How about a clean "Only verified real PUBLIC accounts" myfxbook? vote results
How about a clean "Only verified real PUBLIC accounts" myfxbook? Discussion
Jan 17, 2011 at 16:19
1,632 Views
17 Replies
Member Since Feb 16, 2010
1332 posts
Jan 17, 2011 at 16:19
I'm really sick of demo money managers. I don't wanna say that demo account are useless but my opinion is that demo systems should only be set as private. If someone wants to show his results to the public it should be real verified account only.
"In trading, winning is frequently a question of luck, but losing is always a matter of skill."
Jan 17, 2011 at 18:11
(edited Jan 17, 2011 at 18:16)
I don't concur, why make it harder for the inexperienced to get feedback from the more experienced traders on how they are progressing?
myfxbook is a great tool analysing where you stand, whether it is a demo or a real account..
But I on the other hand would say that it should be more obvious to the viewer that an account they are observing is a demo account.
myfxbook is a great tool analysing where you stand, whether it is a demo or a real account..
But I on the other hand would say that it should be more obvious to the viewer that an account they are observing is a demo account.
A person is only limited by the thoughts he chooses.
Member Since Feb 16, 2010
1332 posts
Jan 17, 2011 at 18:40
Of course it's a great tool for analysis, that's why I'm talking only about public accounts. Everybody can analyse his demo account but privately. We all know the psychological difference between trading demo money and real money so demo accounts don't represent the same as what an individual would do if it was real money. There are types of strategies which obviously look good on demo but for sure those 'account managers' wouldn't dare to trade their real money with them. That's why they prefer to show a perfect looking demo trap and risk other people's money. It's a win-win situation for them.
"In trading, winning is frequently a question of luck, but losing is always a matter of skill."
Jan 17, 2011 at 19:13
(edited Jan 17, 2011 at 19:16)
I understand your point and agree, but blocking the public from viewing your demo account restricts those learning from getting valuable feedback from experienced traders.. Thus making it harder for them to improve.
I would rather put the focus on informing people that results on demo accounts do not guarantee the same results with real money. By having disclaimers and warning labels or whatnot.. And making it obvious that the account in question is a demo account and not a real account.
Regards, Stefán.
I would rather put the focus on informing people that results on demo accounts do not guarantee the same results with real money. By having disclaimers and warning labels or whatnot.. And making it obvious that the account in question is a demo account and not a real account.
Regards, Stefán.
A person is only limited by the thoughts he chooses.
Member Since Jan 15, 2011
88 posts
Jan 18, 2011 at 20:28
check out forexgundownyen trading sytem. excellent steady stability appreciation!
The Turtle always wins the race!
Member Since Feb 16, 2010
1332 posts
Jan 19, 2011 at 13:07
peptraderfx posted:
check out forexgundownyen trading sytem. excellent steady stability appreciation!
It's a demo. Real traders trade real money.
"In trading, winning is frequently a question of luck, but losing is always a matter of skill."
Member Since Jan 15, 2011
88 posts
Jan 19, 2011 at 15:14
I guess you are right but soon I believe they'll have a real account up. I've been messaging them and soon they will. Thanks!
The Turtle always wins the race!
Member Since Feb 16, 2010
1332 posts
Jan 29, 2011 at 12:07
peptraderfx posted:
I guess you are right but soon I believe they'll have a real account up. I've been messaging them and soon they will. Thanks!
Until then demo account are just wasting public time. You cannot buy food with demo $.
"In trading, winning is frequently a question of luck, but losing is always a matter of skill."
Member Since Jan 06, 2011
245 posts
Jan 29, 2011 at 13:25
forexma posted:
peptraderfx posted:
I guess you are right but soon I believe they'll have a real account up. I've been messaging them and soon they will. Thanks!
Until then demo account are just wasting public time. You cannot buy food with demo $.
Yeah sure, you can buy Demo food with demo $😁
Knowledge Is Power
forex_trader_27988
Member Since Jan 26, 2011
1367 posts
Jan 29, 2011 at 18:44
what if there were some checkboxes somewhere on this site where i could select to view only content from:
[]live accounts only
[]profitable accounts only
[]no hidden broker
[]no hidden balance info
greater than _______ months trading history.
that kind of thing.
[]live accounts only
[]profitable accounts only
[]no hidden broker
[]no hidden balance info
greater than _______ months trading history.
that kind of thing.
Member Since Feb 16, 2010
1332 posts
Feb 17, 2011 at 09:18
(edited Feb 17, 2011 at 09:26)
Come on guys, we're all here to make money. Demo accounts do not generate money, they generate illusions, dreams and lies.
I use demo to test my strategies and EAs but for you guys it's useless. There is big wall between demo forward test and real forward test. Why? Because there are hundreds of strategies and EAs which look perfect on demo but due to several reasons the developers don't dare to trade their own/real money with them. There must be a reason for that - FEAR. Fear that those systems are not exactly reliable or are pretty dangerous. What's the next step for those developers? Of course to sell and risk other people's money, it's safe, it's perfect, but not for the buyers/investors.
It's sad when I look at the community and I see hundreds of pages of useless information about hundreds and thousands of useless demo accounts. That's a waste of time, valuable time and we know that time is money. When we waste our time we lose opportunities and therefore - MONEY.
I use demo to test my strategies and EAs but for you guys it's useless. There is big wall between demo forward test and real forward test. Why? Because there are hundreds of strategies and EAs which look perfect on demo but due to several reasons the developers don't dare to trade their own/real money with them. There must be a reason for that - FEAR. Fear that those systems are not exactly reliable or are pretty dangerous. What's the next step for those developers? Of course to sell and risk other people's money, it's safe, it's perfect, but not for the buyers/investors.
It's sad when I look at the community and I see hundreds of pages of useless information about hundreds and thousands of useless demo accounts. That's a waste of time, valuable time and we know that time is money. When we waste our time we lose opportunities and therefore - MONEY.
"In trading, winning is frequently a question of luck, but losing is always a matter of skill."
May 02, 2011 at 08:49
(edited May 02, 2011 at 08:49)
Voffi posted:
I don't concur, why make it harder for the inexperienced to get feedback from the more experienced traders on how they are progressing?
myfxbook is a great tool analysing where you stand, whether it is a demo or a real account..
But I on the other hand would say that it should be more obvious to the viewer that an account they are observing is a demo account.
Maybe dump all the accounts that are fully verified into a separate section that is CLEARLY segregated as demo accounts. Because obviously if it's a real account then there's no reason why it cannot be fully verified.
May 02, 2011 at 09:29
(edited May 02, 2011 at 09:33)
ranesh posted:
Voffi posted:
Maybe dump all the accounts that are fully verified into a separate section that is CLEARLY segregated as demo accounts. Because obviously if it's a real account then there's no reason why it cannot be fully verified.
What I meant to say is :
If an account that is demo or real is not fully verified, it should not even be allowed to be made public.
All the fully verified accounts that are made public can show up in the systems page. Since we already have the option of selecting which type of accounts (demo/real/any) we are interested in I don't think it's necessary to have separate sections as such. But all demo accounts should have the word 'DEMO' displayed prominently. (I think Steve suggested having a watermark on the chart or something)
Member Since Feb 16, 2010
1332 posts
May 26, 2011 at 09:40
How many votes are needed for this change? Ok, let's keep the demo accounts public(although that's completely useless) but they need to be at least verified.
MFB, don't you read this suggestions? Can't you see that 'Trading Systems' is flooded with more and more shady systems?
Fake brokers, fake statements, fake identities, fake systems = opportunities for scammers.
MFB, don't you read this suggestions? Can't you see that 'Trading Systems' is flooded with more and more shady systems?
Fake brokers, fake statements, fake identities, fake systems = opportunities for scammers.
"In trading, winning is frequently a question of luck, but losing is always a matter of skill."
May 26, 2011 at 21:53
Idea time!
Phase 1:
Does not need to get to technical but section stuff off in the systems when viewing the strategies.
Section 1:Backtest
Section 2:Unverified
Section 3: 1/2 Verified
Section 4: Verified
Do note, for the ones who instantly criticize people with unverified results. Some people can't verify their system, at least not in a timely manner. I have 2 private ones on here but for some weird reason I can't get one to verify. I have tired the ea and manual stuff but not working with my broker. Don't know why. I'm not to concerned about it because its not public but just for the sake of argument be aware that it does exist.
Phase 2:
Weed out the obvious crap stuff from the real stuff.
Phase 3:
The crap stuff that repetitively wind up in wherever it shouldn't be the user IP address = Ban.
Phase 1:
Does not need to get to technical but section stuff off in the systems when viewing the strategies.
Section 1:Backtest
Section 2:Unverified
Section 3: 1/2 Verified
Section 4: Verified
Do note, for the ones who instantly criticize people with unverified results. Some people can't verify their system, at least not in a timely manner. I have 2 private ones on here but for some weird reason I can't get one to verify. I have tired the ea and manual stuff but not working with my broker. Don't know why. I'm not to concerned about it because its not public but just for the sake of argument be aware that it does exist.
Phase 2:
Weed out the obvious crap stuff from the real stuff.
Phase 3:
The crap stuff that repetitively wind up in wherever it shouldn't be the user IP address = Ban.
*Commercial use and spam will not be tolerated, and may result in account termination.
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