That is what I have been seeing. I looked at their live account, and never at any point does it show the kind of constant DD I saw.
Matter of fact, based on minimum risk and that it opened a lot size of 0.1 lot in my account, I have seen it carry an open DD of -15,000 pips. Most of the time, the DD would hover around -10,000 pips, and every once in a while it would drop down to less than -1,000 pips. I ran all 6 pairs at minimum risk the entire time.
Now that I have said that, it was not uncommon for it to gain +1,000 pips in a day. There were even a couple times that it gained as much as +3500 pips in a day.....still based on minimum risk and lot size of 0.1.
Also, and this is for anyone checking into it, the supposed -400 pip SL is non-existent. With this type of martingale system, the SL is continually moved further and further from the open price as more positions are opened to recover from a bad open position. What I experienced was during some of the close outs of a recovery group, I would sometimes have several positions in the group closed that were 2000-3000 pips negative. So, if you ever did actually hit a full SL, the loss would be catastrophic....As in FAR MORE than the claimed 10% DD. I would venture to say that a full SL would wipe out 50% of the account.
I wonder if anyone has done a long term test with tick data from dukascopy????
Make losses, but always come out a winner at the end.