Jeff5796 posted: only close profit trades and hold on to losing trades (over negative 400 pips per trades)?
What a great scammer
Scammer? His max DD is 13.81% over 4 years....
*Your 1 account has 37% DD, does that make you 3x the scammer?
I didn't say I'm best trader. He is using ATC Brokers which incorporated 2015 in US? Since when US allow forex company to open there? The normal spread will kill at least half of the profit gain. I may trust him if he using Oanda, Axitrader or FXDD which more reliable
Check him out on youtube, or simply look at his account.
-3222 pips is equivalent to 3% DD.. If you keep looking at the myfxbook account, all the stats add up to minimal DD and +108% gain.
I've been following Jeff now for the past two years and have my own funds with him, the returns have been good but for me now the profits slightly outweigh the risk. I follow two other traders also one of which producing higher returns than Viper with less drawdown and the other is a more aggressive approach.
Solaris_CM posted: Are you kidding??!! This system ONLY sells EURUSD. Has anyone asked the question 'What happens when the EURUSD stops going down?'
Or is that an impossibility in your mind?
So the ECB won't go with negative rates, and what happens if the FED decides not to raise rates??? Well, I will tell you. EURUSD will go sky high, and Viper will crash his managed accounts. His signal will look ugly, but it won't crash. Just take a huge loss.
Wake up. This system is a one trick pony and the show is almost over.
You have to understand these types of money managers. This one, Jeff, gets 30% of monthly profits. He is making a very nice living for himself and has no regard for the investors. When the account eventually crashes and burns, the money manager, Jeff, keeps his earned fee while the account holders take all the losses. Just as any hedge fund manager that blows an account, they simply fold up and open a new fund under a different name.
Does Jeff have any of his own money in this account?
money0101 posted: With a balance of slightly over 200k and 5k profit, wouldn't it make more sense to bring your money to the bank and get a low risk index fund or ETF? I mean seriously, is there even a point of trading so much and then bringing home 2.5%? Sorry if I am being controversial, I just want to understand the logic here...
A dividend paying stock would be a better investment than this system.
I was wrong saying the account will eventually be blown, sorry. It seems very little risk is taken, and hence small returns. I don't understand why only eurusd is traded. Why not look at multiple pairs on weekly chart, and trade one that is trending? It seems this would increase returns.
sderrick posted: A 95% success rate means he's running his losing trades and taking small 10 pip profits where ever possible. Such a high success rate is to be expected when you have a profit target of 10 pips and a stop loss of 300 pips or more!
the question is how long can he last?
In my experience this is a classic newbie bait portfolio designed to appeal to naive copiers who expect to see a profit every day.
If the current EUR/USD move continues against him I will be interested to see where he eventually bites the bullet if at all. Currently he's got a book loss of around $13,000!
I'd like to quickly notify you on recent events within the FX Viper managed accounts.
The trader has decided to close all open positions for the month and halt trading until the 1st November.
As you're no doubt aware, we've been holding open trades for a significant period of time, this has has had a taxing effect on the trader. As a result he'll be taking the next week and a half to recharge and work on his strategy without the pressure of managing millions of dollars in open drawdown.
Thank you for your patience and we look forward to getting back to work from the 1st November!
If you have any questions or concerns please feel free to reply to this email.