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  • #46
    Eurostar had virtually unlimited, no cut off. The drawdown for goldstar was clearly listed, in fact less than what I thought (7.5% as soft and 12.5% as hard stop). The 2x/4x risk was explained very clearly before in the old thread. If you hadn't read it, then it's your own fault. Seriously just give hans a break. He made a "mistake" but he admitted it and now moving on he will do his best to get us back on HWM. So relax guys

    Sent from my SM-N920I using Tapatalk

    Comment


    • #47
      Originally posted by WillT View Post

      I'm sorry Pippie but come on.... FX Viper couldn't tell you when he'd cut a trade... The guy would just hold on forever.

      Lets not get onto that topic as its the wrong place and most certainly the wrong time.

      Sticking to the facts, it hurts loosing money. but this is part of trading, and we'll soon be back to trading. The important thing to consider is when a trader tells us that he is going to take action at a level, that he sticks to that (which he has).
      Will I really have to sleep on it and give it a some serious thoughts before I decide whether I will continue with this signal. The loss is easier to bear if you first had good profits. It is a very bad start. I agree that everyone can make a mistake but for an experienced professional to take such a risk in holiday time is not a good sign. It can take a long time to recover from the losses and when the time comes my account has been recovered it might be time for a new mistake. I made a mistake to transfer all my viper balance to this one. It really hurts. I feel sorry for the ones who were on 4th time risks. How can you take such a risk if you know you have such a responsibility. I just can't understand that.

      Comment


      • #48
        I have only recently joined GoldStar, and I do understand people are shattered, but that is the risk of forex. I for one will be continuing the journey with Hans because his track record is generally untarnished. Sure this basket hurts, but I accept the risk profile and understand any investment has its risk. Particularly those with excessive leverage.

        I am one of the lucky ones who has a paid subscription, and I can turn risk right down. The reason I don't like the idea of MAMM's is that you can't set the risk profile to your liking. I am following GoldStar at below risk multiplier of 1.

        Would it be in the best interest Nick to offer all followers, either a subscription-based signal or MAMM? Then the onus would be on the follower to set it at an acceptable risk. Just food for thought.

        Comment


        • #49
          What a big disaster! Now I have lost 400 % of all profits from 2016!
          Last edited by signalfollower; 01-05-2017, 03:55 AM.

          Comment


          • #50
            Originally posted by shawntan View Post
            Eurostar had virtually unlimited, no cut off. The drawdown for goldstar was clearly listed, in fact less than what I thought (7.5% as soft and 12.5% as hard stop). The 2x/4x risk was explained very clearly before in the old thread. If you hadn't read it, then it's your own fault. Seriously just give hans a break. He made a "mistake" but he admitted it and now moving on he will do his best to get us back on HWM. So relax guys

            Sent from my SM-N920I using Tapatalk
            So new subscribers are supposed get details about risk settings from an "old thread"?? Give me a break!!

            Comment


            • #51
              Unfortunate to bear this loss but it feels good to take the hit and be out of it. That's the game we signed up for and I am glad I went with 3x risk.

              Nevertheless, I will personally drop down to 2x and take on a "slow and steady" mindset to growth.

              Hans, thanks for a great 2016 and I know you are in this too for the long haul so if you are reading this, see you when you are ready.

              Comment


              • #52
                Originally posted by woollie View Post

                And we were all told that the risk is half and therefore 4X mam is actually 2X, but the truth is the risk is really a 4X. I sign up for a 2X risk at icm not asking for any higher.
                Just to be clear on this.

                When the GoldStar MAM was launched it was run at 2x risk (due to demand for a higher risk option) with a maximum drawdown of 30%.

                We then halved the leverage used on the master account, thereby reducing the maximum drawdown from 15% to 7.5%

                The MAM was left as is, however it was now called the 4x risk because of the reduction in the master account.

                What I'm getting at here is that everyone got what they signed up for, we didn't force a higher level of risk on anyone after they agreed to join.

                I'm not using this an excuse, I just want to make sure that we're all crystal clear, because to accuse of of doubling your risk without your consent would be a major failure on our part.
                Click here to check out the most popular forex channel on YouTube

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                • #53
                  Hello Nick,

                  My IC Markets account displays this morning -28.89%

                  Quite big loss in only one night.

                  My "Balance" == "Free margin"

                  However, history of the main GoldStar MAM account is clear for this year:

                  No history for this year.

                  IC Markets support asks to write the money manager.

                  Comment


                  • #54
                    Originally posted by Nick View Post
                    I'm not using this an excuse, I just want to make sure that we're all crystal clear
                    No, you are NOT, Nick. By setting the risk of IC Markets MAMM at 4x, you force Hans to close the trade at 7.5% drawdown at his master account, rather than 15%. This is exactly where the increment of risk comes from. In another word, if the risk were set at 2x, Hans could close the trades at 15% drawdown, that is, he could have another 7.5% to go, which means we would have more rooms and lower risk.

                    Comment


                    • #55
                      For me, Its time to leave forexsignals.com MAMM Accounts.

                      I am revoking GoldStar MAMM for now and waiting for Steady Capture Account to come down with in profit levels.
                      The reason i am quitting to MAMM is because traders do not use stop loss at all. Sooner or later this has to happen for each trader.
                      For eg: Steady Capture is keep buying AUDCAD adding positions to basket and risking our money which seems quite foolish.

                      Even I am able to use stop loss and trade on my own account and making money since November 2014. This is my only account i have since i start trading in Feb 2014 where the first 8 months were quite difficult. Please check my account with monthly profit (% wise it is showing wrong data)

                      http://www.myfxbook.com/members/Ahme...ccount/1399937


                      Comment


                      • #56
                        Just read the informative email of Nick:

                        Dear GoldStar Client,

                        If you're not already aware, I have some bad news. We were forced to close out the basket of trades earlier today in a losing position.

                        The loss on your account is likely in the order of 30% and no doubt a significant blow to not only all of our finances, but also our expectations.

                        Comment


                        • #57
                          Originally posted by Hans Bowles View Post
                          GOLDSTAR UPDATE

                          I have taken my loss at 7.5%, as promised because I not like to play around with money from my clients. 7.5% loss closing slowly eventually became 8.1% during the closing process because we didn't want to close all trades at one time in case clients got slipped.

                          I've spoken with Nick and Will as well during the closing of my trades, and he fully supported my decision of closing the basket as transparency and honesty is what I believe in and so does Nick.

                          It's clear that I have traded things a bit too aggressive compared to my normal style of trading which is more conservative. It's not my usual style and I should have traded differently at this time of year. But the this is similar to February last year where I fought back also and successfully, a bit too fast actually but without trading more aggressively, just more often.

                          The plan for now is to look forward and get back to high watermark level but very conservative, not aggressively and get back to this level in 3-4 months from now. Obviously it can be done fast as proven last year, but probably not in 1-2 months, because that means I would need to be aggressive for the next 1-2 months, while I prefer to just keep calm. I do hope that the majority of all clients accept this as well as understand. Yes it would be great if we get back really fast but it is not what I'm aiming for.

                          I feel really bad for all of my clients who have accepted this loss with me, but I know I can recover this without too much stress just like before.

                          I'll close myself off from the world and be back during NFP and see if I can start making a few pips back and obviously cautiously as I not plan to have full baskets of plan A (15 per side) until I'm back at high watermark.

                          2016 overall was a good year of 29% resulting in a profit of 30% over the year.

                          I am absolutely positive that we hit the 30% or more again this year of 2017, even with the loss setting us back 8%.

                          Hans
                          Thank you for the update Hans. Since I have the 4x risk I'm at 30% loss but since you will stick to your strategy it also means I'll also get 4x the return for the recovery so no problem.

                          And if people weren't aware they were at 4x risk then they should really open their account at least once.
                          http://widgets.myfxbook.com/widgets/2229599/mini.jpg

                          Comment


                          • #58
                            Again, we make a loss in November and hope to recover in December but did not, then we hope to recover in Jan and now we loss 30%. This is the 3rd attempt and his pass methods did not work, so will it work going forward to rercover our accounts?

                            Comment


                            • #59
                              Dear GoldStar Client,

                              If you're not already aware, I have some bad news. We were forced to close out the basket of trades earlier today in a losing position.

                              The loss on your account is likely in the order of 30% and no doubt a significant blow to not only all of our finances, but also our expectations. We're all in this for the same reason, to make money, and when we hit a set back like this it makes us question whether or not we're making the right decision by continuing.

                              Forex trading is volatile and unfortunately we have to take the good with the bad, price moved much more than the trader anticipated and as a result he had to accept the error and close the trades.

                              There is some comfort in the fact that the tough decision was made and the trades closed in a pragmatic fashion. The loss hurts, but it should easily be recovered within the coming months, just like we've seen on previous occasions.

                              Where to from here?
                              Careful, deliberate trading over the next few months should see a full recovery. As promised., it won't cost you anything until we surpass the equity high on your account as of 1st November 2016 (or your original deposit if you invested after this date).

                              Thank you for your investment and faith in the strategy up till this point, please stick with it and I'm confident the returns will be worth it in the end.

                              If you have any questions please reply to this email, we're available 24hrs per day to field any questions.

                              Regards

                              Nick McDonald


                              Above is the email content i received today.

                              Comment


                              • #60
                                Well. It's not been a very Merry Xmas with this basket and my own confusion as to why we were even trading when the trader said he was done for the year. Also annoys me as I should of just turned off the signal myself but I really didnt expect this from Hans as he is one of the best traders here so it's hard to lay blame. Needless to say I really don't understand why we traded this time and also why when so heavy and at BE a couple of times not to just deleverage. I guess confidence can be a blessing and a curse. I don't even want to check how far this takes me back but without a doubt this is a serious blow to my lifestyle and plans for the year.

                                I will stick with Hans as his message summed up exactly how I thought and felt. Plus he has done it before. It is just so so so frustrating to be taking this hit in this holiday period.

                                Hans keep your head up mate, I am happy to see that you have admitted to ****ing up. Now lets just get back to the business of making money responsibly. If we have made this back in 3 months then it's no harm done. But I think this is just a testament to people not projecting their thoughts on the market especially between Xmas and NY.

                                Bloody hell. Okay time to pick ourselves up.

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