The manager held trades and added positions outside the permitted parameters, and before we were able to reach him there was a stop out. Subsequently, he told us that the 13% max risk was per 'day' and that trades held for multiple days could see larger losses. We did not accept this explanation and have since asked him to explain exactly what happened, however, we have only gotten very vague responses. As a result, we have disabled his access to the master account pending a full investigation into what actually did occur.
It is an EA, but like all EAs a manager can make changes to parameters or manually intervene as they see fit. It seems that the PAMM that crashed had some issue. Euronis has told us they are looking into it.
FXPIG posted: It is an EA, but like all EAs a manager can make changes to parameters or manually intervene as they see fit. It seems that the PAMM that crashed had some issue. Euronis has told us they are looking into it.
Looks like it was on GBPAUD pair if the summary is anything to go by, huge negative pips overall on this pair. Feel very sorry for those investors. Surprised some sort of equity protection EA didn't kick in, or SLs on the trades. Will be many unhappy people. If it happened on their other PAMM, I hope it doesn't happen on the other PAMM listed on your public page since it's same management team...
Obviously, there was a lot of negative pips as there was a stop out, that goes without saying. The thing is other PAMMs traded by Euronis elsewhere and even the other account traded with us did not see these trades. Forex is forex, so most anything that can happen will happen. Hopefully after they find out what happened they will be able to take steps to be sure it does not happen again. We of course will help in any way we can.
FXPIG posted: No, the account was under 10 pips from a stop out on the Friday close... with an already widened spread. It was the 200+ pip gap that killed the account and sent it into negative territory.
ah yes the huge GAP on GBP pairs due to hard brexit fear after PM May speech outlines released before her actual speech to parliament. And of course even if there was a SL a GAP goes through it. Looks like also happened on the Global Prime account, although it managed to survive... https://www.myfxbook.com/members/EURONIS/euroniscom--globalprime/1585919 why I always fear for systems keeping trades opened on the weekend. cheers Kevin.
FXPIG posted: Yes, the GP account was lower risk, about 30% it seems.
Looks like under summary GBPUSD longs for the FXPig PAMM Euronis also large negative pips, I assume it was also affected by this GAP, but perhaps managed to survive as can't see the same large negative pips on GBPAUD pair, so didn't get a double whammy, of GAPS on both pairs (with very high correlation between those pairs on GBP news). cheers
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