In addition to my observation earlier, there's another factor that adds to my reluctance to jump back in.
I copy/paste the following from Trader's apology email:
"I believe the pressure and more so the negativity from the forum led to the bad performance and hindered their ability to manage the trades successfully, but a simple rule to hedge the basket before 40% drawdown were outlined. " and...
"Unfortunately, the Hedge at 40% wasn’t taken and the outcome of Gridding without intervention resulted in the losses SiamFX occurred."
Furthermore, this is taken from Redemption's signal description details: "Drawdown of Equity will be Hedged to prevent further losses near 20-30% and no longer at 40% as previously traded."
This implies that some kind of hedging strategy is actually in the system, but in the blown accounts episode, it wasn't taken. OK fine, blame it on inexperienced helpers. Let's move on to the current active Redemption service; I still don't see it happening, despite DD reaching 65%.
Now, call me naive/inexperienced (I don't mind!), but my interpretation of 'hedging' (especially after reading the comments above) is "new positions taken against the direction of the current open positions, in order to cap drawdown at a certain level".
If that's what it is, then it's certainly not happening, and those hedging mentions in the apology email sounds more like "in hindsight, that's what we should've done".
If 'hedging' means "opening new positions with ever-escalating lot sizes in order to bring equity and balance curves up in tandem", then yes Trader is "hedging" now, but sorry count me out for now. To me that's not hedging.
In fact, I'm willing to bet this is what happened: when DD reached 20-30% recently, Trader started "hedging" (i.e. opening huge lot sizes in the same direction). Unfortunately market moved against him, and DD reached 65%. But then, NFP moved in favor of him (USD negative), hence DD 'only' reached 65% and it recovered to current levels of 30+%
But what if NFP were to go the other way? 65% would've instantly reached at least 70% in my opinion, then on its way to perhaps 80% by this week.
So there you go, that's what I think. Like I said, if I were to jump back in, I would do so at 0.10 risk. That way, a blown account would've cost me just 10% of my equity. All the best to everyone!
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Disclaimer: I was a prior subscriber, I lost some money, but didn't blow my account. I was genuinely hoping to get back on this signal, based on the 'new promises'.
Unfortunately up till now, I still don't see a reason why. Here's my reasoning: it's not the risk-versus-reward factor, which I admit it's pretty good (I would run this at 0.10 risk anyway if I get on board).
It's HOW QUICKLY the drawdown gets there. This is my observation: once DD gets 'uncomfortable', Trader switches off robot, and scalps to get the equity curve rise up in tandem with the balance curve. In order to do this, Trader puts in orders of 1.0 to 5.0 lots (while robot usually trades 0.09 - 0.20, as far as I can see).
The one-time 65% DD was therefore, comprised quite a big chunk of Trader's manual trading of 1 - 5 lots. This is where I get uncomfortable. What if news release swing the direction against the Trader? The 65% DD will grow to 80% or even worse in no time, due to the huge lot sizes.
I'm guessing what happened recently (the 65% DD) will not be able to withstand this past September's relentless EURUSD dive, without some sort of hedging, or topping up of the master account.
That's just my guess/observation, I still wish SiamFX (and its followers) the best of luck. I'm staying on the sidelines for now.
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Originally posted by timo View PostYou might be even half as good as you think you are Siamfx. But your staff sure as hell weren't.Originally posted by timo View PostHow on earth do you expect anyone to trust you again, after you went AWOL (without telling your clients) and handed the reigns of your entire signal service to other traders.
Originally posted by timo View PostYour paying clients were expecting you to be doing the trading, and you palmed it off silently to obviously untrained traders, who proceeded to successfully kill both accounts.
Originally posted by timo View PostI personally don't buy that you were absent during the entire time. Seriously. Do you really expect us to buy that? The accounts were in constant and increasing DD for well over a month. There were so many times you could have jumped in and said WTF are you guys doing, hedge this NOW. You honestly expect us to believe you didn't look at MyFxBook ONE TIME in over 6 weeks.
Originally posted by timo View PostYou are the owner and operator of this business, and the signals engine is your baby. There is no way you would not be keeping an eye on it daily, or at least weekly.
Originally posted by timo View PostMy guess is you were there the entire time, and just praying it would come back in your favour. When it didn't, you concocted some BS story about how you were starting a brokerage and just happened not to be around during the margin call. For 6 weeks!!!
Originally posted by timo View PostWhat funds you have in reserve doesn't interest me. You blowing up 2 profitable signals interests me much more.
Originally posted by timo View PostThere is no way any reasonably human being could trust you again. No matter how good you were, are, or promise to be. Emotion aside, trust is everything in this game, and you have lost all of it.
p.s. you promised everyone a PayPal refund, but instead you decided to only offer 1 free month. Cmon mate, get off the grass.
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You might be even half as good as you think you are Siamfx. But your staff sure as hell weren't.
How on earth do you expect anyone to trust you again, after you went AWOL (without telling your clients) and handed the reigns of your entire signal service to other traders.
Your paying clients were expecting you to be doing the trading, and you palmed it off silently to obviously untrained traders, who proceeded to successfully kill both accounts.
I personally don't buy that you were absent during the entire time. Seriously. Do you really expect us to buy that? The accounts were in constant and increasing DD for well over a month. There were so many times you could have jumped in and said WTF are you guys doing, hedge this NOW. You honestly expect us to believe you didn't look at MyFxBook ONE TIME in over 6 weeks.
You are the owner and operator of this business, and the signals engine is your baby. There is no way you would not be keeping an eye on it daily, or at least weekly.
My guess is you were there the entire time, and just praying it would come back in your favour. When it didn't, you concocted some BS story about how you were starting a brokerage and just happened not to be around during the margin call. For 6 weeks!!!
What funds you have in reserve doesn't interest me. You blowing up 2 profitable signals interests me much more.
There is no way any reasonably human being could trust you again. No matter how good you were, are, or promise to be.
Emotion aside, trust is everything in this game, and you have lost all of it.
p.s. you promised everyone a PayPal refund, but instead you decided to only offer 1 free month. Cmon mate, get off the grass.
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Originally posted by timo View PostDidn't you recently blow your 2 signals Siamfx?
Originally posted by timo View PostYour Directional and ECN signals offered through Connectforex recently both reached margin call did they not?
Originally posted by timo View PostMaybe you are not aware of the rules of forum etiquette, but posting on other vendors threads is incredibly rude, unless it is supportive or positive.
Originally posted by timo View PostAnd to advertise your own signals on other vendors threads is just obnoxious.
Originally posted by timo View PostBut I think you already know this. In fact, I think you are very cunning and know exactly what you are doing siamfx.
Originally posted by timo View PostYou recently blew 2 signals you were charging several hundred dollars for in subscription fees, with recommended minimum balances of 10k.
Then you hid those failed accounts from your website and myfxbook, and come back to sell your old system once again, as if nothing had happened.
Originally posted by timo View PostWe know what happened siamfx. This account was not 'resting' for 3 months like you claim. You moved brokers and told all your customers this. That account had ended as far as everyone was concerned, and you blew your new Directional FX account, as well as your Razor account.
Originally posted by timo View PostI've been seeing your grubby comments pop up on other vendors threads on myfxbook, as well as this forum. You are obviously up to something, and depserate for new clients since I'd bet most of your clients left you after you wiped out their accounts.
Originally posted by timo View PostThis is textbook, classic scamming, and I would be willing to bet Nick will toss your sorry arse out of this forum in less than a few days.
Originally posted by timo View PostYou should stick to scamming your Thai locals, and leave this reputable forum alone buddy.
No joy to ya.
My Risk Vs Reward is aligned to make me and my followers a lot of profits. You not being a part of it is perfectly ok with me.
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Originally posted by siamfx View PostIf your other signal providers are at a stage of drawdown and if you would like to join our signal during this time here are the steps to follow.
Since your account is at a drawdown, you will need to adjust the Risk Multiplier to a lower setting when first connecting to Siamfx.
For example, you can connect to siamfx using a Risk Multiplier of 0.1 when first attaching the EA/cBot. This will allow you to receive all siamfx open positions immediately, but at 1/10th of the standard risk setting. Since your account is at drawdown, you do not have the required Risk Capital to start following immediately using a standard risk setting.
Once you get all the open positions at startup, login to simpletrader backoffice again, and readjust your Risk Multiplier to the Risk setting that you would like to follow the master account at. For example, 0.2 -1.0, this will allow you to sync all the trades from the master account at startup then you will be able to receive any new signal at the appropriate Risk Profile that you intensionally desire.
When is the best time to join?
Anytime the Equity is below the balance. This will allow you to get a better entry than the master account and as a result, you will earn more profits on all these open trades.
Within the SimpleTrader.net Backoffice you will be required to pick your slippage setting. Please use a slippage setting of 1-3 (pips). Any open trades on the master account that are at profit will not open when you sign up because of this slippage setting. This will ensure that you only get a better entry price than the master account and this will overall give you better results. Please don't worry about missing any already profitable trade because there will be plenty of new opportunities.
Your Directional and ECN signals offered through Connectforex recently both reached margin call did they not?
Maybe you are not aware of the rules of forum etiquette, but posting on other vendors threads is incredibly rude, unless it is supportive or positive.
And to advertise your own signals on other vendors threads is just obnoxious.
But I think you already know this. In fact, I think you are very cunning and know exactly what you are doing siamfx.
You recently blew 2 signals you were charging several hundred dollars for in subscription fees, with recommended minimum balances of 10k.
Then you hid those failed accounts from your website and myfxbook, and come back to sell your old system once again, as if nothing had happened.
We know what happened siamfx. This account was not 'resting' for 3 months like you claim. You moved brokers and told all your customers this. That account had ended as far as everyone was concerned, and you blew your new Directional FX account, as well as your Razor account.
I've been seeing your grubby comments pop up on other vendors threads on myfxbook, as well as this forum. You are obviously up to something, and depserate for new clients since I'd bet most of your clients left you after you wiped out their accounts.
This is textbook, classic scamming, and I would be willing to bet Nick will toss your sorry arse out of this forum in less than a few days.
You should stick to scamming your Thai locals, and leave this reputable forum alone buddy.
No joy to ya.
Leave a comment:
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If your other signal providers are at a stage of drawdown and if you would like to join our signal during this time here are the steps to follow.
Since your account is at a drawdown, you will need to adjust the Risk Multiplier to a lower setting when first connecting to Siamfx.
For example, you can connect to siamfx using a Risk Multiplier of 0.1 when first attaching the EA/cBot. This will allow you to receive all siamfx open positions immediately, but at 1/10th of the standard risk setting. Since your account is at drawdown, you do not have the required Risk Capital to start following immediately using a standard risk setting.
Once you get all the open positions at startup, login to simpletrader backoffice again, and readjust your Risk Multiplier to the Risk setting that you would like to follow the master account at. For example, 0.2 -1.0, this will allow you to sync all the trades from the master account at startup then you will be able to receive any new signal at the appropriate Risk Profile that you intensionally desire.
When is the best time to join?
Anytime the Equity is below the balance. This will allow you to get a better entry than the master account and as a result, you will earn more profits on all these open trades.
Within the SimpleTrader.net Backoffice you will be required to pick your slippage setting. Please use a slippage setting of 1-3 (pips). Any open trades on the master account that are at profit will not open when you sign up because of this slippage setting. This will ensure that you only get a better entry price than the master account and this will overall give you better results. Please don't worry about missing any already profitable trade because there will be plenty of new opportunities.
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Thank you w2cap for clearing that up. Your previous post said that I blocked you, so I assumed you meant on myfxbook as I did block two guys that just wouldn't give it up and continued to post negatively after I stated the point.
Comments like coldhypno just remind me the bitterness of retail traders. so be it. think what you want, follow who ever you want and risk what ever you like. Coldhypno is following dayfox, so that tells me a lot.
DayFox runs a semi-automated grid based strategy with each step on the grid size increasing by a factor of 1.5x up to a maximum of 6 steps. After the 6th step the trader takes over and manages the basket of trades.
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Originally posted by siamfx View Post@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.
Anyway your risk vs reward was very good. Also I don't understand people who proudly say "siamfx is a scam" ... You don't gain any benefit from blowing people's accounts...only losing reputation. People joined SiamFx before because the history and performance were really good. Things just went south when it was left to outsourced people and customers were kept in the dark. You really should have told us you were going to stop trading and you would let other people do it for you. But that's in the past...
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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.
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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'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.
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@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.
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Originally posted by siamfx View PostI 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.
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.
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?
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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.
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.
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?
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