Nick I was just charged for the subscription of this signal last night. Maybe to be fair I should get a refund until my account is back to breakeven. I just got a margin call on my first 3 trades so im down.
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Originally posted by withnail View PostNick - you've completely ignored the fact that the trader has broken his own rules - twice now. People signed up on the basis that the account could not be blown, now you are saying it might be. This seems to happen over and over again with your signals - they say one thing and do another.
It is not good enough to say that people should only be trading this signal with a small account that they can afford to lose, and so the issue doesn't matter. It does.
You say that the situation is "not completely unexpected", but for those that believed the trader and his rules it *is* completely unexpected. I guess that for those that have traded your signals before, the fact that the trader lied and we are now facing margin calls may not be completely unexpected - but I don't think that's what you meant.
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Nick, I joined your services based on an e-mail you sent me and based on your private talk where you guaranteed me a profitable month. I still have the mail as a proof.
Phill convinced me to try the SS service and I considered a maximum 50 % DD. You gave me your word for a profitable month but not only that your promise was broken but I also lost almost all my initial deposit. Yes my initial investment was small, YES I did play with money that I could afford to loose, but nevertheless money are money. Waiting for your plan to get back on track(at least my initial investment).
Thank you
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Silent Specialist
Originally posted by Nick View PostYes... this sux.
But it's not completely unexpected. As I've said from the start, this was always extremely high risk, high return trading.
The problem is that most of us have only just joined so we've missed out on the returns...
You should have only been trading this on a small account that you can afford to lose. The goal wasn't to become millionaires with this signal, it was to make some extra spending money.
I also want to confirm that nobody has paid for this signal yet (everyone is still on the free trial) so there is no conspiracy going on. It's just really bad luck.
I'm actually backing Silent Specialist to dig himself out of this drawdown. But he might also blow the account, who knows... Whatever happens it's not going to ruin me because it's only on a smallish account. Hopefully most of you have adopted a similar attitude.
It is not good enough to say that people should only be trading this signal with a small account that they can afford to lose, and so the issue doesn't matter. It does.
You say that the situation is "not completely unexpected", but for those that believed the trader and his rules it *is* completely unexpected. I guess that for those that have traded your signals before, the fact that the trader lied and we are now facing margin calls may not be completely unexpected - but I don't think that's what you meant.
Sent from my iPhone using Tapatalk - now FreeLast edited by withnail; 10-24-2013, 12:36 PM.
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So, based on the described notion of DD explained here, I conclude that the 50% DD adherence mentioned by SS is somewhat meaningless.
Here's how it is so.
Assume this:
SS
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Balance: $10,000
Open Trades Loss: -$5,000 (assume 5 lots each of $1,000)
DD: 50%
You
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Deposit Capital: $5,000
Open Trades Loss: -$5,000 (assume 5 lots each of $1,000)
DD: 100% (leading to margin call!)
Hence, for those who participate with unequal equity (meaning lower sum) to SS, and with Risk Multiplier of 1 or whatever number you're comfortable, your DD will be different from his.
So, for those with a much lower risk multiplier than 1, like 0.1, for example, you will not mind SS going way beyond 50% DD, because you can take the hit better than him, in fact.
But for some others, they would have busted their account leading to margin call even if SS adhered to his 50% DD.
Isn't it?
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With cumulation initial deposit doubled appr. 6 times. So by taking 100% profit you would have mitigated the risk and doubled your initial deposit 6 times or made 600% in total.
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This signal can be successfully followed. But do not be greedy. Take the profit off the table every time it reaches 100%. I am sorry for those who signed up recently and were not able to grow their accounts but the game is not over. I signed myself would you believe - last friday. SS master account shows that 100% profit could have been withdrawn 6 times before the account goes into a drawdown. Now you may ask why is it only 6 times while the account has grown 8000% therefore it should be 80 times. Do not be greedy again. Cumulation effect makes it 8000% and you can have those 8000% or nothing. Wit
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Anyone going in just drooling on the 8000% over such a short period of 2 months and not understanding exactly how SS trades and the attendant risks involved, is just merely gambling on the fame of SS.
I use a Signal Provider to free my time so I can have freedom of time to do other things while someone is trading for me. I do not gamble so I need to agree as well as understand the signal provider's trading strategy and the risks involved before I can have peace of mind.
Loose change is also money. Might as well donate it to charity if one is to gamble on something one does not understand the risks involved and the skills of the person executing the trade for you. For example, the strategy could be perfect, but the execution could be flawed.
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Originally posted by Kenji View PostWhere did you find the $550? Can you point me to?
His Balance is: A$1748.73
His open trades now: A$1199.67
And that gives the -45% given at MyFxBook ( $550 out of the initial $1000 )
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Originally posted by pinky View PostWhat it hurts the most is that he won't close trades when opportunity arise and accept small loss when market goes other direction (NZD/USD he could exit with small profit after retracement in friday, USD/CAD he could exit with small loss this morning). It's mind boggling how he survived for 3 months.
I thought he is trading cross pairs. I don't see any.
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What it hurts the most is that he won't close trades when opportunity arise and accept small loss when market goes other direction (NZD/USD he could exit with small profit after retracement in friday, USD/CAD he could exit with small loss this morning). It's mind boggling how he survived for 3 months.
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Originally posted by Sushi85 View Postyes , Kenji . 68.6% DD on that play . You are right .
The -45% is for his initial deposit . So he has about 55% of his initial capital . $550 out of $1000 . If he loses another $550 on that play , he will get a margin call
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Originally posted by Nick View PostNope... that was a margin call that closed some of my trades.
That actually hurt. It's not just about losing some money, but it's a felling of having trusted your money to be traded by someone else and then them getting it so badly wrong...
It leaves you feeling a bit like a fool...
Anyway... it's more my pride that hurts than anything else. Natural human response really....
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Nope... that was a margin call that closed some of my trades.
That actually hurt. It's not just about losing some money, but it's a feeling of having trusted your money to be traded by someone else and then they get it so badly wrong...
It leaves you feeling a bit like a fool...
Anyway... it's more my pride that hurts than anything else. Natural human response really....
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silent are you still sleeping.. wake up.. and check!
hope after this trade you open new signal for free.. because its your luck. dont mind the signal fee come to think of it after the signal became paid all of a sudden we experience drawdawn..
you think this is a badluck?Last edited by project; 10-24-2013, 09:56 AM.
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