FX Money Machine

[Nick]

Hey Guys,

Stephen, the owner of FX Money Machine would like to use our forum to interact with our community and answer any questions about their system.

http://www.connectforex.com/signal/1...y-Machine.html

Their trading history sure is impressive!

http://www.myfxbook.com/members/sgbd...machine/640600

Welcome to the forum Stephen!

[thefxmoneymachine]

Thanks Nick for the intro.

The system is very successful, returning over 18000 pips since April 2013 and growth exceeded 470%. The system works on an average DD of 15% and has a capping of 35% in the worst case scenario. I'm giving a 2 week free trial so that subscribers can see the quality of the trades, how they are managed and also the growth in the account balance. Join the system with the free trial with no obligation and test it on a demo account.

I will be here to answer any questions you have. The key traits to be successful in forex is discipline and patience.

Thanks
Steve

[WillT]

Hey Steve,

Thanks for joining - I've seen this signal floating around before and I've been interested in it so It'll be great to see how it develops. Defiantly one I'm interested in

[Waleed121]

Thanks Nick for the intro.

The system is very successful, returning over 18000 pips since April 2013 and growth exceeded 470%. The system works on an average DD of 15% and has a capping of 35% in the worst case scenario. I'm giving a 2 week free trial so that subscribers can see the quality of the trades, how they are managed and also the growth in the account balance. Join the system with the free trial with no obligation and test it on a demo account.

I will be here to answer any questions you have. The key traits to be successful in forex is discipline and patience.

Thanks
Steve

Hi Steve,

I believe 90% of the trades are Capital3X, %10 are yours, any reason why you trade ontop of the hedge fund's trades? Also are you always ever opening 0.10 positions? What is the maximum DD if a sub would like to follow? I believe this is very important, with a high profit gain like your's im expecting large and stressful DD's to be honest. Also do you ever take control of the hedge funds trades and manage them yourself? If so, why is this? Beats the purpose sometimes of having the trust to allow Capital3X trades in the first place.. Excuse my criticism, It's my concern if I would like to subscribe.

EDIT: if you trade yourself, can you talk a little about yourself? Whats your experience? Is it Team traders working alongside yourself? If a trader's taking over my account, even partially (10%) then I want to know more about him so I can stay confident etc.

Many thanks in advance!

Waleed

[thefxmoneymachine]

Hi Waleed,

Thanks for your reply.

any reason why you trade ontop of the hedge fund's trades? I add some of my own trades so that I am different from C3X's performance.

Also are you always ever opening 0.10 positions? high proportion of the trades yes. I'm always in control of risk and I don't over expose myself with high lot sizes.

What is the maximum DD if a sub would like to follow? The maximum DD I allow is 35%. This has never been reached and on average I keep DD around 15%. However, if you trust the system and subscribe when DD is around 15% then you will never see 35% DD on your account. Why? Because you started with a 15% headstart over the master account. So when the system is 15% in DD the maximum you will ever see is 20% DD. Don't be too obsessed about DD. When you start a business you will need working capital to manage your business. I consider floating DD as my working capital. You need to believe in the system

Also do you ever take control of the hedge funds trades and manage them yourself? Very rarely. I've been a subscriber with them for more than 2 years and I trust their trades.

About myself
I've been trading forex for around 5 years. I struggled before I joined C3X as I had the mentality of keeping tight stops even though I was right on the direction of the trades. However, since joining C3X I have learned a lot and since then I've been profitable. I hardly use any stops anymore as most of the positions are positional trades. Most retail traders lose money due to tight stops and these are always hunted by the brokers. This is my belief through all these years of experience.
I believe that discipline and patience will make you a good trader. I came a long way to master these very important traits.

Regards
Steve

[Waleed121]

Thanks for taking time to reply to all my questions. I believe in what your saying that once i enter in lets say 15% DD I will be ahead, but once you open new positions I'm back to the master's original DD. DD of 35% is a bit concerning, it's almost 50% of the account wipe out by one month? I've been blown twice, I'm not looking to do that again! I understand you havent seen 35% yet but like you said you are willing to do so if necessary. Also how many trades are open at once? I saw somewhere you have 16 open trades? If I wish to place £4,000 (GBP) on your signal what risk/lot multiplier must be placed?

Cheers,
Waleed

[thefxmoneymachine]

Hi Waleed,

No sir you won't return to the master's original DD. Only the new trades will be identical. When your account consists of new trades only then yes you will mirror the master account. But remember one thing, your account balance would have grown 15% more in profits. So effectively you are only risking 20% from your capital in DD. And this is only at the worst case scenario. If the DD is kept near the average, you are effectively with no risk on your capital. Just risking profits.

You would agree with me that you prefer risking profits than capital.

On average we try and not have more than 20 trades at the same time.

If using GBP 4000, lot sizes should be maximum of 0.06 lots. I'm using 0.1 lots on a EUR11k account.

Thanks
Steve

[Waleed121]

If I placed risk 1, I believe this would just mirror your account based on my equity balance. So technically this strategy is swing trading? Held for many days. Thanks again.

[Big River Man]

What is the best way to address money management?

You have limited lot sizing to 0.10. Which can replicate risk for up to $10000.

So should we use risk multiplier, lot size multiplier, or just set fixed lot 0.01 per $1000 (so 0.06 in Waleed's case)

[VictorTous]

Good to see you here, Steve

I understand what you're telling us about starting with a lower DD... But please tell us, what would happen from the moment the Equity gets aligned with the Balance (I can see in your myfxbook that it has happened before)? Doesn’t in that case our accounts would start emulating the master, and then incurring in the same DD levels?

Regards,
Victor

[thefxmoneymachine]

Good to see you here, Steve

I understand what you're telling us about starting with a lower DD... But please tell us, what would happen from the moment the Equity gets aligned with the Balance (I can see in your myfxbook that it has happened before)? Doesn’t in that case our accounts would start emulating the master, and then incurring in the same DD levels?

Regards,
Victor

Hi Victor,

Yes DD will be aligned once the account consists of only new trades. But keep in mind that to get to that stage your account would have made profits of say 15% more than master account. So effectively DD will be eating into your profits not your initial capital. This is a big bonus to take advantage of.

As long as DD is eating into profits I'm comfortable with. So my advise to new subscribers is to start slowly and build some profits before using the same risk profile I'm using. But this is just my personal opinion. Some people are happy to risk capital and everyone has his own risk tolerance.

Hope this helps.

Regards
Steve

[thefxmoneymachine]

What is the best way to address money management?

You have limited lot sizing to 0.10. Which can replicate risk for up to $10000.

So should we use risk multiplier, lot size multiplier, or just set fixed lot 0.01 per $1000 (so 0.06 in Waleed's case)

This is a personal choice and depends on your risk profile. If you are going to replicate my exact risk then you use risk multiplier of 1.

[thefxmoneymachine]

DD is around 18% at present. Good entry point for new subscribers I believe.

[qapla]

Hi Steve,

i joined about three weeks ago, very impressed so far!. Anyways, is it possible to transfer my account over to the simpletrader EA?, currently using your EA, while it isn't too bad I would rather have one EA running on my MT4 platform, since I have other signals from them.

Thanks

[thefxmoneymachine]

can you pls PM your email and name. Thanks.