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Sector Capital 1 - PriorFX (de BP33 )

Lutilisateur a supprimé ce système.

Discussion Sector Capital 1 - PriorFX

leo23
Oct 23 2016 at 11:37
posts 631
There is no need to run from one broker to another broker chasing for 5% a month with 45% equity protection. It is absolute non sense.

If investors are seriously looking for 5% a month, then exactly same results can be achieved with 5% monthly return guaranteed every month with maximum 10% equity protection and we can do that. But it needs 20K or 30K minimum starting balance.That's all.
Artificial General Intelligence
FTDFX (eruditeX)
Oct 24 2016 at 03:31
posts 52
fxtrader555 posted:
BP33 posted:

1) *Access to the market was denied*, this the ONLY reason there was a stop-out in the first place.

not true. you exposed the account way too big to GBP. Have you seen the long long list of open trades ? Besides buying GBP after brexit is plain stupid.


BP33 posted:
One small piece of new information, I'm taking a break. When I resume it certainly won't be with PriorFX.

where did we hear that before ? was it when you fled from HF ?

i studied how the EA trades, it avg after about 42 or smth bars, then uses some kind of position sizing grid.

overall, i must say that system was good for a few years.

But since last year, we saw CHF movements 20% non-leveraged, and it happened again for GBP this year twice!

Any system will bound to fail.

Imagine this, non-leverage can be 10-20%, what about leveraged? if using 1k account, trade 5k units already margin called.

That's why overnight and weekend positions are prone to such gap and risk.

stop loss is not even guaranteed for weekend trades or high impact news
plop1234
Oct 24 2016 at 07:06
posts 8
If the system runs so well, send it to [email protected], we run several algos and are always interested....
arielkorber
Oct 24 2016 at 07:20
posts 27
Personal observation:


On 2 occasions: Severe drawdown due to grid trading----> Trades close in loss.
 


Trader has 2 options;

1.Spend the next few months recovering profit...... but would do so at no personal gain (high watermark rule)

2. Change broker....and start profiting immediately as high watermark rule no longer applies

In each case trader blames the broker, chooses option 2, and the sheep follow him to a new broker and continue to pay his commission, despite loss.




Sorry for the cynicism, its my impression
wmsgfred
Oct 24 2016 at 07:21
posts 22
leo23, can you confirmed that you can give 5% mthly return Guaranteed. Also max equity protection at 10% Guaranteed as well.
As far as i know fx has no guarantee, this is a Ponzi ?
plop1234
Oct 24 2016 at 09:13
posts 8
leo23
Oct 24 2016 at 09:13
posts 631
wmsgfred posted:
leo23, can you confirmed that you can give 5% mthly return Guaranteed. Also max equity protection at 10% Guaranteed as well.
As far as i know fx has no guarantee, this is a Ponzi ?
Yes, I 99% guarantee that we can achieve 5% monthly with a maximum 10% equity protection. But it is not a 100% guaranty every month, because it again depends on spread of the broker where you use the system and hence, it may vary between 4% to 6% per month which was there in this system. But we will use 10% protection to achieve similar results.

If you use a broker with good spread, then it can be up to 6% or 8% even with 10% equity protection. But with broker with bad execution and high spread, it can be 4% or more per month.

Regarding the flash crash events, neither me nor any bank will guarantee regarding this. Hence, I don't guarantee on monthly profits for that particular month if flash crash will occur. But as we mentioned earlier in the post we can use FIX API with our system and can even switch to a direct bank feed instead of a broker connection if really large investors are interested to achieve 5% monthly with 10% protection.

So if flash crash will happen, then investors should not panic as how to cover the loss of equity protection because within next 2 months you can cover the entire loss amount if you use 10% protection with 5% monthly target.

But for 5% monthly and 45% protection, you have to wait for approximately 8 months to cover the loss. Hence, investors should carefully consider this.

Artificial General Intelligence
fx4btc
Oct 24 2016 at 09:13
posts 97
What a joke. does BB33 know absolutely nothing about liquidity? It's not PriorFX fault. Please wake up people and look at the real scenario here. If you don't understand liquidity and the risks for trying to close positions during an illiquid moment you don't belong in Leveraged investments. I documented the GBP flash crash on my blog and it doesn't matter what RETAIL FX brokerage you use. Every single brokerage faced the same issue. It's called lack of liquidity because the market makers turned off their algos. You can not close your orders at a 45% cut off point when there is not a counter party to take your trade.

Stoplosses that are sent to your broker does not fix the issue during these events. The stoploss price is a request to fill an order and is subject to slippage based on the available price given to you by the liquidity provider.

The fact that BB33 wants to move to another broker is outrageous to me and @arielkorber is absolutely correct in option 2.

FTDFX (eruditeX)
Oct 24 2016 at 09:55
posts 52
fx4btc posted:
What a joke. does BB33 know absolutely nothing about liquidity? It's not PriorFX fault. Please wake up people and look at the real scenario here. If you don't understand liquidity and the risks for trying to close positions during an illiquid moment you don't belong in Leveraged investments. I documented the GBP flash crash on my blog and it doesn't matter what RETAIL FX brokerage you use. Every single brokerage faced the same issue. It's called lack of liquidity because the market makers turned off their algos. You can not close your orders at a 45% cut off point when there is not a counter party to take your trade.

Stoplosses that are sent to your broker does not fix the issue during these events. The stoploss price is a request to fill an order and is subject to slippage based on the available price given to you by the liquidity provider.

The fact that BB33 wants to move to another broker is outrageous to me and @arielkorber is absolutely correct in option 2.


Thumbs up, right on point lol.

Really for retail traders, the way we trade, the money we have is likely 95% will lose money. If they really want to avoid all these, then go for vanilla options trading, pay a small premium and that's the maximum loss. Else, any provider including bank cannot give you the quote in this market when flash crash. They all subject to live price and feeds from the open market. So any live position is at risk every second.
johndoe2016
Oct 25 2016 at 06:19
posts 58
eruditeX posted:
fx4btc posted:
What a joke. does BB33 know absolutely nothing about liquidity? It's not PriorFX fault. Please wake up people and look at the real scenario here. If you don't understand liquidity and the risks for trying to close positions during an illiquid moment you don't belong in Leveraged investments. I documented the GBP flash crash on my blog and it doesn't matter what RETAIL FX brokerage you use. Every single brokerage faced the same issue. It's called lack of liquidity because the market makers turned off their algos. You can not close your orders at a 45% cut off point when there is not a counter party to take your trade.

Stoplosses that are sent to your broker does not fix the issue during these events. The stoploss price is a request to fill an order and is subject to slippage based on the available price given to you by the liquidity provider.

The fact that BB33 wants to move to another broker is outrageous to me and @arielkorber is absolutely correct in option 2.


Thumbs up, right on point lol.

Really for retail traders, the way we trade, the money we have is likely 95% will lose money. If they really want to avoid all these, then go for vanilla options trading, pay a small premium and that's the maximum loss. Else, any provider including bank cannot give you the quote in this market when flash crash. They all subject to live price and feeds from the open market. So any live position is at risk every second.

And which fx vanilla options strategy can generate 5% monthly?

I looked at naked put selling and my calculations showed the same profit as stock options 10-15, max 20% per year.

Maybe there is another way using fx vanilla options to generate more profit?
Franck44
Oct 26 2016 at 06:52
posts 21
Hey BP33

Why did you deleted your account ?
What must we do with our Prior fx investor account ?
How can we do to follow you and when will you start a new account ?

THANKS FOR YOUR ANSWER

Best regards.
macorrales
Oct 26 2016 at 08:59
posts 9
Yesterday I received an email from PRIORFX, which reads as follows: 'You can opt to join PriorFX Recovery Trading System Which we believe is less risky and Generates profits to cover your losses and restore your balance up to 45% loss level without charging any performance and / or success fee. Should you need more details Please feel free to contact us for more information on This system. '
Guys, what is this? You received also you?
Someone can explain?
Christina (clte)
Oct 26 2016 at 09:01
posts 17
@BP33
The fact that you have deleted your account has made me lose trust in you. I deplore the fact that MyFXBook allows people who have lost millions of dollars on their investors behalf to just erase their ugly past with the click of a mouse. I feel that your duty BP33 would be to remain in the seat and trade your way back out of the issue, accepting that you will not receive any successfees until the job is done. Instead, you chose to run away to another provider, and erase all trace of the past, and enjoy new successfees, leaving past investors in the dust.

In all your communication so far you have been pedantic and condescending, and now you chose to be silent and just run. I hope that anyone who ever considers you as a potential fund manager in the future reads my post and takes it as a warning.

WARNING TO ALL: BP33 has a good algo that tends to function well, particularly because balance and equity usually follow each other closely. But BEWARE: it occasionally has significant drops of equity which blocks fast response in the case of a crash. BP33 tends to ignore large market issues such as the recent Brexit and blindly trusts his algo. And once problems arise, BP33 refuses to take responsibility and just runs. If you choose to invest in PB33's algo, then make sure that you limit the total amount that you risk AND that you take our your winnings on a monthly basis. This way, if the algo crashes, you will hopefully have been taking money out long enough to not suffer a (significant) loss.
It's never too late
arielkorber
Oct 26 2016 at 11:55
posts 27
BP33 posted:
Hi All,

2) It appears PriorFX did not stop out investors correctly at 45%.
    If you are one of those investors affected you should have already made a complaint to the regulator.



This is the most concerning comment from BP33.

 It demonstrates a complete ignorance of market structure, no knowledge of liquidity, and no understanding of what a flash crash involves.

 To put it simply, THERE WERE NO BUYERS AT OUR 45% STOP-LOSS LEVEL. Sell orders were being triggered as the market plunged and these were not being filled, driving prices lower. We needed buyers to get out of our position.

 If you dont understand that you dont understand markets and should not be trading other people's money.
kamjo
Oct 26 2016 at 12:10
posts 12
macorrales posted:
Yesterday I received an email from PRIORFX, which reads as follows: 'You can opt to join PriorFX Recovery Trading System Which we believe is less risky and Generates profits to cover your losses and restore your balance up to 45% loss level without charging any performance and / or success fee. Should you need more details Please feel free to contact us for more information on This system. '
Guys, what is this? You received also you?
Someone can explain?

Hi

I got this message too. Do not know if I want to risk more money in other people hands. What about you @macorrales or others who have got this message?
AlexKarva (AlexKarva56)
Oct 26 2016 at 14:26
posts 2
Dear all
Rescue level is like a Stop loss it means No guaranteed when we got like flash crash or gap down or big volatile such as chf crash.
I don't know about PriorFX more then BP33 but i can tell you in this case, does not matter which one your broker because anyone not helping us on this matter.
'The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose'

There some other algo systems still continue with Sector Capital, you can recover your loss within few months but do not forget about above paragraph about risk.
https://www.pamm4profit.com/pamm-accounts
johndoe2016
Oct 26 2016 at 14:42
posts 58
kamjo posted:
macorrales posted:
Yesterday I received an email from PRIORFX, which reads as follows: 'You can opt to join PriorFX Recovery Trading System Which we believe is less risky and Generates profits to cover your losses and restore your balance up to 45% loss level without charging any performance and / or success fee. Should you need more details Please feel free to contact us for more information on This system. '
Guys, what is this? You received also you?
Someone can explain?

Hi

I got this message too. Do not know if I want to risk more money in other people hands. What about you @macorrales or others who have got this message?

I have only lost so far on using managed accounts. I now run my own EAs and I can close positions when I want to, not when other think so.
Igor Furlan (ISFurlan)
Oct 27 2016 at 09:24
posts 46
@BP33 for the next broker, I would recommend you a FCA or ASIC regulated broker that allows managed accounts (some suggestions: ActivTrades, IC Markets, Pepperstone, Vantage Fx).
Per (pehn1)
Oct 27 2016 at 14:19
posts 3
In case you forgot that Martingale algorithms always will end up please take a look here (now that the myfxbook account has been deleted):

https://www.sectorcapital.dk/sector-1m/#top

Actually this account was not completely blown up but almost. Seems like the other Sector Capital accounts also hold some kind of Grid or Martingale so please be very careful in any future allocation to these systems being offered (look at the scary but super tempting account profit accumulation but please do not forget the equity draw down that shows the underlying and unhealthy system). If many trades are being closed at the exact same time it's usually Grid or Martingale so watch out for that. Demand to see trade record (closed orders and trade time stamps) and equity DD prior to investing.

Sector one clearly had Martingale and the account does not seem to have been deleted by the provider yet. Shame that the myfxbook was deleted.

I hate to see yet another myfxbook account blown (or almost blown) and the account then being deleted. Unfortunately I know it is bound to happen many times going forward. It is the small retail investor who takes all the risk and always loose their investments in these Martingale set-up's.

This is Martingale. Not Ponzi.

Both are evils that the world would be better of without.


Fichiers joints:

Per (pehn1)
Oct 27 2016 at 14:22
posts 3
minor but important correction:

'Sector one clearly had Martingale and the account does not seem to have been deleted by the provider yet. Shame that the myfxbook was deleted.'

should be replaced with:

'Sector one clearly had Martingale and the account does now seem to have been deleted by the provider. Shame that the myfxbook was deleted.'

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