• Trading Room
  • Trusted Brokers
  • Blog
  • Forex Forum

Announcement

Collapse
No announcement yet.

Fxm piggy bank

Collapse
X
  • Filter
  • Time
  • Show
Clear All
new posts

  • Fxm piggy bank

    Pardon me if I am mistaken, but the newest signal to grab the #1 ranking today has grabbed my attention.
    As others have pointed out, a very casual glance at a system's basic stats (even if the History is hidden on MyFXBook like this one) and you should be able to spot red flags if they exist.
    My memory immediately referenced other posts I have seen here detailing how some of the signals ranked highly here do not pass the "sniff test".
    My memory also referenced the intriguing 2017 hit documentary on the Bernie Madoff Ponzi Scheme scandal. How other traders, hedge fund managers, and regulators should have been able to see glaring red flags early on in the Madoff saga that they needed to follow up on but didn't.
    1. Are signal followers really able to make money by using this trade copying subscription?
    2. Can anyone confirm making money on Signals such as: Scrptx portfolio and FxSpartans ?
    The closed trades of FXM Piggy Bank seen below cause me great suspicion. You know what if there is a High Frequency Trader out there who can accomplish this performance and execution, then I am amazed.
    • A 5 LOT trade open for 3 seconds capturing 16 pips on CADSGD on 10 Aug equating to $564 profit?
    • A 2 LOT trade open for 32 seconds capturing 174 pips on EURNOK on 10 Aug equating to $406 profit?
    • A 5 LOT trade open for 8 seconds capturing 540 pips on USDCZK on 6 Aug equating to $1196 profit?
    • A 5 LOT trade open for 13 seconds capturing 375 pips on USDTRY 7 June equating to $4124 profit?


    piggy-bank.JPG
    “Learn from your mistakes and do not give up!”

    Outside the Box - Myfxbook
    Outside the Box - SimpleTrader Trade Copying
    Outside the Box - MQL5 Trade Copying

  • #2
    First of all, until now ScrptX is making profits even few ones found some red flags.
    Secondly the Piggy Bank isnt available to follow, this is only listed for marketing. Such kind of strategy is not possible to use for copy trading.
    Furthermore you know that they have been also on Donnaforex, and be verfified by Donna.
    Its verified that they own balances over 1million $ and are managing customers capital over $5 millions.

    you are there too, so there is no sorry for that, i am Reading and reading only negative from you about other people, dont care about other signals. Otherwise there could be some red flags that you like to talk about other instead of your own high risk system with floating drawdowns.

    Comment


    • #3
      Originally posted by danwe1987 View Post
      First of all, until now ScrptX is making profits even few ones found some red flags.
      Secondly the Piggy Bank isnt available to follow, this is only listed for marketing. Such kind of strategy is not possible to use for copy trading.
      Furthermore you know that they have been also on Donnaforex, and be verfified by Donna.
      Its verified that they own balances over 1million $ and are managing customers capital over $5 millions.

      you are there too, so there is no sorry for that, i am Reading and reading only negative from you about other people, dont care about other signals. Otherwise there could be some red flags that you like to talk about other instead of your own high risk system with floating drawdowns.

      Please do not distract from the most important focus here.
      Those signal providers who have built up credibility and who have many happy investors.
      I just read this post on the Donna Forex Forum:

      "As many on this site are already aware there are numerous unscrupulous signal providers ready to take advantage of 'innocent' investors, however, the MQL5 signal service takes some beating this year with the total loss of investor funds now approaching $5M ( yes million!) with just two signal providers. The signals are then immediately removed from the website, giving the impression that the site offers only 'safe' systems....similar to many other signal provider websites..

      The way this works is that even though MQL5 try to flag the more risky systems, there is no stopping the greed and impulsiveness of investors when they see steady double-digit growth month after month, until the subscribers are so many the trader only needs one month's subs to retire comfortably and swiftly loses all interest in his clients.
      The latest 'dragon' and 'safe dragon' GBP/JPY 20% month return systems calamity comes swiftly after the loss of a $3M investors funds from a 'no-lose' S&P 'long only' system."


      My systems make money, while at times experiencing some drawdown in between, especially on higher risk systems with higher returns.
      Challenging my credibility is ridiculous as I have been a long time signal provider and if you truly do your homework you can find suitable answers regarding all the Trade Copying systems and PAMM funds I manage.
      Just be careful out there, and basically what I wanted to say is just do your due diligence and do not be carried away by a track record that cannot be explained or that cannot be followed. These signal providers have a lot of explaining to do before investors can feel comfortable that they are not going to just walk away after the first couple months like has happened on MQL5 this year.
      I pray that this is not what's starting to happen here at SimpleTrader. Just letting it go to the dogs. Doesn't seem like the ST staff is very much interested in monitoring what type of signals / systems are posted here.
      “Learn from your mistakes and do not give up!”

      Outside the Box - Myfxbook
      Outside the Box - SimpleTrader Trade Copying
      Outside the Box - MQL5 Trade Copying

      Comment


      • #4
        Originally posted by daileycon

        They haven't even chimed in on this topic: https://www.forexsignals.com/forum/f...s-improvements
        Why would they? The entire ST only had around 110 subs. Well 110 x $15 = $1650 Revenue. They not gonna bother wasting their time to respond. The focus is on the trading room, which is great btw.

        Comment


        • #5
          piggy is back with $200 sub fee

          Comment


          • #6
            Anyone following this signal comments....? nc!

            Comment


            • #7
              Originally posted by OutsideTheBoxHK View Post
              Pardon me if I am mistaken, but the newest signal to grab the #1 ranking today has grabbed my attention.
              As others have pointed out, a very casual glance at a system's basic stats (even if the History is hidden on MyFXBook like this one) and you should be able to spot red flags if they exist.
              My memory immediately referenced other posts I have seen here detailing how some of the signals ranked highly here do not pass the "sniff test".
              My memory also referenced the intriguing 2017 hit documentary on the Bernie Madoff Ponzi Scheme scandal. How other traders, hedge fund managers, and regulators should have been able to see glaring red flags early on in the Madoff saga that they needed to follow up on but didn't.
              1. Are signal followers really able to make money by using this trade copying subscription?
              2. Can anyone confirm making money on Signals such as: Scrptx portfolio and FxSpartans ?
              The closed trades of FXM Piggy Bank seen below cause me great suspicion. You know what if there is a High Frequency Trader out there who can accomplish this performance and execution, then I am amazed.
              • A 5 LOT trade open for 3 seconds capturing 16 pips on CADSGD on 10 Aug equating to $564 profit?
              • A 2 LOT trade open for 32 seconds capturing 174 pips on EURNOK on 10 Aug equating to $406 profit?
              • A 5 LOT trade open for 8 seconds capturing 540 pips on USDCZK on 6 Aug equating to $1196 profit?
              • A 5 LOT trade open for 13 seconds capturing 375 pips on USDTRY 7 June equating to $4124 profit?


              piggy-bank.JPG
              It is a legit system that trades news releases. Of course using this as a signal service is pointless. This is probably just a free promo for the forexmanaged db company. You'd have to join a mam/pamm is actually profit from this type of trading.
              Put the edge in your hands.
              Crypto MarketMaker Robot
              Github - Contact for Verified Trading History

              Comment


              • #8
                I have traded news in the past not signal. Slippage and broker was the enemy Dukas Copy broker closing orders were - 50 pips at news. You need a very good broker if it exists...bad experience.
                Will watch and see if anyone has better luck. nc!

                Comment


                • #9
                  Good research Outside The Box. And yes as HedgeBitCoin suggests it likely would be hopeless to try to copy if it is a news trader with slippage etc etc

                  Comment


                  • #10
                    There is extensive discussion at donnaforex the trader recommends direct trading setups for the slippage and broker and his platform is not MT4 which performs very bad at news time. On my watch list .... nc!

                    Quote "Therefore best to become a Private Client, follow our procedures and our preferred venues and platforms, in order to have us apply trading directly onto your account."
                    Last edited by nc!; 09-20-2018, 05:58 PM. Reason: There is no managed account

                    Comment

                    Working...
                    X