EURAUD we have a collective stoploss of 2904 pips over 3 trades.
On the AUDNZD we have a collective stoploss of 1564 pips over 4 trades.
This is a total of 10754 pips over 3 currency pairs over 12 trades.
All our trades seem to be on the wrong side of the trend now so we must prepare ourselves for massive losses.
If we hit our stoplosses, the chances of recovery in this account will probably take a very long time.
My concern going forward with this system is the non-disclosure from the provider
1. Open trades from the provider is not visible (this is his choice but not good for me)
2. No updates on this provider's myFXbook page for some time now so the graph does not reflect the current position.
The graph still looks good but in reality, the MASSIVE drawdown should also be visible.
3. My account also has 2 losing trades of 525 pips not visible in the provider's myFXbook page.
This will be my reasons for withdrawing from this system
if the non-disclosure items are not addressed by the provide in due courser.
Let's see what happens with our trades in the next few days and if these losses eventually reflect on this provider's myFXbook page.
Resistance seems to have been broken and we should be hitting our stoplosses soon.
This system has a number of problems over the longer term.
1. This is essentially a trend following system with a reversal strategy.
Nothing wrong with the reversal strategy, however with a trend change,
the strategy seems to fail because of the stoploss strategy noted below.
2. It uses MASSIVE stoplosses hoping the trend will reverse into it's favour.
This causes MASSIVE equity draw-downs which will sometimes work, other times not.
3. It continues to open reversal trades which if it works, increases profits,
however in the current scenario, it multiplies losses exponentially.
Currently on the GBPAUD we have a collective stoploss of 6285 pips over 5 trades.
(1529.9 pips + 1439.2 pips + 1259.9 pips + 1134.1 pips + 922.1 pips)
On the EURAUD we have a collective stoploss of 2904 pips over 3 trades.
On the AUDNZD we have a collective stoploss of 1564 pips over 4 trades.
This is a total of 10754 pips over 3 currency pairs over 12 trades.
All our trades seem to be on the wrong side of the trend now so we must prepare ourselves for massive losses.
If we hit our stoplosses, the chances of recovery in this account will probably take a very long time.
My concern going forward with this system is the non-disclosure from the provider
1. Open trades from the provider is not visible (this is his choice but not good for me)
2. No updates on this provider's myFXbook page for some time now so the graph does not reflect the current position.
The graph still looks good but in reality, the MASSIVE drawdown should also be visible.
3. My account also has 2 losing trades of 525 pips not visible in the provider's myFXbook page.
This will be my reasons for withdrawing from this system
if the non-disclosure items are not addressed by the provide in due courser.
Let's see what happens with our trades in the next few days and if these losses eventually reflect on this provider's myFXbook page.
Členem od Oct 15, 2012
5 příspěvků
Jun 20, 2013 at 10:04
Margin CALL!!
Členem od Oct 15, 2012
5 příspěvků
Jun 20, 2013 at 10:06
Why June is hidden?
Členem od Jul 31, 2009
1444 příspěvků
Jun 20, 2013 at 10:08
atolia posted:
Why June is hidden?
Charts and metrics are affected only when trades are closed. Until then, you will see the change in equity on the left of the chart (in %).
Členem od Sep 23, 2012
13 příspěvků
Jun 20, 2013 at 11:10
Staff posted:atolia posted:
Why June is hidden?
Charts and metrics are affected only when trades are closed. Until then, you will see the change in equity on the left of the chart (in %).
Sorry but that isn't right this positions close but didn't listed
22.05.2013 10:59 29.05.2013 05:57 EURAUD Sell 0.01 1.34820 -226.00 1.28800 376.00 1.3256 1.3482 -226.00 -21.54 6d -1.05%
17.05.2013 06:06 29.05.2013 05:57 EURAUD Sell 0.01 1.34820 -299.20 1.28800 302.80 1.3183 1.3482 -299.20 -28.52 11d -1.37%
Členem od Sep 23, 2012
13 příspěvků
Jun 20, 2013 at 11:10
congratulations
Project 500 escape from AutoTrade system
Project 500 escape from AutoTrade system
Členem od Mar 31, 2012
41 příspěvků
Jun 20, 2013 at 11:10
Hello guys,
Just got a new today from Ethan and come here to post.
Since dealing with FXCM to let users pay signal provider by performance fee here on myfxbook would take more time than expected hence myfxpedia could only accept client thru our website. We hope to resume Auto Copy when myfxbook got a deal with FXCM.
Check our plan and pricing https://myfxpedia.com/home/planandpricing/
FAQs https://www.myfxpedia.com/support/kb/index.php
For those who want to follow our project please save our account(s) in watch list and contact our Live Help should you need assist.
Exclusive deal for myfxbook's members coming soon
Best regards
Customer Services
Just got a new today from Ethan and come here to post.
Since dealing with FXCM to let users pay signal provider by performance fee here on myfxbook would take more time than expected hence myfxpedia could only accept client thru our website. We hope to resume Auto Copy when myfxbook got a deal with FXCM.
Check our plan and pricing https://myfxpedia.com/home/planandpricing/
FAQs https://www.myfxpedia.com/support/kb/index.php
For those who want to follow our project please save our account(s) in watch list and contact our Live Help should you need assist.
Exclusive deal for myfxbook's members coming soon
Best regards
Customer Services
Členem od Jul 31, 2009
1444 příspěvků
Jun 20, 2013 at 11:11
TOPFOREXSIGNALS posted:Staff posted:atolia posted:
Why June is hidden?
Charts and metrics are affected only when trades are closed. Until then, you will see the change in equity on the left of the chart (in %).
Sorry but that isn't right this positions close but didn't listed
22.05.2013 10:59 29.05.2013 05:57 EURAUD Sell 0.01 1.34820 -226.00 1.28800 376.00 1.3256 1.3482 -226.00 -21.54 6d -1.05%
17.05.2013 06:06 29.05.2013 05:57 EURAUD Sell 0.01 1.34820 -299.20 1.28800 302.80 1.3183 1.3482 -299.20 -28.52 11d -1.37%
Your trades might have been closed by a margin call. Since the provider didn't get a margin call yet, the trades weren't closed hence why you don't see it in the metrics.
Členem od Aug 21, 2012
47 příspěvků
Jun 21, 2013 at 16:05
TOPFOREXSIGNALS posted:
congratulations
Project 500 escape from AutoTrade system
While Project 500 Pips a Month is no longer available for AutoTrade, I'm still subscribed to it and trading it here. It seems that in the past when one of the trading systems I'm following has been pulled from AutoTrade, I've been disconnected from it and have been told to cancel my trades manually. In this case though, I'm still subscribed in my demo account.
Since it's a demo account, I figured I'd leave things open just to see how they play out in the end, and since I was only subsribed at a 0.2 multipler we're talking a very small amount of pretend money anyway. I'll be interested to see how the Myfxbook staff decide to take this trading system offline for everyone, and when.
Členem od Feb 20, 2012
11 příspěvků
Jun 22, 2013 at 08:30
Finally, out complaints about non-disclosure from the provider has been heard.
The graph is reflecting some serious drawdown.
You can run but you can't hide.
Well, my account is live so losses are in real dollars.
I have paused the system so the open trades will go where they go.
The money has been lost already and nothing I can do about it.
My consolation is that it is better that the system has been taken away to protect future traders.
The graph is reflecting some serious drawdown.
You can run but you can't hide.
beren posted:
I'll be interested to see how the Myfxbook staff decide to take this trading system offline for everyone, and when.
Well, my account is live so losses are in real dollars.
I have paused the system so the open trades will go where they go.
The money has been lost already and nothing I can do about it.
My consolation is that it is better that the system has been taken away to protect future traders.
Členem od Mar 31, 2012
41 příspěvků
Aug 09, 2013 at 00:28
Hello Guys,
Here is some update regarding our project 500 pips a month:
- We start July 2012
- We archive 54% gain on May 2013
- Since May 2013 we falling into our own trap that even we predict AUD will fall, we still go in and long it for short term. Unfortunately by just a mistake we could not get out the trade when it were in profit and let it run negative till July 2013. On Aug 2013 we decided to let all SL hit and come back where we start, we lose all profit we have made for the year and even negative for 6%. You can read about it in our review during that period in May.
- We know where the problem came from, we already enhanced the system and put in 2nd barrier for hard SL at 30%
- We raise the balance requirement from $2,500 to $5,000
- We will not guarantee anything from now on, forex is high risk investment and not suitable for all, what we can do is - we trade by our live money, our fund is large enough and that is our only guarantee. If we are wrong, we will lose our money first. So all investors are required to be mature and understand clearly before joining project.
- There would be also no refund , what we could do is can extend you for an additional package in case you join in a month that we got rainy days .
- We do not provide our service anywhere else except here in our website, ( that included Auto Copy in myfxbook) if you follow us by any other method, 3rd party website, we do not have any responsibly for the different.
- We start apply this ASAP however if there were by a mistake that old information still there in our forum / website, please refer to this Announcement.
Sincerely
Admin team
We - myfxpedia - we look forward and we know what we are doing, we understand the risk of forex market and we knew what were the mistake, we will not let it happen again.
Please understand even I read all the comments since June ( when the project got the first slow month ) however I dont want to protect myself, it does not mean that all the comments are 100% correct. If you are looking for perfect guy, we are sorry, that would be too hard mission for us.
Here is some update regarding our project 500 pips a month:
- We start July 2012
- We archive 54% gain on May 2013
- Since May 2013 we falling into our own trap that even we predict AUD will fall, we still go in and long it for short term. Unfortunately by just a mistake we could not get out the trade when it were in profit and let it run negative till July 2013. On Aug 2013 we decided to let all SL hit and come back where we start, we lose all profit we have made for the year and even negative for 6%. You can read about it in our review during that period in May.
- We know where the problem came from, we already enhanced the system and put in 2nd barrier for hard SL at 30%
- We raise the balance requirement from $2,500 to $5,000
- We will not guarantee anything from now on, forex is high risk investment and not suitable for all, what we can do is - we trade by our live money, our fund is large enough and that is our only guarantee. If we are wrong, we will lose our money first. So all investors are required to be mature and understand clearly before joining project.
- There would be also no refund , what we could do is can extend you for an additional package in case you join in a month that we got rainy days .
- We do not provide our service anywhere else except here in our website, ( that included Auto Copy in myfxbook) if you follow us by any other method, 3rd party website, we do not have any responsibly for the different.
- We start apply this ASAP however if there were by a mistake that old information still there in our forum / website, please refer to this Announcement.
Sincerely
Admin team
We - myfxpedia - we look forward and we know what we are doing, we understand the risk of forex market and we knew what were the mistake, we will not let it happen again.
Please understand even I read all the comments since June ( when the project got the first slow month ) however I dont want to protect myself, it does not mean that all the comments are 100% correct. If you are looking for perfect guy, we are sorry, that would be too hard mission for us.
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