Hello Peter, Regarding the actual managed accounts, do they execute the same trades that are executed on the live account that we can see? If so, will the managed accounts reflect the same profit of around 63%(current profit), that we see in the live account? In what way does the live account differ from actual managed accounts? Can you please give a short explanation of the differences between the 2 accounts and how they affect the profit on the actual managed account? Thanks.
I just browsed SmartTradeFX.com website. They have no physical office address and contact phone numbers. At their FAQ it is said:
- Where is SmartTradeFX registered and located? SmartTradeFX is registered in Hong Kong, where its head office is located. There is support offices around the world, in Canada, India and Switzerland.
- Is SmartTradeFX regulated by NFA or CFTC in USA? We are currently not registered members of NFA or CFTC. Currently it's not in the best interest of our clients for us to register with the NFA or CFTC due to the new hedging and FIFO regulations. However should the need arise for us to join these regulatory bodies, we will gladly do so.
- Are SmartTradeFX client’s funds safe? Yes, SmartTradeFX Client Funds accounts are insured, and are on deposit with our liquidity provider a CYSEC regulated entity.
Smart Trade FX is regsitered in Hong Kong but why they need Cyprus commissioning? Don't we have clear classic broker a registered company with physical address anymore in this world?
If things gone bad, the Hong Kong government will easily just say 'Oh they are just registered as a common company. We didn't know they do accepting traders money and trading forex.' Then the Cyprus government would say 'We are just monitoring their tradings to certain level, but it is fully foreign company, a.k.a Hong Kong company, we take no responsibility on whatsoever circumtances might caused'.
This month have your live account Fxcbs profit of 25%. This would be very nice. My live account have only 4,63% profit. I have more trades in loss than you and compouding (active money mangement) is very bad with so much lost trades.
Hi all, what spreads you have with your live FXCBS accounts? I saw nice spreads between 1 - 2 pips with commission free account what seemed to be OK. When FXCBS accepted AlonFX LPOA, it looked like they have added further commission or what, and spreads are between 2 - 3 now. Anybody else experiencing this? thanks
ForexPro posted: Computer driven modelling on past data? LOL we call it backtest.. Since multi-pair EAs can't be back tested together on mt4, your answer isn't very satisfactory. Plz be more precise. Thx.
1. Backtest is not a generic name for historical data modelling, more related to Metatrader and Tradestation. In Institutional modelling other applications are used for analysis. Actually, metatrader backtesting is quite weak and hugely inconsistent from broker to broker. (because most broker make up prices as they go long to help profit the desk) 2. Multi-pair EA can be backtested on MT4 using currency pair combining application.
It was going well up until 22nd Dec, increase of 28% from 12th Nov, then on 23/24th it has dropped back to just over 10% below my initial investment. Obviously there are risks with Forex but I would like to understand what happened.
I would also like to know why trading was still happening so close to christmas isn't it know to be much more volatile then? If trading had stopped on the 22nd all those losses wouldn't have happened.
You cannot expect any strategy's performance to go straight up. There will be drawdowns. Unfortunately the market has no trend this time of year, and from what i can see this strategy needs a trend to be successful. Starting first of the year, once everyone's back from holidays, it should continue to perform the way it has in the past. The recent drawdowns don't concern me.
But what DOES concern me is the fact that certain members are stating that while the live account is showing, for example, 4 straight losses, their live accounts show 8. I don't understand this discrepancy since they are all on the same broker with the same spreads. Slippage can play a role of course, but if the only account that succeeds is AlonFx's, then this strategy is of no use to the rest of us.
I hope Peter can shed some light as to why everyone else's losses are greater than his.
My FXCBS account only shows 2 (losing) trades for the 28th Dec but the live account shows 12 trades (6 losing and 6 winning), same 3 losing trades on the 24th, 8 losing trades and 1 winning on the 23rd compared to the 4 losing and 4 winning on the live account...... I agree this is the most concerning aspect, that these figures are different and it seems worse than the live account, which I believe we are supposed to be duplicating, so something seems to be up. There also seems to be quite a time lag on some of the opening/closing times between the live and FXCBS acc. Looking forward to some news.
Hi, We have stopped trading 10/30 until Monday of next week until market intraday movements are more normal. Obviously, in hindsight it was a mistake to let the system run on the week leading to Christmas. Please remember this is a high risk system and we have clearly stated 25% drawdowns are not out of the questions, hence $1500 entry level. We can only look forward now to a strong January recovery.