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SiamFX "Redemption" Question For Nick

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  • SiamFX "Redemption" Question For Nick

    Nick,

    Can you please convince the SiamFx signal owner to remove the $100k account size limit for the time being?
    I get that he wants to get people over $100k to join as managed accounts with him, but um, we need to see more performance for a few months at least.
    At this point I would never put my money in a managed account with SiamFx, ever, because I wouldn't be able to control it and trade my way out of any mess they make.
    Redemption account looks good, yeah, but it's not realistic for him to expect to gain managed accounts just yet.

    I want to give it a try but only through simpletrader. No managed.

  • #2
    Why on earth would you put more than 100k with this guy?!?!?! He just blew 2 accounts!!!

    Comment


    • #3
      Why would anyone put any money with this guy? Totally agree with big river man. siamfx blows accounts.

      Comment


      • #4
        His two incompetent junior traders blew the accounts while he was trying to set up a bitcoin brokerage. He obviously didn't care. He also put his fiance in charge of support, believe it or not... and she couldn't take the "heat" from customers asking "when will the recovery work kick in?"

        Eventually she posted "wake up and smell the coffee! in forex you can lose everything" as if it was our fault.
        Who outsources support to their fiance?????????
        ...and who just stands idle watching as the traders you outsourced your operation to starting in July, destroy your years of history?
        I guess Siamfx does.

        Comment


        • #5
          Originally posted by w2cap View Post
          His two incompetent junior traders blew the accounts while he was trying to set up a bitcoin brokerage. He obviously didn't care. He also put his fiance in charge of support, believe it or not... and she couldn't take the "heat" from customers asking "when will the recovery work kick in?"

          Eventually she posted "wake up and smell the coffee! in forex you can lose everything" as if it was our fault.
          Who outsources support to their fiance?????????
          ...and who just stands idle watching as the traders you outsourced your operation to starting in July, destroy your years of history?
          I guess Siamfx does.
          And you still want to put an account over 100k with his signals knowing what has happened in so much detail?

          Comment


          • #6
            No, I really moreso wanted to know if Nick would do anything to knock some sense into this guy.

            #1 he blew most peoples accounts. I hedged my way out and into a bit of profit but it was so dangerous if things went back into their grid's direction. I made $800k to cover their $770k in losses, in the end. It was horrible and I threw up sometimes just like many subscribers probably did. Anyway, so he wants to charge $149/month for people who give him another chance - no free months or anything. WTF?

            #2 he put a limit of $100k for signal accounts because he wants people to join his PAMM instead. W.T.F? Who would put money fully under his management with NO control to be able to hedge against him should he screw up again?

            To be honest, SiamFx's new "offering" is a big middle finger to all previous subscribers, even though SiamFx probably doesn't see/realize that. I want Nick to do something about it.

            Comment


            • #7
              Originally posted by w2cap View Post
              Nick,

              Can you please convince the SiamFx signal owner to remove the $100k account size limit for the time being?
              This won't happen. I will lower the Capital restriction to $50k in a few months.

              Originally posted by w2cap View Post
              He obviously didn't care.

              Who outsources support to their fiance?????????
              I was setting up an FX brokerage without retail markup, offered to everyone. I care very much and it would offer Lower commission than any retail fx exchange with ctrader platform. My fiance is highly capable being trilingual, unfortunately retail fx investors isn't her interest.

              Originally posted by w2cap View Post
              No, I really more so wanted to know if Nick would do anything to knock some sense into this guy.
              What do you have in mind? Free trial for 1 month, PM me for the link.
              Sign Up to Redemption SiamFX Signal -- FAQ -- MyFXBook

              Comment


              • #8
                Originally posted by w2cap View Post
                ...and who just stands idle watching as the traders you outsourced your operation to starting in July, destroy your years of history?
                I have to trust people because without doing so I'd be doing everything myself forever. I'll be able to reach my goals faster with a team. It didn't work out and because of the trust I had with them I lost the most because a reputation is the hardest to fix.

                Originally posted by w2cap View Post

                Eventually she posted "wake up and smell the coffee! in forex you can lose everything" as if it was our fault.
                She already left before this and I had the two traders monitor the forums as well. They were stressed and reported some users posting harsh languages because of the unmanaged drawdown. This led to the deletion of the forums.

                It is clear to me now that customers of siamfx were risking more money than they can financial afford to lose and this perpetuated insults, spam bots, hate mail, and so on.
                Sign Up to Redemption SiamFX Signal -- FAQ -- MyFXBook

                Comment


                • #9
                  Originally posted by siamfx View Post
                  I have to trust people because without doing so I'd be doing everything myself forever. I'll be able to reach my goals faster with a team. It didn't work out and because of the trust I had with them I lost the most because a reputation is the hardest to fix.

                  She already left before this and I had the two traders monitor the forums as well. They were stressed and reported some users posting harsh languages because of the unmanaged drawdown. This led to the deletion of the forums.

                  It is clear to me now that customers of siamfx were risking more money than they can financial afford to lose and this perpetuated insults, spam bots, hate mail, and so on.
                  Ah ok, so it was one of the two traders. Yep, some people if i remember right were using 3 or 4x risk. Hate mail and insults don't get them anywhere. If they wanted to solve their problem created by your traders, they should have read up on fundamentals and hedged big.

                  Anyway, our trust is broken too. I guess I'll have to wait it out and see how your signal goes over the next few months, then catch up with you to see if you're planning on outsourcing anytime. I'm trading myself for now. If i can outperform you, great, but I doubt it for now.

                  Comment


                  • #10
                    I will need to put this in perspective for everyone to understand Risk vs Reward

                    DayFox, Nick's latest trader to join his ForexSignals.
                    Started in July 2013, A deposit of $20k with profits of $20k ( gain 199%, with 95% abs gain)
                    his account occurred a 42% max drawdown with average 7% monthly gain.
                    http://www.myfxbook.com/members/dayf...x-forex/938893

                    Next is FXviperTrading, Nick's best trader that joined his service more than 1 year ago
                    Started in June 2013, a deposit of $100k with profits of 62k ( gain 62%, 62 abs gain)
                    His account occured a 13.8% drawdown with an average of 3% monthly gain.
                    http://www.myfxbook.com/members/FXVi...account/616112

                    SiamFX Agressive aka DirectionalFX started in march 2013 with a deposit of $7600
                    with a profit of $151k ( gain of 2367%, abs 1974% ) and today's drawdown peaked at 64% where historical drawdown was 41% . The average monthly gain is 17.5% gain.

                    DayFox
                    7% gain with 42%drawdown = Risk 6 to Earn 1
                    FXViper
                    3% gain with 13%drawdown = Risk 4 to Earn 1
                    SiamFX
                    17.5% with 64% drawdown = Risk 3.6 to Earn 1


                    Smaller Risk for the same reward is a better score.

                    In order for FXviper to reach my potential, his DD would reach 75% drawdown ( I earn 5.8 times more than him ) and DayFox would have blown his account at 100% + ( I earn 2.5 time more than him ). This also means that Followers can run my signal at Risk Multiplier of 0.16 and still earn as much as Vipers signal since inception also you can run my signal at Risk Multiplier 0.4 and still earn as much as DayFox since inception.

                    Since my strategy changed on November 2013 ( new algorithms ) I will do a custom analysis to display
                    a more accurate evalution since dradown and monthly gains has significantly changed since this time. Started on November 2013, the average monthly gain is 23.9% resulting in a better Risk Reward ratio of == Risk 2.67 to Earn 1

                    My Aggressive Strategy is better than FXviper and DayFox in RR perspective. And before this day my historical drawdown was 41% with 23.9% monthly gain resulting an a respectable 1.7:1 RiskReward

                    Unfortunately, none of these systems are outstanding since the reward should always be greater than the risk, but how else do you expect us to make profits every month back to back?
                    Sign Up to Redemption SiamFX Signal -- FAQ -- MyFXBook

                    Comment


                    • #11
                      Originally posted by siamfx View Post
                      I will need to put this in perspective for everyone to understand Risk vs Reward

                      DayFox, Nick's latest trader to join his ForexSignals.
                      Started in July 2013, A deposit of $20k with profits of $20k ( gain 199%, with 95% abs gain)
                      his account occurred a 42% max drawdown with average 7% monthly gain.
                      http://www.myfxbook.com/members/dayf...x-forex/938893

                      Next is FXviperTrading, Nick's best trader that joined his service more than 1 year ago
                      Started in June 2013, a deposit of $100k with profits of 62k ( gain 62%, 62 abs gain)
                      His account occured a 13.8% drawdown with an average of 3% monthly gain.
                      http://www.myfxbook.com/members/FXVi...account/616112

                      SiamFX Agressive aka DirectionalFX started in march 2013 with a deposit of $7600
                      with a profit of $151k ( gain of 2367%, abs 1974% ) and today's drawdown peaked at 64% where historical drawdown was 41% . The average monthly gain is 17.5% gain.

                      DayFox
                      7% gain with 42%drawdown = Risk 6 to Earn 1
                      FXViper
                      3% gain with 13%drawdown = Risk 4 to Earn 1
                      SiamFX
                      17.5% with 64% drawdown = Risk 3.6 to Earn 1


                      Smaller Risk for the same reward is a better score.

                      In order for FXviper to reach my potential, his DD would reach 75% drawdown ( I earn 5.8 times more than him ) and DayFox would have blown his account at 100% + ( I earn 2.5 time more than him ). This also means that Followers can run my signal at Risk Multiplier of 0.16 and still earn as much as Vipers signal since inception also you can run my signal at Risk Multiplier 0.4 and still earn as much as DayFox since inception.

                      Since my strategy changed on November 2013 ( new algorithms ) I will do a custom analysis to display
                      a more accurate evalution since dradown and monthly gains has significantly changed since this time. Started on November 2013, the average monthly gain is 23.9% resulting in a better Risk Reward ratio of == Risk 2.67 to Earn 1

                      My Aggressive Strategy is better than FXviper and DayFox in RR perspective. And before this day my historical drawdown was 41% with 23.9% monthly gain resulting an a respectable 1.7:1 RiskReward

                      Unfortunately, none of these systems are outstanding since the reward should always be greater than the risk, but how else do you expect us to make profits every month back to back?
                      I think you are NOT talking straight. Fx Viper does not blow account.

                      Comment


                      • #12
                        SiamFx says he blocked me. Ok thanks SiamFx and good luck

                        Comment


                        • #13
                          @w2cap if you are posting nonsense on myfxbook then yes I did block you. I'm not interested in flame wars because that's all I'm seeing atm.

                          Sure, FXviper didn't blow his account, but he also didn't make 2500% gain within the same time period. http://www.myfxbook.com/members/Siam...amfxnet/840494

                          My point is trying to explain risk vs reward because it seams very few understand it.
                          Sign Up to Redemption SiamFX Signal -- FAQ -- MyFXBook

                          Comment


                          • #14
                            Originally posted by siamfx View Post

                            In order for FXviper to reach my potential, his DD would reach 75% drawdown ( I earn 5.8 times more than him ) and DayFox would have blown his account at 100% + ( I earn 2.5 time more than him ). This also means that Followers can run my signal at Risk Multiplier of 0.16 and still earn as much as Vipers signal since inception also you can run my signal at Risk Multiplier 0.4 and still earn as much as DayFox since inception.
                            I have to teach new followers because I don't want to hear about people losing their live saving again and solely blaming me. It's childish to point the finger when its your account at risk. You choose the risk setting, account balance, and whatever amount of risk capital or saving. That was all your choice.

                            I've also stated I trade as aggressive as I possibly can. I also diversify into other strategies with more than one trading account. If I blow up an account, it doesn't wipe me out because I understand that anything can happen in FX (Risk Capital: Allocate what you can afford to lose). I've seen way more volatility including Swiss bank intervention, Financial crisis, Japanese invention(500+ pips spike in 2011) etc. Many of you were risking everything you had, I didn't and now I get flame wars because your pissed off the investment didn't go straight up as expected. Now that I'm still trading ( because I have more risk capital) all of you want to doubt me and say I shouldn't be trading for others. If you don't want an agressive strategy , then turn down your Risk Profile to a suitable level just like some smart followers stated in the DirectionalFX forum. I read that some followers were using 0.2-0.3 Risk profile and thats smart because their limiting their risk. I believe their using more than 1 SP and thats even smarter.

                            I'm shooting for the stars til my account is beyond a few million, then slowing down to 3% monthly gains will be fine in the future.
                            Last edited by siamfx; 11-07-2014, 06:47 PM.
                            Sign Up to Redemption SiamFX Signal -- FAQ -- MyFXBook

                            Comment


                            • #15
                              I don't subscribe to SiamFX, but from the sounds of it, it is very dodgy and I'd stay clear. I think it's a scam to be honest. I wouldn't trust a trader that had blown your accounts before, whatever the excuse.

                              Comment

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