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SiamFX "Redemption" Question For Nick

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  • #31
    Here is an example of Siams Customer support, when i had a problem with a payment some month ago, that was actually done, but somehow not registred (Later Nick`s staff helped me out):

    quote:

    Dear traders, SiamFX can no longer offer support. Therefore, if you miss a payment ( by not having funds in your paypal account) your subscription will expiry and we can't help you any more. Your subscription will be cancelled immediately and you must sign up again. What to do now? Read our forum on our website. If your questions aren't already answered, you can post your questions for someone to help. Forum Link Our company has enjoyed providing full support for the last 5 months and thank you again for following our signals. regards, SiamFX Staff

    Calling this "service" is a a bit of exageration i believe.

    Comment


    • #32
      You did get my email that explained in detail why there was no support right? Or you could have read the beginning of this forum because I've already explained it again.

      I don't have a support team today, nor will I in the future.

      How the service works,

      Sign up here - http://www.connectforex.com/signal/2850/Redemption.html

      Login to simpletrader.net and download the EA/cbot then you attach it to your Live trading Platform (mt4 or ctrader) after selecting your Risk Multiplier in the back office,

      You keep enough money in your paypal account to complete the subscription payment (monthly, on the day you originally signed up. No surprises) and you won't have problems.

      SimpleTrader.net provides support for all technical details regarding their Trade copier.

      @PM you had issues because you didn't have money in your paypal account or your credit card was invalid and when Paypal tried to withdrawal the service fee, SiamFX is notified that paypal will try again in 7 days, and then again in 7 days, and so on. Basically this allows abuse which you recieve the signal while you are not paying.

      If you miss a payment ( by not having funds in your paypal account) your subscription will expiry and we can't help you any more. Your subscription will be cancelled immediately and you must sign up again

      Comment


      • #33
        I don't have a support team today, nor will I in the future.
        Last edited by siamfx; 11-11-2014, 05:11 PM.

        Comment


        • #34
          Originally posted by siamfx View Post
          @sanriopurin thank you for your intuitive effort, I'll explain my view on drawdown and hedging later on when I have time since these topics are subjective and will need a lot of explaining with examples.
          Hi Trader, thank you for taking the time to read my comments. I'm not on "your side" but then again I'm not on anyone else's side either. I'm on the side of MAKING MONEY.

          I know that you know a lot more about trading, but indulge me to say a few things. Firstly, is it possible for you to 'dial down' the risk, on your side? That is, run the algos such that it is less likely to hit big drawdowns.

          I'm not talking about "use less multiplier". To my eyes at least, this Redemption signal has similar chance of blowing up as the previous accounts. I recall the previous accounts did the same type of big lot recovery attempts, but the prolonged EURUSD dive wiped out all chance of recovery. Using less multiplier only limits the amount of money I lose, but not eliminate/reduce the chance of blown account.

          From hereon it's pure guesswork on my part:

          1. Hedging (as in, taking the opposite position) before big news will help ease investors' mind. You may not be around when it happened, but many forum posters on your website (me included) immediately concluded that the traders were gambling with our funds when we were heavy long with NZDUSD, heavy drawdown (around 30-40% if I recall), NFP was due to be out, and yet no hedge was taken.

          You may take out the hedge almost immediately if the news is in your favor. Sure you'll lose out a bit, but (for me at least) it gives me the confidence that this signal will be around for a long time.

          2. If directional trading isn't working out, why not grid in the opposite direction? Back in Aug-Sep, those who were long on NZDUSD (like us) sure as hell was wrong. Know when the "admit wrong" and start gridding with the trend instead, once we realize we are wrong.

          3. Have you experimented with mixed grid directions? There's a mention of a total of 7 pairs to be traded. Is it possible for every 5 of the pair you trade in the direction you think it's going, while the other 2 you trade in the opposite? Since the premise of this signal is "market is always ranging", even the 2 opposite pairs should in theory, "come back to you", while you profit away with the other 5.

          If your main 5 happen to be wrong, then the 2 opposite pairs can be your 'hedge', to avoid DD getting uncomfortably large.
          Last edited by sanriopurin; 11-11-2014, 11:53 PM. Reason: EDIT: I know I'm oversimplifying things

          Comment


          • #35
            Originally posted by siamfx View Post
            You did get my email that explained in detail why there was no support right? Or you could have read the beginning of this forum because I've already explained it again.

            I don't have a support team today, nor will I in the future.

            How the service works,

            Sign up here - http://www.connectforex.com/signal/2850/Redemption.html

            Login to simpletrader.net and download the EA/cbot then you attach it to your Live trading Platform (mt4 or ctrader) after selecting your Risk Multiplier in the back office,

            You keep enough money in your paypal account to complete the subscription payment (monthly, on the day you originally signed up. No surprises) and you won't have problems.

            SimpleTrader.net provides support for all technical details regarding their Trade copier.

            @PM you had issues because you didn't have money in your paypal account or your credit card was invalid and when Paypal tried to withdrawal the service fee, SiamFX is notified that paypal will try again in 7 days, and then again in 7 days, and so on. Basically this allows abuse which you recieve the signal while you are not paying.

            If you miss a payment ( by not having funds in your paypal account) your subscription will expiry and we can't help you any more. Your subscription will be cancelled immediately and you must sign up again

            it is not that you should provide the service without getting paid. it is the way you talk to your customers .. Looks arrogant, but the fact is that it is just stupidity. Dont forget business is between real people ....

            Comment


            • #36
              Just keep money in paypal, keep a creditcard that isn't used on backup and followers won't get booted off the signal.

              I believe I had awesome full time support for many months, but once she told me that customers were being #ss$oles that hurt her feeling I couldn't care less. @PM, if your Phillip, You missed more than 1 payment and it becomes a waiting game for paypal to try a withdrawal again. It's more work for support to make a special list of people that didn't pay on time, therefore it was easy for me to post a very Clear Rule that needed to be followed.

              I provide signals, not support for retail customers. I spend my time wisely trading and connecting with institutional quality investors. If it comes off as arrogance, it is only because my goals are aligned for a more productive future.

              Nick does a great job providing assistance for his traders, so it would be best for you to stick to his traders with their outstanding support.
              Last edited by siamfx; 11-12-2014, 08:11 AM.

              Comment


              • #37
                Originally posted by siamfx View Post
                Just keep money in paypal, keep a creditcard that isn't used on backup and followers won't get booted off the signal.

                I believe I had awesome full time support for many months, but once she told me that customers were being #ss$oles that hurt her feeling I couldn't care less. @PM, if your Phillip, You missed more than 1 payment and it becomes a waiting game for paypal to try a withdrawal again. It's more work for support to make a special list of people that didn't pay on time, therefore it was easy for me to post a very Clear Rule that needed to be followed.

                I provide signals, not support for retail customers. I spend my time wisely trading and connecting with institutional quality investors. If it comes off as arrogance, it is only because my goals are aligned for a more productive future.

                Nick does a great job providing assistance for his traders, so it would be best for you to stick to his traders with their outstanding support.
                Dont worry Siam, i will not be a customer of yours ... never again, that is a promise i will give

                Comment


                • #38
                  Originally posted by sanriopurin View Post
                  Hi Trader, thank you for taking the time to read my comments. I'm not on "your side" but then again I'm not on anyone else's side either. I'm on the side of MAKING MONEY.

                  I know that you know a lot more about trading, but indulge me to say a few things. Firstly, is it possible for you to 'dial down' the risk, on your side? That is, run the algos such that it is less likely to hit big drawdowns.
                  I shouldn't need to. As you mentioned previously you can decide on your Risk Multiplier to select a suitable risk profile that you can stomach.
                  Originally posted by sanriopurin View Post
                  I'm not talking about "use less multiplier". To my eyes at least, this Redemption signal has similar chance of blowing up as the previous accounts. I recall the previous accounts did the same type of big lot recovery attempts, but the prolonged EURUSD dive wiped out all chance of recovery. Using less multiplier only limits the amount of money I lose, but not eliminate/reduce the chance of blown account.
                  Free Margin allows me to flatten all positions at any second that I choose. I needed, I do it. However, its only for a breaktime because hedging only locks in your loss and costs you more money in spreads and slippage. It's not a solution by all means but only flattens the portfolio when you think the market can possible move beyond your analysis.
                  Originally posted by sanriopurin View Post
                  From hereon it's pure guesswork on my part:

                  1. Hedging (as in, taking the opposite position) before big news will help ease investors' mind. You may not be around when it happened, but many forum posters on your website (me included) immediately concluded that the traders were gambling with our funds when we were heavy long with NZDUSD, heavy drawdown (around 30-40% if I recall), NFP was due to be out, and yet no hedge was taken.
                  Volatility is needed to make money and news trading is the best time for this. Hedging the news release prevents making money. It's best to ensure you have enough free margin to handle the news release ( get the data first) and then make that decision, not before the release. If you don't have the free margin to sustain the market move ( varies on what type and standard deviation from census) then Hedging is vital.
                  Originally posted by sanriopurin View Post
                  You may take out the hedge almost immediately if the news is in your favor. Sure you'll lose out a bit, but (for me at least) it gives me the confidence that this signal will be around for a long time.
                  You are paying more $$ in spreads, and will face slippage releasing the hedge after news. This Hedge can easily be automated for all investors that want to do their own hedging before news releases.
                  Originally posted by sanriopurin View Post
                  2. If directional trading isn't working out, why not grid in the opposite direction? Back in Aug-Sep, those who were long on NZDUSD (like us) sure as hell was wrong. Know when the "admit wrong" and start gridding with the trend instead, once we realize we are wrong.
                  Agreed 100%, NZDUSD should have been traded SHort once Weekly Trendlines were broken.
                  Originally posted by sanriopurin View Post
                  3. Have you experimented with mixed grid directions? There's a mention of a total of 7 pairs to be traded. Is it possible for every 5 of the pair you trade in the direction you think it's going, while the other 2 you trade in the opposite? Since the premise of this signal is "market is always ranging", even the 2 opposite pairs should in theory, "come back to you", while you profit away with the other 5.
                  I am always biased, I wouldn't run both long and short on the same pair unless its in a tight range like eurchf. trading Buy AUDUSD and SHorting EURUSD for hedging purposes would be more suitable but also requires a third market to follow instead of focusing only on two ( FX pairs trade in twos). The more markets you trade, the more news you must follow especailly if your trading Buy USD on one pair and Selling USD on another. It's something that I can work through automation though. Thanks for the advice!
                  Last edited by siamfx; 11-12-2014, 03:38 AM.

                  Comment


                  • #39
                    You can say rubbish all day no one is listening !
                    you are just money greedy and after high subscription fee !

                    Comment


                    • #40
                      Thank you for taking the time to respond to my comments/questions.

                      I've decided to still stay by the sidelines, but good luck to you nonetheless!

                      Comment


                      • #41
                        SiamFX_Explains_Drawdown.jpg

                        Drawdown Explanation

                        Myfxbook calculates the drawdown as following ( Account Balance - Equity / AccountBalance = Percentage of drawdown in Account). For example, 10000 Balance - 9000 Equity = $1000 drawdown / 10000AccountBalance = 0.10 = 10% Drawdown. It's straight forward and accurate to measure open drawdown. My account experienced a 65% DD based on this figure, however I look at drawdown percentages differently.

                        I base my drawdown solely on equity to give me an accurate gauge of my drawdown situation instead of using the account balance. I do this because my account balance is always growing from activity trading ( my recovery strategy, Manual Scalping). This added trading activity pushes my account balance higher, while the equity may stay stay flat, go down or slightly go up. As a trader, our lifeline is our Equity because if you close all open positions, you will always end up at the Equity Level, thus this proves that Account Balance has no relevance to the actual account. The next life line for a trader is the Free Margin, and this will vary from broker to broker because of the different proposed Leverage that the broker offers. FreeMargin and the Equity of your account are the only indicators to display the Health of your account. Account Balance doesn't matter until you have zero open positions.

                        When I start trading, I look at the equity level of the previous month and base my drawdown percentages based on this amount. Why? Some traders bank a few pips during the day and use these pips as a cushion for further trades that day, this allows them to risk more ( increasing the stoploss if they choose, or increase their position size, etc because they have banked profit and use this as a cushion.). I do the same but use the previous months profits as my cushion.

                        In the image above, I started My cushion Level based on October 1st, 2014 ( Blue Line) and base my drawdown percentages off this because a month is a relatively small amount of time when you look at the annual return on investment(AROI). I'm willing to risk more if the previous month was profitable ( I'm willing to give this back essentially) and less concerned about drawdown percentages. If my Account Equity was at 80k in October, and now it is at 45k I'm looking at my account as if I have a 43% drawdown and not what it recorded on Myfxbook because I don't consider the account balance as being relevant. Therefore, Myfxbook will always record a higher DD% than what really matters.

                        Please remember this only applies to my system because my account balance is always growing. Not many systems can do this, just for example Caesar and dayfox (both systems that use Averaging) don't increase the Account Balance during cycles of drawdown because the whole basket of trades are normally held open until closed at a profit, breakeven, or lose.

                        In the image above, the Red Box displays how much my account balance has grown since High Water Mark Equity (Black Line) The blue box is the Equity Drawdown from the previous months Equity(Blue Line). The Blue line and blue box are what I focus on during trading. I don't focus on the recorded myfxbook drawdown percentages.

                        Currently, as of November 12, 2014 , SiamFX Aggressive are at a new High Water Mark Equity. This means the algos are on, and I'm off!
                        My manual trading recovered the drawdown and I'll be working on algo development tomorrow.
                        Best luck to your investment decisions.
                        Last edited by siamfx; 11-13-2014, 02:43 PM.

                        Comment


                        • #42
                          A comment from the DayFox thread caught my eye (" Nick, you should make sure that no team trader goes over 30%DD or something like that. This would be a very basic protection to your clients.").

                          Each Follower has the ability to set a Max Drawdown limit within the TradeCopier on their own account that disables the signal completely. On the other hand, maybe there should be a Max Risk Multiplier to prevent traders from using above a certain level because it seams followers fail to make this decision on their own. For example, my signal should be capped at 0.5 Risk Multiplier to ensure no customer experiences beyond 30%, based on my historical 60% dd. What do you think?

                          Comment


                          • #43
                            Hi SiamFX, capping at 0.5 for your future subscribers is a good idea. Although, you must calculate the minimum amount of capital required.

                            For example, this is just on top of my head (without checking): let's say currently your account balance is USD 110,000 and minimum lot is 0.10. Capping your risk by half essentially requires your subscriber's balance to have a minimum balance of 110,000 divide by 10 (to get 0.01) times 2 (because risk is halved) = USD 22,000

                            Correct?

                            Comment


                            • #44
                              Yes you are correct.

                              100,000 it is divided by $5000 ( min investment ) to produce the minimum lot size for the master = 0.20 lot , You would get a 0.01 lot on the $5000 with Risk Multiplier 1.0

                              If the Equity drops below 100000. the minimum lot is still 0.20 lot on the Master to ensure followers get the same Risk Per Trade through the duration.

                              If the Risk Multiplier is capped at 0.5 then you are correct, it would require the minimum investment of $10,000


                              Minimum Investment Explained
                              Risk Multiplier of 1.0 requires $5,000
                              Risk Multiplier of 0.5 requires $10,000
                              Risk Multiplier of 0.25 requires $20,000
                              Risk Multiplier of 0.10 requires $50,000
                              Last edited by siamfx; 11-17-2014, 05:53 AM.

                              Comment


                              • #45
                                Please read through these questions - http://siamfx.net/faq/ -
                                If anything doesn't make sense to you please tell me and I'll explain the information with more detail. Thank you

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