c7traders

[Big River Man]

It has been brought to our attention that there are unfounded allegations against the legitimacy and integrity of our brokerage. We will like to formally address the concerns here.

C 7 Traders is a Social Trading brokerage that works with fund managers to provide institutional strategies to end users. We gather AUM and work on a performance fee sharing model between our fund managers and investors. Dilong/LowRisk/SteadyCapture are some of the strategies we work with. Every month, we feature 10 recommended fund managers on our site (https://www.c7traders.com/investment) and work with a hardstop of 20% on all their accounts. Non featured traders such as Dilong/LowRisk do not have a hardstop placed by the Company.

The statistics shown on SimpleTrader are calculated based on the formulas of Myfxbook and the Company takes no part in gaming the statistics. All fills are verified from live prices of the market. We welcome any concerns from any clients that might have spotted a fake fill in any of the strategies listed in our brokerage and we will look seriously into it (Though we are sure that none can be found).

To answer why the drawdown is not showing the true drawdown of the strategies is a question that should be posted to Myfxbook. We host strategies (using the same accounts) across various platforms including FXjunction/MQL5 and obtain varying statistics on the drawdown. However, this is not an uncommon problem since we understand that there are limitations in each platform's algorithm.

We are left bewildered that the inconsistency of statistics (using the same data) has presented accusation against the broker's legitimacy. In order to be guilty of such an accusation, gamed trade history should be presented but none has been discovered till date. Such an accusation is akin to an accusation against Myfxbook/SimpleTrader for a collusion with C 7 Traders to game the statistics.

Therefore, we find these accusations baseless.

We ask that further concerns be emailed directly to our brokerage info@c7traders.com so that your questions can be answered in a concise and quick manner. We also request that you do not jump to conclusions that all apples are rotten for brokers with less reputable license. After-all, every Company has a starting point in their history.

Regards and have a good trading ahead.
C 7 Traders

Good to come here and address the issue and to shed some light on the featured and non featured.

[Big River Man]

@brm tappatalk been working fine for ages on these forums??

Sent from my SM-G930F using Tapatalk

Haha its an old signature that seems to have resurfaced!

[C7Traders]

It has been brought to our attention that there are unfounded allegations against the legitimacy and integrity of our brokerage. We will like to formally address the concerns here.

C 7 Traders is a Social Trading brokerage that works with fund managers to provide institutional strategies to end users. We gather AUM and work on a performance fee sharing model between our fund managers and investors. Dilong/LowRisk/SteadyCapture are some of the strategies we work with. Every month, we feature 10 recommended fund managers on our site (https://www.c7traders.com/investment) and work with a hardstop of 20% on all their accounts. Non featured traders such as Dilong/LowRisk do not have a hardstop placed by the Company.

The statistics shown on SimpleTrader are calculated based on the formulas of Myfxbook and the Company takes no part in gaming the statistics. All fills are verified from live prices of the market. We welcome any concerns from any clients that might have spotted a fake fill in any of the strategies listed in our brokerage and we will look seriously into it (Though we are sure that none can be found).

To answer why the drawdown is not showing the true drawdown of the strategies is a question that should be posted to Myfxbook. We host strategies (using the same accounts) across various platforms including FXjunction/MQL5 and obtain varying statistics on the drawdown. However, this is not an uncommon problem since we understand that there are limitations in each platform's algorithm.

We are left bewildered that the inconsistency of statistics (using the same data) has presented accusation against the broker's legitimacy. In order to be guilty of such an accusation, gamed trade history should be presented but none has been discovered till date. Such an accusation is akin to an accusation against Myfxbook/SimpleTrader for a collusion with C 7 Traders to game the statistics.

Therefore, we find these accusations baseless.

We ask that further concerns be emailed directly to our brokerage info@c7traders.com so that your questions can be answered in a concise and quick manner. We also request that you do not jump to conclusions that all apples are rotten for brokers with less reputable license. After-all, every Company has a starting point in their history.

Regards and have a good trading ahead.
C 7 Traders

[dupapa]

@brm tappatalk been working fine for ages on these forums??

Sent from my SM-G930F using Tapatalk

[Big River Man]

Should make a list of what C7 signals are called on the ST website so people can know and avoid.

I am Just a Man Frustrated with Tapatalk and New Forum Integration

[oportunis]

Unless they close the yellow equity line fluctuates.DD is now less than yesterday and if they close trade in profit it won't show anything. Only thing that shows DD was so big is the max. DD pointed in the left column, so those 8% should be there untill another DD surpasess it.

[MarioDraghi]

How are they erasing their drop from yesterday from their history? http://icecream.me/uploads/feaba00b8...71b7babdf0.png

[genki7]

Obviously, Some signals that come to the simple trader as signal providers,may just come to make subscription fees with little to no interest in making sub's money over the long term.

A loop hole that can be taken advantage of due to the websites issues.

It is all apart of the rules,I guess, like the " trading Contest ". Where it is not about doing what is in the spirit of things ,it is more about how you can obtain a benefit "for Yourself " within what the system allows.

Well exploiting things is nothing new, just hate to think it is people in the FS community that are doing the exploiting of others here.

So be aware sub's,the provider may not actually be interested in making money for the Sub's.

[dupapa]

The filtration of signals has never been good here.

5 mins of a coders time to make it better. Yet 0 response (likely due to mam only being preferred model for extra $ income received.

a better solution that's proven here is just ignore it an let customers loose money to fake accounts. Over time the moaners go away or at least that's the plan.


Jokes aside the whole ranking system is under developed and poor in current quality an tbh from previous actions from admin at fs.com very unlike to improve any time soon either.

Sorry but it's not the sites focus. Two years of complaining have got us no where at what point you say I give up.

You might ban on signal at what point do you look at your whole sub par ranking and collection of stats.

The c7 traders are a joke and given the platform to abuse they will hurt you.

Wouldn't be the first time nor last

Let's see if anything is actually done

It's their business so upto them.

Sent from my SM-G930F using Tapatalk

[MarioDraghi]

What's going on here with this signal also using C7 called "Low Risk" showing 2.85% DD" but current draw down is almost 8%... http://icecream.me/uploads/817f0a6c0...8185592398.png

http://icecream.me/uploads/2051d74453201dd6537c38a090ebf669.png

Look at the screen shots, floating DD is almost 8% yet simpletrader.net is not showing their real DD. SimpleTrader.net team needs to keep an eye on these guys from C7 they will make them look bad for hiding their real draw down & it will cost people their accounts.

[Westie]

Thanks for looking into it Dom !

From my untrained eye, the drawdown on the ST website look much more accurate now.

Much more accurate then the myfxbook stat's too - at least in the cases where this broker is involved.

Great Job !

[Dom]

I think there may be something wrong with the code rather than the formula.

The Dilong signal's now showing 20% DD, which is miles away from the 2% or so that was shown last week.

Now might be an ideal time to debug this issue, as the signal at number 1 Position (GoldenKiwi) is using the same EA, from the same person and shows 0.01% DD, yet another user on this forum has calculated the real historical DD at more like 20%.

https://www.forexsignals.com/forum/f...2-dilong/page2

I've just checked this track record and stats - this has been resolved and the draw-down has been updated.

[Westie]

I think there may be something wrong with the code rather than the formula.

The Dilong signal's now showing 20% DD, which is miles away from the 2% or so that was shown last week.

Now might be an ideal time to debug this issue, as the signal at number 1 Position (GoldenKiwi) is using the same EA, from the same person and shows 0.01% DD, yet another user on this forum has calculated the real historical DD at more like 20%.

https://www.forexsignals.com/forum/forum/signals-from-forexsignals-simpletrader/signals-from-simpletrader-network/85272-dilong/page2

[Dom]

I am travelling which is why I am not on the forum or the live site alot now for some time.
I would like Nick or Will to address a few things
1) the complete ignorance of the formula for the competition and how shocking it is
2) the complete lack of updates for the signals marketplace and the stubborn use of the same formula to rank them
3) the inability to update the signals marketplace to rank by certain parameters

Don't get me wrong I love this website and I am Australian but **** me dead....Will is a coder or a computer guy right? So for the life of me I can't see why he isn't doing shit about this. I have friends that are pulling their hair out about this.
The formula must be easy to change I feel it's pure laziness. it's genuinely pissing people off Will/Dom/Nick (whoever is in charge of the formula)

The drawdown thing IS LOSING YOU BUSINESS too guys, if someone follows the #1 singnal that shows 1% drawdown and mixed it with steady capture but gets 50% drawdown from Dilong even though it says 1% drawdwon MAX then you lose business. it's as simple as that.

I am pretty sure Nick isn't the tech guy so whoever is in charge of that PLEASE STOP IGNORING US it is a detriment to your business model.

Like I said do not get me wrong this is the best website for signals and trading out there. BUT the crowd is fickle and quite a few of us have been asking questions for some time so Dom or Will please answer or address this???

Hi Big River Man,

Sorry to see that you're getting frustrated.

Answering your questions in order:

1) Our formula is based upon industry practices. It's not perfect but then again, nor is any formula. We've considered your feedback (ulcer index) but that too has it's pros and cons (not just in the formula itself but in some cases, how we're handling the data and what we can do with it). This is why we also conduct due diligence over and beyond a formula.
2) Same as above.
3) If you have additional ideas that you've yet to mention, please pm me and we can discuss this.

The difficult point to articulate is how data (being trades) is handled and interpreted. When someone uploads their track record, we need to cycle through each trade and reference historical price (on a 1 minute interval) to determine what the draw-down might have looked like in the past. It's accurate to the 1 minute interval. This means we're estimating what could have happened on trades that were open for less than 1 minute. In 99% of the cases, this isn't a big deal. This is one of many micro challenges that can cascade into big issues when dealing with data - all in all though, we're doing a very good job with producing relatively accurate statistics.

We acknowledge though - as do other stat sites - that it's not accurate 100% of the time and sometimes we need to look into some signal providers to identify whats happened. But again, this is on a rare occasion.

We will endeavour to address discrepancies or issues more quickly moving forward.

[ccjhuang]

As I have said in other posts before, any strategy that shows a nice straight growth line is in itself a serious red flag / warning sign. It means the trader is only closing small winners and holding onto losers. Whether they are hiding the real DD or not, they will eventually hit a very large DD or blow the account one day, and it's just a matter of time.