My message to Myfxbook. I will post their response when they have one.
Can you fix something for me?
You have Velocity Trade's servers (www.velocitytrade.com) listed as Velocity4X (https://velocity4x.com) a broker who is no longer in existence and a well known scam. I get countless emails and now a post on the account located here regarding this issue:
Looks like myfxbook fixed it already. Good to see. Is there anything else you can provide to further prove the balance really is over $200,000, as if thats true its pretty impressive and a real confidence builder in the EA. Well done
1) use a reputable broker 2) start a new account and do not reuse the same account 3) if you advertise an account that has 250k then have it deposited from the start ... 4) show at least 5 months of profit!!! not a few days
June 3th - was big DD , so why you 'Prior to June 6th ' running a different system?... why is not in new myfxbook statment and question # 2. Can you open comments and Magic in your myfxbook statment? If it was not different system, please do it - open 'comments'
1) They're reputable, as a matter of fact the group that owns them owns a lot of other brokerages. You really should do your research. 2) I didn't realize this would be an issue. 3) It had 250K the day this system began. 4) This is just ignorance in how Myfxbook and the system works. Myfbook only prints on a day where the system closes a trade. You want more history? Look at some of the other accounts in the portfolio. Sheesh.
@ forextus - A new myfxbook statement is not possible. Myfxbook takes all of the account history regardless. regarding #2, I can't see where my comments would help you.
For all of you skeptics, just sit back and watch. You'll see.
statarbpro posted: @ duzy - You are obviously a newbie.
yes, lets say I am ... and probably I will be to the rest of my life since forex is not easy ... however I don't think your account will be here in 6 months ...
lets face it your system is great if the market doesn't have any direction; once it starts trading and makes 5000 pips one way I don't think the advertised account will survive; big players might use similar strategies but they try to make 7-10% a year so they don't risk that much like you are ... also people will surely blow their accounts with such high risk
as usual we'll see; I've seen so many systems come and go here ... Forex is optimized to question any strategy ...
1) Please read up on Statistical Arbitrage: Wikipedia has a great primer on the methodology. An arbitrage trade is 2 pairs, one long and the other short, so that 5000 pip run you mention will most likely be followed by a 6000 pip profit on the opposite trade.
2) Regarding your statement 'Forex is optimized to question any strategy' I cannot argue with you there. Truer words were never spoken. It's precisely why statistical arbitrage has been around for so long, since the first Hedge Fund (Hedged Fund) in fact.
statarbpro posted: 1) Please read up on Statistical Arbitrage: Wikipedia has a great primer on the methodology. An arbitrage trade is 2 pairs, one long and the other short, so that 5000 pip run you mention will most likely be followed by a 6000 pip profit on the opposite trade.
fine then you're not going to crash on the 5000 pips move; however still whenever you place your hedge trade there's always 50% chance the hedge will go in the wrong direction,eg: one pair will be stronger (when you sell it) and the other weaker (when you buy it).
I doubt this can be exploited without any risk ... maybe only with a martingale. Anyways I'll shut up now.
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