Systems on MyFx

I've looked around to see if this has been asked before and could not find a discussion.

With some of the systems that have a great track record but are not showing their open trades, is it possible with this site to show a great track record but they are only selling the profitable trades and holding onto the trades that are negative and hiding it by blocking anyone from seeing the open trades?

There are a few very good % gain systems that do not have their open trades block from view and they are showing many many open trades that have huge losses.

Thanks in advance for responses

You might be able to determine that by looking at the Equity Growth line. If they are holding onto negative trades you will see large separation between that and the Growth line. Hope this helps.

Would be good to get some traders to post the reasons why they would hide their open trades .. I cant think of any good reason to do this unless they wanted to hide something.

Spearion posted:
Would be good to get some traders to post the reasons why they would hide their open trades .. I cant think of any good reason to do this unless they wanted to hide something.

I've inquired about this on several systems and the excuse I was given is because they didn't want people copying their trades. 😉 ok

Redwingfan posted:
I've looked around to see if this has been asked before and could not find a discussion.

With some of the systems that have a great track record but are not showing their open trades, is it possible with this site to show a great track record but they are only selling the profitable trades and holding onto the trades that are negative and hiding it by blocking anyone from seeing the open trades?

There are a few very good % gain systems that do not have their open trades block from view and they are showing many many open trades that have huge losses.

Thanks in advance for responses

Nope, such negative open trades will be reflected be permanent DD which cannot be hidden

Nope, such negative open trades will be reflected be permanent DD which cannot be hidden
Did not know that. Thanks

i still think that some people are getting round the controls though. There are quite a few accounts that have amazing history but they have terrible reviews because no one can get the same results. What is up with that?

Development101 posted:
i still think that some people are getting round the controls though. There are quite a few accounts that have amazing history but they have terrible reviews because no one can get the same results. What is up with that?

It depends,
either fabricated results with the scam broker
or small pips profit that cannot be mirrored due to sllipage
Any example?

Spearion posted:
Would be good to get some traders to post the reasons why they would hide their open trades .. I cant think of any good reason to do this unless they wanted to hide something.

Yes that is right.
As a Signal Provider and Fund Manager, I have heard time and time again that the prop traders, banks, well-educated traders, and other professional finance people are looking for good strategies to use/piggy back off of..... and well... I guess some of them don't want to pay for this privilege. They'd rather just highjack it if they can. I know some people in the Forex space who are already doing this.... some without renting a signal... some without investing in a Fund..... someone who follow a strategy and pay the associated fees and who continue to 'on sell' the trades for their own profit and own followers.

togr posted:

Development101 posted:
i still think that some people are getting round the controls though. There are quite a few accounts that have amazing history but they have terrible reviews because no one can get the same results. What is up with that?

It depends,
either fabricated results with the scam broker
or small pips profit that cannot be mirrored due to sllipage
Any example?

Yes this is what I was going to say.

1 --- In addition, some use cent accounts and get lucky for a while.
2 --- They could run 10 cent accounts with 'opposite' trades, different permutations of say 3 different currency pairs, and then just use the 1 most profitable account after 10 or 20 trades in order to attract subscribers or clients.
That way, they have only lost a small amount of money on the other cent accounts that didn't close profitable trades. they just close those down. then their one 'good looking' cent account tops the ranking on MQL5, SignalStart, etc and they attract 20 plus subscribers.... then they downshift into 'slow' mode to keep the subscribers as long as they can.... or they blow up enough to show their client base that they are scammers / not competent at trading.

Redwingfan posted:
I've looked around to see if this has been asked before and could not find a discussion.

With some of the systems that have a great track record but are not showing their open trades, is it possible with this site to show a great track record but they are only selling the profitable trades and holding onto the trades that are negative and hiding it by blocking anyone from seeing the open trades?

There are a few very good % gain systems that do not have their open trades block from view and they are showing many many open trades that have huge losses.

Thanks in advance for responses

Same opinion; although few accounts are showing the open trades; but haven’t such an old account.

Adribaasmet posted:

Redwingfan posted:
I've looked around to see if this has been asked before and could not find a discussion.

With some of the systems that have a great track record but are not showing their open trades, is it possible with this site to show a great track record but they are only selling the profitable trades and holding onto the trades that are negative and hiding it by blocking anyone from seeing the open trades?

There are a few very good % gain systems that do not have their open trades block from view and they are showing many many open trades that have huge losses.

Thanks in advance for responses

Same opinion; although few accounts are showing the open trades; but haven’t such an old account.

I agree with your opinion! But till now, myfxbook is the best site! There have so many good traders with such a great result.

They do but I have tried systems that have great myfxbook results but the results that I got were very different

Pandapaws posted:
They do but I have tried systems that have great myfxbook results but the results that I got were very different

@Pandapaws
were these accounts fully verified?

togr posted:

Redwingfan posted:
I've looked around to see if this has been asked before and could not find a discussion.

With some of the systems that have a great track record but are not showing their open trades, is it possible with this site to show a great track record but they are only selling the profitable trades and holding onto the trades that are negative and hiding it by blocking anyone from seeing the open trades?

There are a few very good % gain systems that do not have their open trades block from view and they are showing many many open trades that have huge losses.

Thanks in advance for responses

Nope, such negative open trades will be reflected be permanent DD which cannot be hidden

where does it display? on account info or drawdown tab under chart?

sometime i see an account get 6% drawdown, but in the drawdown tab it show 20%

why it differ? take this account for example https://goo.gl/s5HJNu

on account info it says 3.61% drawdown
on drawdown tab under chart it says 19.47%
on monthly analytic at the bottom, the highest lost for a month is 7.02% (jan 2016)

what is the right way to read this drawdown?